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

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Summary

Report Description

The United States online clothing rental market is anticipated to register an impressive CAGR during the forecast period owing to factors such as expanding e-commerce fashion market and rising participation of people at social occasions.

Online clothing rental services allow users to rent clothes and other accessories for a certain period. Owing to the availability of these services, consumers can avoid buying new clothing for special occasions, which helps them save money.

The online clothing rental services may be helpful for people who want to purchase new costumes for special events, including weddings, theme parties, business events, photo sessions, and movie shoots. For those who cannot buy clothing from their favorite brands, rental services provide an affordable alternative. Additionally, renting products would be seen as a more environment-friendly way to consume clothing nowadays since businesses are making sustainability a significant component of their marketing strategies. It would be better for the environment and natural resources to wear clothing that has been rented because it would lessen harmful emissions and other pollutants. By introducing clothing rental services into their business and sustainability goals, clothing manufacturers could also raise their social manufacturing standards.

The online clothing rental market in the United States has seen significant growth in recent years, with more and more companies entering the space to cater to this demand. These companies offer a wide range of clothing options for different occasions and preferences, from everyday wear to special events.

Furthermore, many online clothing rental companies are leveraging advanced technology to improve the customer experience. For instance, some companies offer personalized recommendations based on a customer's style and size preferences, while others use AI-powered algorithms to optimize inventory and reduce waste.

Rising Popularity of Subscription Services Fuels the Market Growth

The rising popularity of subscription services is indeed fueling the growth of the United States online clothing rental market. Subscription services offer a convenient and cost-effective way for consumers to access high-quality and fashionable clothing without having to commit to buying and owning them. This trend is particularly appealing to younger generations who prioritize sustainability and value experiences over material possessions. Due to the COVID-19 pandemic, there have been substantial changes in online clothing rental marketing. Its emphasis has shifted to the adoption of subscription-based services. Customers can rent three to four items of apparel at once with this subscription for an unlimited time in exchange for monthly payments. Retailers are increasingly offering subscribers online clothing rentals on a monthly or quarterly basis as part of a growing trend in the online clothing rental market. These services help businesses in connecting with a variety of customers, as well as save time when recruiting new clients and creating recurring income. The most well-known and earliest company in this industry, Rent the Runway, has long been recognized for its formal clothing in the United States. The business now provides a wide selection of clothing for every occasion. Gwynnie Bee, New York & Company Closet, Nuuly, Armoire, and Vince Unfold are other brands that provide subscription plans in the United States. Therefore, the increasing popularity of subscription-based services in the country drives the United States online clothing rental market growth during the forecast period.

Growing Internet Usage Fuels the Market Growth

The growing internet usage in the United States is indeed fueling the growth of the online clothing rental market. With more people relying on the internet for their shopping needs, online clothing rental companies are able to reach a wider audience and offer more convenient and accessible services. Nowadays, many individuals frequently purchase apparel online owing to the convenience, ease of price comparison, and ease of research, which outweigh the effort required to visit a physical brick-and-mortar store. According to National Retail Federation (NRF), U.S. consumer expenditure on e-commerce is expected to reach a record USD 1 trillion in 2022 due to the pandemic-driven shift to online buying. Due to the availability of online rental platforms, consumers may purchase and rent any type of apparel with a lower expenditure of money and for extended periods. For instance, Rent the Runway is a US-based online clothes rental company that enables consumers to purchase designer clothing and accessories for rental. The company's e-commerce platforms offer customers a wide selection of designer dresses, tops, sweaters, coats, pants, skirts, gowns, jumpsuits, activewear, maternity, etc. As they disseminate information about established companies and newcomers in the online clothing rental industry, social networking sites such as Facebook and Instagram and online communities significantly impact the market's expansion and growth. In January 2022, there were 307.2 million internet users in the U.S., 92% of the population is connected to the internet in the United States. Additionally, the internet has also made it easier for online clothing rental companies to showcase their products and services, with many companies investing in user-friendly websites and mobile apps that allow customers to easily browse and select items. This has also facilitated the growth of social media platforms, where customers can see and share fashion inspiration and trends. Therefore, the increasing penetration of the internet in the United States is driving the market growth of online clothing rental services in the country. In addition, the internet has enabled online clothing rental companies to collect and analyze data on customer preferences and behavior, allowing them to offer more personalized and tailored recommendations. This has led to increased customer satisfaction and loyalty, which in turn drives further growth in the online clothing rental market.

Socially Conscious Customers Find Comfort in the Ability to Rent

The ability to rent clothing has indeed become an appealing option for socially conscious customers, and this trend is fueling the growth of the United States online clothing rental market. Renting clothing allows customers to enjoy new styles without contributing to the environmental and social issues associated with fast fashion and excessive consumption. Consumers are concerned about the environment, frequently looking for sustainable practices in the brands they buy from. Socially concerned consumers are successfully persuaded by fashion businesses to rent their clothing rather than purchase it. Fast fashion accounts for 50% of women’s clothing spending, frequently on items that may only be used a few times each. Renting clothing gives consumers a chance to save money and persuades them to reconsider how they put together their wardrobes. Renting a dress might be a blessing for millennials. One advantage of renting clothing is that firms may satisfy customers’ desire for individuality while using limited resources. Furthermore, many online clothing rental companies are also giving back to society through various social initiatives, such as supporting local communities, donating clothing to those in need, and contributing to environmental causes. Therefore, the ability to rent clothing is increasingly appealing to socially conscious customers, and this trend is driving the growth of the online clothing rental market in the United States. As more customers prioritize sustainability and social responsibility in their shopping decisions, online clothing rental companies will continue to innovate and improve their services to meet these demands.


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Market Segmentation

The United States online clothing rental market is segmented into product type, consumer group, business model, end-user, region, and company. Based on product type, the market is further divided into knitwear, trousers and jeans, jumpsuits, suits and blazers, coats and jackets, and others (skirts and shorts, ethnic wear, etc.). On the basis of consumer groups, the market is divided into men, women, and kids. Regarding the business model, the market is segmented into the standalone and subscription models. Based on end-user, the market is segmented into business-to-business (B2B), business-to-consumer (B2C), and consumer-to-consumer (C2C). The market analysis also studies regional segmentation to devise regional market segmentation.

Market Players

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 )(Nuuly), Vince, LLC are the major market players in the United States online clothing rental market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Product Type

·         Consumer Group

·         Business Model

·         End-User

·         Region

Regional scope

South, West, Mid-West, North-East

Key companies profiled

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 (Nuuly)Vince, LLC, etc.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail 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/Word format on special request)

 

Report Scope:

In this report, the United States online clothing rental market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • United States Online Clothing Rental Market, By Product Type:
    • Knitwear
    • Trousers and Jeans
    • Jumpsuits
    • Suits and Blazers
    • Coats and Jackets
    • Others
  • United States Online Clothing Rental Market, By Consumer Group:
    • Men
    • Women
    • Kids
  • United States Online Clothing Rental Market, By Business Model:
    • Standalone Model
    • Subscription Model
  • United States Online Clothing Rental Market, By End-User:
    • Business-to-Business (B2B)
    • Business-to-Consumer (B2C)
    • Consumer-to-Consumer (C2C)
  • United States Online Clothing Rental Market, By Region:
    • South
    • West
    • Mid-West
    • North-East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States online clothing rental market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

United States Online Clothing Rental Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Service Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.    By Gender

4.2.2.    By Age

4.2.3.    By Occupation

4.3.  Brand Awareness

4.4.  Frequency of Purchase

4.5.  Factors Influencing Purchase Decision

4.6.  Customer Satisfaction

4.7.  Challenges Faced Post Purchase

5.    United States Online Clothing Rental Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value        

5.2.  Market Share & Forecast

5.2.1.    By Product Type Market Share Analysis (Knitwear, Trousers and Jeans, Jumpsuits, Suits and Blazers, Coats and Jackets, Others (Skirt and Shorts, Ethnic Wear, etc.)

5.2.2.    By Consumer Group Market Share Analysis (Men, Women, and Kids)

5.2.3.    By Business Model Market Share Analysis (Standalone Model Vs. Subscription Model)

5.2.4.    By End-User Market Share Analysis (Business-to-Business (B2B), Business-to-Consumer (B2C), and Consumer-to-Consumer (C2C))

5.2.5.    By Regional Market Share Analysis

5.2.5.1.        South Market Analysis

5.2.5.2.        West Market Analysis

5.2.5.3.        Mid-West Market Analysis

5.2.5.4.        North-East Market Analysis

5.2.6.    By Company Market Share Analysis

5.3.  United States Market Mapping & Opportunity Assessment

5.3.1.    By Product Type Market Mapping & Opportunity Assessment

5.3.2.    By Consumer Group Market Mapping & Opportunity Assessment

5.3.3.    By Business Model Market Mapping & Opportunity Assessment

5.3.4.    By End-User Market Mapping & Opportunity Assessment

5.3.5.    By Regional Market Mapping & Opportunity Assessment

6.    United States Knitwear Online Clothing Rental Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Consumer Group Market Share Analysis

6.2.2.    By Business Model Market Share Analysis

6.2.3.    By End-User Market Share Analysis

6.2.4.    By Region Market Share Analysis

7.    United States Trouser and Jeans Online Clothing Rental Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.        By Consumer Group Market Share Analysis

7.2.2.        By Business Model Market Share Analysis

7.2.3.        By End-User Market Share Analysis

7.2.4.        By Region Market Share Analysis

8.    United States Jumpsuits Online Clothing Rental Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.        By Consumer Group Market Share Analysis

8.2.2.        By Business Model Market Share Analysis

8.2.3.        By End-User Market Share Analysis

8.2.4.        By Region Market Share Analysis

9.    United States Suits and Blazers Online Clothing Rental Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.        By Consumer Group Market Share Analysis

9.2.2.        By Business Model Market Share Analysis

9.2.3.        By End-User Market Share Analysis

9.2.4.        By Region Market Share Analysis

10. United States Coats and Jackets Online Clothing Rental Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1.     By Consumer Group Market Share Analysis

10.2.2.     By Business Model Market Share Analysis

10.2.3.     By End-User Market Share Analysis

10.2.4.     By Region Market Share Analysis

11. Market Dynamics

11.1.             Drivers

11.1.1.1.    Adopting subscription-based services

11.1.1.2.    Fast Delivery Service

11.1.1.3.    Increasing the internet penetration

11.2.             Challenges

11.2.1. Delivery management issues

11.2.2. Inventory management issues

12. Impact of COVID-19 on the United States Online Clothing Rental Market

12.1.             Impact Assessment Model   

12.1.1. Key Segments Impacted

12.1.2. Key Regions Impacted

13. Market Trends & Developments

13.1.             Increased use of shopping applications

13.2.             Voice technology integration

13.3.             Social Media's growing influence

13.4.             Digital presence optimization

13.5.             Growing number of e-commerce websites

14. Porter’s Five Forces Model

14.1.             Competition Landscape

14.2.             Buyer Power

14.3.             Supplier Power

14.4.             Threat of New Entrants

14.5.             Threat of Substitutes

15. Competitive Landscape

15.1.             Competition Outlook

15.2.             Company Profiles

15.2.1.     Runway, Inc.

15.2.1.1.             Company Details

15.2.1.2.             Products & Services

15.2.1.3.             Financials (As Reported)

15.2.1.4.             Key Market Focus & Geographical Presence

15.2.1.5.             Recent Developments

15.2.1.6.             Key Management Personnel

15.2.2.     Armoire Style, Inc.

15.2.2.1.             Company Details

15.2.2.2.             Products & Services

15.2.2.3.             Financials (As Reported)

15.2.2.4.             Key Market Focus & Geographical Presence

15.2.2.5.             Recent Developments

15.2.2.6.             Key Management Personnel

15.2.3.     CaaStle, Inc. (Gwynnie Bee)

15.2.3.1.             Company Details

15.2.3.2.             Products & Services

15.2.3.3.             Financials (As Reported)

15.2.3.4.             Key Market Focus & Geographical Presence

15.2.3.5.             Recent Developments

15.2.3.6.             Key Management Personnel

15.2.4.     American Eagle Outfitters, Inc.

15.2.4.1.             Company Details

15.2.4.2.             Products & Services

15.2.4.3.             Financials (As Reported)

15.2.4.4.             Key Market Focus & Geographical Presence

15.2.4.5.             Recent Developments

15.2.4.6.             Key Management Personnel

15.2.5.     Le Tote, Inc.

15.2.5.1.             Company Details

15.2.5.2.             Products & Services

15.2.5.3.             Financials (As Reported)

15.2.5.4.             Key Market Focus & Geographical Presence

15.2.5.5.             Recent Developments

15.2.5.6.             Key Management Personnel

15.2.6.     Style Lend, Inc.

15.2.6.1.             Company Details

15.2.6.2.             Products & Services

15.2.6.3.             Financials (As Reported)

15.2.6.4.             Key Market Focus & Geographical Presence

15.2.6.5.             Recent Developments

15.2.6.6.             Key Management Personnel

15.2.7.     The Black Tux, Inc.

15.2.7.1.             Company Details

15.2.7.2.             Products & Services

15.2.7.3.             Financials (As Reported)

15.2.7.4.             Key Market Focus & Geographical Presence

15.2.7.5.             Recent Developments

15.2.7.6.             Key Management Personnel

15.2.8.     For Days, Inc

15.2.8.1.             Company Details

15.2.8.2.             Products & Services

15.2.8.3.             Financials (As Reported)

15.2.8.4.             Key Market Focus & Geographical Presence

15.2.8.5.             Recent Developments

15.2.8.6.             Key Management Personnel

15.2.9.     URBN SR, LLC (Nuuly)

15.2.9.1.             Company Details

15.2.9.2.             Products & Services

15.2.9.3.             Financials (As Reported)

15.2.9.4.             Key Market Focus & Geographical Presence

15.2.9.5.             Recent Developments

15.2.9.6.             Key Management Personnel

15.2.10.  Vince, LLC

15.2.10.1.          Business Overview

15.2.10.2.          Company Details

15.2.10.3.          Products & Services

15.2.10.4.          Financials (As Reported)

15.2.10.5.          Key Market Focus & Geographical Presence

15.2.10.6.          Recent Developments

15.2.10.7.          Key Management Personnel

16. Strategic Recommendations/Action Plan

16.1.             Key Focus Areas

16.2.             Target Regions

16.3.             Target Product Type

16.4.             Target Consumer Group

16.5.             Target Business Model

16.6.             Target End-User

17. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Online clothing rental services allow users to rent clothes and other accessories for a certain period. Owing to the availability of these services, consumers can avoid buying new clothing for special occasions, which saves them money.

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Renting clothing for special occasions and even formal wear will free up a lot of wardrobe space and save money. Users can organize their closets and declutter. Therefore, renting clothes is better than buying them.

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The business model is based on strategic alliances with numerous designers and agencies to provide their audience with limited access to their newest outfits and accessories for rent.

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Many celebrities and influencers have their clothes sourced by their stylists or style team, even if they can afford it. Essentially, sourcing indicates that they are given only for a specific appearance or function and not for long-term storage. They must also give it back.

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Parvati Sharma

Account Manager BD
Press Release

United States Online Clothing Rental Market is to Grow with a CAGR of around 10% During the Forecast Period

Dec, 2022

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.

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