Online clothing rental is a rental service through which people can rent clothes for the predefined period. Clothing rental is generally pitched as an alternative form of ‘shopping’ for those who can’t afford or don’t necessarily want to pay price for luxury goods. Clothing rental is a much cheaper option than buying one and brings wedding dresses that cost four figures down to three instead. People might be able to save on accessories, too. Clothing rental not only fulfills an individual’s fashion needs, it also increases the reuse of fashion products and reduces the production of new clothes. Thus, the use of online clothing rental is also increasing.
Online clothing rental has become a popular alternative for people lacking the funds to buy clothes of their preference. Rental shops offer a variety of clothes at different prices. They can be hired on the monthly, weekly, and daily basis. The number of pieces that can be rented per week or month depends on the store and the rental shop’s policies. People who prefer renting clothes rather than buying them through retail outlets can make use of online clothing rental shops. These shops make it possible to rent clothes of people’s choice from different brands at reasonable rates. At the same time, they allow buyers to compare different brands without traveling anywhere.
As per statistics provided by Coherent Market Insights, Online Clothing Rental Market is estimated to account for around US$ 993.8 million in terms of value in the year 2019 and it predicted to grow at a CAGR of 10.2% during the forecast period (2020-2027).
Moreover, online clothing rental is also of the great use to busy people going through temporary financial fluctuations in their body, for example pregnant women. The charges in this case are low than usual, since buyers are unable to try out the products before purchasing them. Clothing rental services are beneficial for people attending various events, such as photo-shoots, corporate parties, filmmaking, wedding parties, and theme parties, among others. They are also useful for those who are going through temporary changes in their physique. These services allow people to rent one or more items, similar to renting gown and cap for the graduation, for a few days.
Nowadays, Clothing Rental is basically the trendy badge of honor, as it is deemed an eco-friendly practice that helps eliminate waste. Fashion rental could help reduce the environmental burdens of the fashion industry and improve accessibility among society to a sustainable fashion. The United States based e-commerce platform, Rent the Runway, allow people/users to rent, subscribe, or buy designer apparel and accessories. It is the premier service that powers people to rent designer styles for work, weekends, and events. Some platforms allow people to rent from other people or from the rental service directly, which will usually stock a bunch of brands.
Clothes that individuals would wear for just one occasion usually get piled up in their wardrobe, and most of them take quite space to store. Online clothing rental saves valuable space of wardrobe since most of people have limited closet space. The best option is to buy less and rent clothes as long as possible. That sounds pretty intuitive to most people who are familiar with fashion.