Online Clothing Rental Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (Knitwear, Trousers and Jeans, Jumpsuits, Suits and Blazers, Coats and Jackets, Others (Skirt and Shorts, Ethnic Wear, etc.), By User Orientation (Men, Women, and Kids), By Business Model (Standalone Model Vs. Subscription Model), By End-User (Business-to-Business (B2B
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationThe global online clothing rental market is expected to grow at double-digit CAGR through 2027. Online clothing rental is a concept for a service that generally involves services that assist people in renting different clothing items to consumers according to their requirements for a set amount of time. Consumers evaluate these services as convenient and cost-effective. The user has the choice to rent clothing for a variety of events, including photo shoots, theme parties, corporate events, wedding ceremonies, and filming.
Need a killer outfit for that wedding, themed party, or even a corporate event or photo shoot? Online clothing rental services are a lifesaver! If you're on a budget but still want to rock something amazing, renting lets you wear those outfits you normally couldn't afford. Plus, it's way more eco-friendly than constantly buying new clothes. With businesses focusing on sustainability, renting is a great way to reduce your impact on the environment. Think about itless pollution and fewer resources used compared to everyone owning everything themselves. Even clothing manufacturers are starting to see the benefits, incorporating garment rental to boost their social manufacturing standards.
Cost Effectiveness Propels the Market Growth
It is expected that fashion-conscious people who lack the money to buy the clothes they choose will utilize all the resources at their disposal. Renting a product is always more affordable, especially in this industry where fashion trends change frequently, and customers don't like to wear the same thing over and over. Customers prefer renting clothing; as a result, to stay in style.
Increasing Availability of Products On Online Platforms Fuels the Market Growth
Shopping for clothes online has become super popular, and it's easy to see why! It's just so convenient, you can easily do your research, and there are awesome tools to compare prices – making it way easier than heading to a real store. Plus, with all these online rental platforms popping up, you can rent clothing without spending a fortune and without committing to keeping it forever. Social networking sites like Facebook and Instagram, along with online communities, really boost the market because they spread the word about both the big players and the new kids on the block in the online clothing rental world. Take Rent the Runway, for example. It's a US-based company founded by Jennifer Hyman and Jennifer Fleiss where you can rent designer clothes and accessories. Their e-commerce platform lets you pick from a huge selection of designer dresses, tops, sweaters, outerwear, pants, skirts, gowns, jumpsuits, activewear, maternity wear, and tons more!
Technological Advancements Drive the Market Growth
The online clothing rental market is changing as a result of technological advancements. Online clothing retailers have synchronized all their operations and business processes due to technological advancement. For instance, H&M, a Swedish-based multinational clothing company, launched the blockchain-based clothes rental service with scannable IoT labels in 2021. Customers can choose dresses for an immediate rental by scanning IoT-connected stickers with their smartphones at the H&M store. Customers can use this service by enrolling in Spin and making daily hire payments of up to USD11. Reselling or renting alongside innovation in materials is helping create sustainable consumption patterns.
Market Segmentation
Company Profile
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| Attribute | Details |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2017-2021 and 2022E-2027F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Product TypeUser OrientationBusiness ModelEnd-UserRegion |
| Regional Scope | North America, Europe, Asia-Pacific, Middle East & Africa, and South America |
| Country Scope | United States; Canada; Mexico;; Germany; France; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia, Saudi Arabia; UAE, South Africa, Turkey, Brazil; Argentina; Colombia |
| Key Companies Profiled | Rent the Runway, Inc., Glam Corner Pty Ltd, UNION STATION KANSAS CITY, American Eagle Outfitters, Inc., CaaStle, Inc., Le Tote, Inc., Style Lend, Share Wardrobe, Dress & Go Company, Chic by Choice, etc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
In this report,
- Online Clothing Rental Market, By Product Type
- Knitwear
- Trousers and Jeans
- Jumpsuits
- Suits and Blazers
- Coats and Jackets
- Others
- Online Clothing Rental Market, By User Orientation
- Men
- Women
- Kids
- Online Clothing Rental Market, By Business Model
- Standalone Model
- Subscription Model
- Online Clothing Rental Market, By End-User
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Consumer-to-Consumer (C2C)
Online Clothing Rental Market
- North America
- The United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- South America
- Brazil
- Argentina
- Colombia
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