Online Clothing Rental Services Market:
Executive Summary
The global online clothing rental market is estimated to showcase impressive growth over the forthcoming years, as analyzed and concluded in the latest report. This can be primarily accredited to the rising online retail industry and growing shift in the mentality of consumers. Moreover, technological advancements, internet penetration, increasing population which is opting for online shopping is are a few other factors contributing to the ascension of the online clothing rental services market. Furthermore, with growing demand for renting clothes online and growing popularity of e-commerce, there has been an exponential rise in the number of online shopping and rental portals. This, in turn, is bound to supplement the growth noted in the global online clothing rental services market.
Apart from this, increasing popularity of fashion vlogs, film industry, and the television industry is also fueling the market growth. Rising popularity of fashion vlogs is expected to drive more and more people, especially younger population to adopt the lifestyle of renting clothes and wearing new and different clothes on every occasion. This, in turn, is likely to encourage the adoption of rental clothes, hence, contributing to the online clothing rental service market growth. These industries require clothes for a short duration and hence, they prefer renting these clothes instead of buying. Hence, the ascension in demand for rental clothing is directly impacting the growth of the online clothing rental services market.
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Fashion-conscious individuals, who are low on finances to purchase new clothes to keep up with the changing trends are anticipated to make the most use of online clothing rental services market. However, improper regulations and a hesitation towards the usage of clothes that are already used by some other people are estimated to provide roadblocks in the ascension of the global online clothing rental services market. Further, the non-availability of certain clothing in the size of the consumer is also bound to discourage growth of the market.
Market Key Players
Chic by Choice, Rent the Runway, Lending Luxury, Share Wardrobe, Secoo Holdings Limited, Gwynnie Bee, Glam Corner Pty, Le Tote, Dress & Go, Secret Wardrobe, Girls Meet Dress, Dress Hire, Swapdom, StyleLend, Rentez-Vous, FlyRobe, Walkin Closet, Swishlist Couture, Liberent, Mr. & Ms. Collection, Style Lend
Market Segmentation
The online clothing rental services market is studied for various segments to arrive at in depth and accurate conclusion. This segmentation also aids the audience to this report with better and swifter decision making. Such segmentation is carried out based on type, application, and region. Based on type, the global online clothing rental services market is segmented into adult and kids. Based on application, the global online clothing rental services market is segmented into consumer to consumer and business to consumer.
Detailed Regional Analysis
The online clothing rental services market is segmented into the regions of North America, South America, Asia Pacific, the Middle East & Africa, and Europe. Among these regions, North America’s online clothing rental services market is estimated to witness significant growth. This can be owed to the rising celebration of various costume-related occasions. Further, growing craze of cosplaying has further supplemented market growth. Asia Pacific’s online clothing rental services market is also estimated to witness fast paced ascension of adoption of rental clothes owing to the rising trend of cosplay in India, Japan, and South Korea.
Continuous…
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