In Episode #81 of the Joy Joya Jewelry Marketing Podcast, I interview Liana Kadisha Cohn, the co-founder of Switch, a unique jewelry rental service. Switch gives customers the opportunity to borrow unlimited designer, fine, one-of-a-kind, and vintage jewelry for a monthly subscription fee. Curious shoppers can try something unique and unusual without committing to it, so they expose themselves to new designers and styles in a low-pressure situation.
In addition, Switch sells the jewelry they rent, and they also buy jewelry from customers in exchange for cash, membership credit, or credit for purchase.
In this episode, we chat with Liana about the inspiration behind Switch, why innovation matters, and what the future holds for consumer shopping habits. We cover questions like:
– How much did you look to other fashion/accessory rental companies like Rent the Runway as a model for your own brand, and in what ways are you different from those companies?
– In your marketing and sales strategies, where do you place more of your focus – on acquiring new subscription customers or on converting existing subscription customers to buyers? A mix of both?
– Who are some of the designers you partner with, and what makes them a good fit for the Switch brand (price point, materials, design, style, etc.)?