Online Clothing Rental Market - Growth, Trends and Forecasts (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||922125|
|出版日期||內容資訊||英文 90 Pages
|全球線上服飾出租市場:成長，趨勢，及預測 Online Clothing Rental Market - Growth, Trends and Forecasts (2020 - 2025)|
|出版日期: 2020年04月01日||內容資訊: 英文 90 Pages||
The global online clothing rental market is expected to grow at a CAGR of 8.7% during the forecast period (2019-2024).
The Global Online Clothing Rental Market is segmented by End-users into Men, Women, and Children, by Dress code into Formal, Casual, Partywear and Traditional, and by Geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Increasing Market for Partywear Rentals
Partywear is an ideal candidate for the online clothing rental model. Customers are becoming increasingly aware of the latest fashion trends, which are changing every day and rentals are providing solutions to customers looking to catch up with the latest trends as partywear outfits. Retailers are also catching up with the trend since rentals allow them to manage inventories in a better manner, amidst reduced spending on buying apparel in developed markets. Designer clothes have found their way into the daily wearing habits of customers in these markets and rentals provide a win-win situation for retailers to utilize their unsold inventory, as well as customers looking to sport the latest fashion. The online rental trend is also slowly shifting to affordable party wear. For instance, Hirestreet, a startup, based in the United Kingdom works independently of retailers, offering a 10-day lease starting at around USD 13, on mid-market occasion wear from the likes of Inditex's Zara and Asos Plc.
North America Growing at Robust Pace
The North American region is fast emerging as a growing market for online clothing rentals. In the region, Millenials are increasingly renting out items against owning them. In the United States, clothing rentals fall behind rentals for other categories such as cars, furniture, and electronics, but the trend of online clothing rentals is fast catching up. In a survey of US customers conducted by Unibail-Rodamco-Westfield, over 9% of the respondents positively reacted to the idea of renting out clothes. It is estimated that by 2025, over the market for clothing rentals would represent over 1.2% of the overall apparel market in the United States. Companies and retailers are also responding to the challenge and the opportunity that online clothing rentals pose. For instance, CaaStle operates rental services for its own Gwynnie Bee brand as well as for third-party retailers including Express, American Eagle Outfitters Inc. and Ascena Retail Group Inc.'s Ann Taylor. It charges a flat fee per active subscriber to provide all aspects of the offer, from logistics to laundry.
The market for online clothing rentals is moderately fragmented with the competitive landscape fragmented with a combination of established retailers and startups. While the established retailers are looking for a better way of managing their inventory through rentals, the startups are looking for business expansion by offering multi-brand product mixes. Some of the key players active in the market are Le Tote, Gwynnie Bee, Glam Corner, La Reina, American Eagle, among others.