lululemon athletica’s New Fitness Platform Offers Even More Value to Customers
Today’s consumers are increasingly focused on more than just price when making purchasing decisions. Customers are looking for experiences that are personalized, engaging, and convenient. Offering value beyond discounts and sales allows retailers to differentiate themselves from the competition, build stronger brand loyalty, and create lasting relationships with customers.
In the past, retailers have offered customers additional value through a variety of means, such as seamless shopping experiences, tiered customer service, and member platforms. However, retailers can also deliver value to customers through content.
One company, the athletic clothing brand lululemon athletica, has taken this concept to heart. It recently announced the launch of a new fitness platform, lululemon Studio. Here’s what this innovative offering will do for customers and the brand, and what other retailers can learn from the initiative.
Introducing lululemon Studio
The lululemon brand is already world-renowned for its athletic apparel and accessories, including workout clothing, bags, water bottles, equipment, and more. However, lululemon athletica is already home to digital platforms like its "Digital Educators” platform, which supports guests online, and its "Sweats & Events” platform, which allows users to find classes, training sessions, and other experiences.
The new lululemon Studio platform will be a continuation of this strategy, but it will offer customers even more value than its previous platforms.
According to a press release by lululemon athletica, the platform will offer "dynamic fitness content, community, and products—at home, in person, and on the go.” It’s set to launch on October 5th this year and will be accessible through the lululemon Studio Mirror app, and via in-person experiences. Users with a MIRROR subscription already have access to more than 10,000 on-demand and live-streamed classes.
Specifically, "lululemon Studio members will have access to some of the most sought-after studios online and in person from AARMY, Y7 Studio, DOGPOUND, FORWARD__Space, Pure Barre, Rumble, AKT, and YogaSix.” Members will be able to stream new classes weekly from these partners, and they’ll have access to discounted in-person classes as well. What’s more, members will receive additional discounts on lululemon products, early access to special events, and more.
"With lululemon Studio, we’re expanding our offering to solve for our guests’ needs, extending our relationships with new studio partners and our ambassadors to add hundreds of hours of content in one place, while providing access to in-person studio classes for the ultimate hybrid experience,” said Michael Aragon, Chief Executive Officer, lululemon Digital Fitness. "We see lululemon Studio as being the daily go-to destination for experiencing the most dynamic content from the industry’s top trainers and studios, covering a range of fitness genres for all levels.”
A Lesson in Value for Other Retailers
Other retailers can learn from lululemon athletica's investment in digital content. This innovative offering provides customers with more value than discounts and sales by delivering personalized experiences that are engaging, convenient, and customer driven.
Particularly of note are lululemon atheltica's partnerships with studios, which expand its offering and increase the value of its content. This strategy can be implemented by other retail brands, who can partner with related companies to provide customers with access to exclusive offers, experiences, and discounts.
By focusing on creating customer loyalty through added value beyond price point alone, retail businesses have the potential to differentiate themselves within a competitive marketplace while establishing long-lasting relationships with consumers.
Don’t Miss the Next eTail Canada Event
Achieving customer loyalty can be challenging in today’s digital environment. Retailers must focus on product sales, but they do have opportunities to improve customer retention through other types of offerings. Digital content offers an avenue to deliver personalized experiences to customers, and it can be made more effective and cost-friendly through strategic partnerships.
If you’d like to learn more about how your company can deliver more value to customers through content and partnerships, don’t miss the next eTail Canada event. It’s happening from September 27th to 28th at the Hyatt Regency Toronto in Toronto, Ontario.
Download the agenda and register for the event today.