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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
RetailAmazon

Amazon’s Try-Before-You-Buy Wardrobe Service Is Ready for Prime Time

Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
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Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
June 20, 2018, 12:34 PM ET
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After a year of finetuning, Amazon.com’s (AMZN) “try before you buy” Prime Wardrobe shopping service is being made available to all U.S. members of its Prime subscription service.

Amazon Prime Wardrobe, first announced a year ago and available by invitation only during the beta phase, is the online giant’s answer to the growing popularity of services like Stitch Fix (SFIX) and a way for it to get more traction for its increasingly important house brands of apparel.

The idea of Prime Wardrobe is to let shoppers order items online, try them on at home, keep what they want and return the rest to the company, only getting charged for what they keep. The available assortment is not nearly as broad as on Amazon’s site and shoppers can select items from a dedicated Prime Wardrobe area of the site. The site offers clothing as well as shoes and jewelry.

Customer must order at least three items to have a Prime Wardrobe order shipped and can try up to eight items per order, for which there is no minimum dollar amount required. (At the start of the pilot, Amazon’s limit was 15 items. Amazon has also scrapped the discounts offered at launch that were designed to gives shoppers incentives to keep more of the items they ordered.)
Items must be returned within a week or paid for before a shopper can submit another order. One key difference with personalized services like Stitch Fix is that Amazon does not make the selections for the consumer, customers must pick out their own attire.

In addition to Amazon clothing brands like Lark & Ro, Daily Ritual, Amazon Essentials, the service offers items from national brands like Tommy Hilfiger, Adidas, and Levi’s, among others. A number of such brands, notably Nike, have overcome reticence to being sold on Amazon, but the site’s clout is such now that it’s become an essential point of distribution.

The move signals Amazon is making progress as a fashion retailer beyond basics, raising pressure on traditional retailers from Macy’s (M) to Walmart (WMT) as well as specialized clothing chains. While it remains to be seen how much shoppers will take to this service, the potential for damage to other retailers is huge: Prime, a service launched 12 years ago to strengthen shopper loyalty with features such as free two-day shopping, now has 100 million members globally, the company said in April. And of those people, analysts estimate 80 million are in the U.S.

 

About the Author
Phil Wahba
By Phil WahbaSenior Writer
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Phil Wahba is a senior writer at Fortune primarily focused on leadership coverage, with a prior focus on retail.

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