January 13th, 2023, Joshua Kennedy
Apparel box retailer Stitch Fix’s CEO, Elizabeth Spaulding has stepped down from the position she had been in since August 2021. The San Francisco-based company has also announced it will be laying off 20% of its workforce.
How has the online personal styling service fared during Spaulding's tenure?
According to YouGov BrandIndex - which tracks consumer sentiment towards thousands of brands daily - Stitch Fix’s metrics remained mostly static during Spauldings’s tenure.
Despite some ups and downs over Spaulding’s tenure, Stitch Fix’s Index score – which measures average Impressions, Value, Quality, Reputation, Satisfaction, and Recommendation scores for the brand – was at 4, both in August 2021 and 5 January 2023, when Spaulding stepped down. The Index score briefly crossed the net score of 4 in late March 2022, recovering from a low of around 3 in mid-February.
The company, which hires around 8000 people, saw mostly stagnant Reputation scores - which represent how proud or embarrassed a potential employee would be to work for the brand. Reputation net score in both August 2021 and January 2023 was around 5. The Reputation score hit a low of 3 on 18 May, following which it recovered, peaking at around a net score of 6 on 2 July.
The brand’s Value metric - which shows if customers think a particular brand provides them value for money - also remained flat under Spaulding’s tenure. At the time of her joining and exit, the net score was 3. The brand’s Value net score dropped to a low of 1 on 15 February 2022 before recovering to 4 in mid-March 2022.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day. Stitch Fix’s net Index score is based on the Average Impressions, Value, Quality, Reputation, Satisfaction, and Recommendation scores for the brand. The scores are delivered as a net score between -100 and +100.
The brand’s Reputation score is based on the question: “Imagine that you were looking for a job (or advising a friend looking for a job). Which of the following companies would you be PROUD TO WORK FOR? Imagine you (or your friend) were applying for the same sort of role at the following companies that you currently have or would apply for. / Now which of the following companies would you be EMBARRASSED TO WORK FOR? Imagine you (or your friend) were applying for the same sort of role at the following companies that you currently have or would apply for.” The scores are delivered as a net score between -100 and +100.
Stitch Fix’s Value metrics are based on the question: “Which of the following clothing and apparel stores do you think represents GOOD VALUE FOR MONEY? By that we don't mean "cheap," but that the brands offer a customer a lot in return for the price paid. / Now which of the following clothing and apparel stores do you think represents POOR VALUE FOR MONEY? By that, we don't mean "expensive," but that the brands do not offer customers much in return for the price paid.” The scores are delivered as a net score between -100 and +100.
Scores are based on an average daily sample size of 3022 US-based adults between 1 August 2021 and 11 January 2023. Figures are based on a 4-week moving average. Learn more about BrandIndex.
Picture credits: Cottonbro studio on Pexels