United States Online Clothing Rental Market is to Grow with a CAGR of around 10% During the Forecast Period
United States Online Clothing Rental Market is to Grow with
a CAGR of around 10% During the Forecast Period.
The growth of the online
clothing rental industry is driven by the rising popularity of
subscription-based services, growing internet penetration, and changing
consumer lifestyles. According to TechSci Research report, “United States Online Clothing Rental Market”- By Region, Competition Forecast and Opportunities, 2017-2027”, the
United States online clothing rental market has grown significantly in recent
years owing to growing e-commerce websites and the expanding fashion industry.
Fashion-conscious people who lack the funds to buy the clothing of their choice
are expected to use all available resources. Renting a product is usually less
expensive and this is particularly true in this market because fashion trends
shift frequently, and clients prefer not to wear the same thing repeatedly. As
a result, customers prefer renting clothing to stay fashionable.
Online outfit rental services are helpful for people who wish to buy
new costumes for special occasions such as weddings, theme parties, corporate
events, photo sessions, and movie shoots. Rental services are a cost-effective solution
for people with limited budgets who cannot purchase clothing from their chosen
brands. Additionally, since firms make sustainability a fundamental part of
their marketing efforts, renting products would be perceived as a more
environment-friendly way to consume clothing today. Renting clothing would
benefit the environment and natural resources because it would significantly
reduce harmful emissions and other pollutants. Clothing manufacturers should
increase their social manufacturing standards by including clothing rentals in
their business and sustainability strategy.
A business that lets users rent clothes online for a certain amount of
time is known as clothing rental. Customers looking for a designer dress for
theme parties, weddings, business parties, and filming events can benefit from
this service. Designer clothing, footwear, and accessories are available on online
clothing rental platforms in various sizes, hues, and brands. Depending on
their needs and budget, customers can select any product. Major drivers expected to support growth of the global online clothing
rental market include rising fashion propensity, rising brand awareness among
consumers, and expanding internet penetration. Similarly, a rise in the number of fashion-conscious consumers and
start-up businesses offering quality branded clothing in attractive packages is
expected to drive the market during the forecast period.
The fashion and clothing industries have advanced significantly
worldwide over the past several years. As a result, customer brand awareness is
quickly expanding. Technological advancements and better internet access are
stimulating the US market for online garment rentals, which is expected to last
during the forecast period. Owing to the growth of social media platforms, people have also
recently become more fashion-conscious and are being influenced to try on a
variety of clothing. Additionally, the growing influence of social media and
the significant impact of online portals for clothing rentals have contributed
to the expansion of the online clothing rental business in the United States.
Similarly, over the coming years, it is expected that the rise of
fashion vlogs, fashion events, changing trends in adventure events, occasions,
, increased middle-class consumer spending power, new marketing strategies,
increased efforts from providers using subscription model, and various other
factors is expected to contribute to the growth of the online clothing rental
market in the United States.
Browse over XX market
data Figures spread through 70 Pages and an in-depth TOC on the "United States Online Clothing Rental Market".
The United States
online clothing rental market is segmented into product type, consumer group,
business model, end-user, and region. Based on consumer
group, the market is segmented into men, women, & kids. Among these, the
women segment is expected to hold the leading share in the market during the
forecast period, as seen by their participation at business and social events,
their follow-ups with international designer brands, and their active
participation on social networking sites that run sales and promotions. The
formal dress code segment of the market is predicted to experience considerable
growth as consumers prefers to purchase on rent their formal dress for various
business meeting and other social events.
Major companies operating in
the United States online clothing rental market are:
- Runway, Inc.
- Armoire Style, Inc.
- CaaStle, Inc. (Gwynnie Bee)
- American Eagle Outfitters, Inc.
- Le Tote, Inc.
- Style Lend, Inc.
- The Black Tux, Inc.
- For Days, Inc
- URBN SR, LLC
- Vince, LLC
Download Free Sample Report
Customers can
also request for 10% free customization on this report.
“Human propensity
for fashion is driving the growth of demand for online clothes rentals.
Customers are very conscious of brands in the United States. They are
increasingly embracing online clothes purchases owing to their accessibility
and availability of a large selection at a reasonable price due to the growing
internet penetration. Owing to changing lifestyles and demands for designer
dresses, party dresses, and dinner suits, the online clothing rental business is
anticipated to expand in the United States.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
United States Online Clothing Rental Market By
Product Type (Knitwear, Trousers and Jeans, Jumpsuits, Suits and Blazers, Coats
and Jackets, Others (Skirt and Shorts, Ethnic Wear, etc.), By Consumer Group
(Men, Women, and Kids), By Business Model (Standalone Model Vs. Subscription
Model), By End-User (Business-to-Business (B2B), Business-to-Consumer (B2C),
and Consumer-to-Consumer (C2C)), By Region, By Company,
Forecast & Opportunities, 2018-2028F, has evaluated the future growth
potential of the United States online clothing rental market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the online clothing rental market in the United
States.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com