And we feel like through these investments, we’ll continue to keep that engagement open. And over a longer period of time, this speaks to the second part of the reimagination of the experience that’s really important is we’re going to start to really focus on what are those experiences that can deepen engagement with our current clients. And how can we make sure that we’re giving them a reason to come back and visit us on a more frequent basis. And as we do that, we feel confident that we’ll continue to be a part of their shopping journey. We’ll continue to take a greater wallet share over time. And that’s why that’s such an important part of the investment in terms of the reengagement of the experience there. In terms of the second part of the question on clearance, I’ll answer it and allow David to jump in with a little bit of additional color there.
One of the things that’s really important is that we continue to invest in our pricing science there. We want to make sure that we’re getting smarter about our pricing intelligence that will help ensure that we’ve got the right markdown cadence, so that we can drive the right sell-through, so that we can ensure that we have the right keep rates. And as inventory ages, then, we’ll be able to make sure that we have less and less as a percentage of our total retail that needs to go to clearance. I feel good about our level of investment there. I feel good about some of the initial results that we’ve seen from this increased focus in pricing science. And it’s also just a phenomenal of our continued focus on retail best practices and the outsized impact that it can have on our overall business performance.
And I think finally, our ability to do that speaks a lot to what David was talking about in terms of getting leverage out of the business so that we can further invest in growth initiatives over time.
David Aufderhaar: And Ed, just to add on that, on the clearance side, one of the other aspects that certainly has been a benefit for us is Freestyle, where we can use Freestyle in a lot of the ways that Matt was just describing around targeted promotions and sales and using that as an avenue from a clearance perspective. And so that has certainly helped us from an inventory health standpoint.
Edward Yruma : Thanks so much.
David Aufderhaar: Thanks, Ed.
Operator: Please standby for our next question. Our next question comes from the line of Kunal Madhukar from UBS. Your line is open.
Kunal Madhukar : Hi. Thank you for taking my questions. I guess a lot of the questions are coming in because especially about growth, coming in because there seems to be some dichotomy between what you profess and the numbers that we see. So if the user experience is so much better than what their current experience is with other retailers, why is it that the active client base is back to the January 2018, kind of, levels? And then when you’re thinking about wallet share, what percentage of wallet share do you currently have from the existing clients? And a follow-up would be you talked about having a more personalized experience with like the stylists. So what does that mean in terms of stylist headcount and the amount of time that the stylist will spend with individual clients? And then the follow-up to that would be what would be the cost of having a more personalized experience? Thank you.
Matt Baer: All right. Thank you, Kunal. I heard three questions. I’ll do my best to take them in order. The first is in terms of why I continue to have such confidence in the future success of Stitch Fix versus what the numbers that you’re looking at are demonstrating. And I think based on what I’ve continued to say is our core differentiator and our core capability is how well we know our clients and how well we know clients from that very first interaction, our opportunity going forward is how we further capitalize on that information and how we continue to build and reimagine the experience around that. So that confidence is speaking to that future growth opportunity. And as I noted earlier, we’re in the midst of a transformation, and those transformations do take time.
On the second question, in terms of wallet share, we’re very methodical in terms of the different client segments that we’re targeting. And within those client segments, we’re also filling very different needs for each of those clients. And as a result, we have a very different wallet share with each of those different client bases. And the teams are very focused on making sure that we continue to develop, build and message to those clients in those different segments to meet those needs and gain as much wallet share as possible. On the third question, in terms of the future of the client stylists relationship and how we want to build out a more personalized experience and what that means for the cost basis on stylists, I think what’s really important there is that we’re driving more meaningful interactions between clients and stylists.
