Online Clothing Rental Market May Set New Growth Story

Online clothing rental is a service by which someone can rent clothing for a specific period of time. It provides wide range of dresses, easy payment, and delivery of clothes in time. The company offers wedding dresses, formal dresses, elegant dresses, evening dresses, prom dresses, and cocktail dresses for events.

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Market Dynamics

Increasing consumer preference towards rental designer dresses owing to benefits offered by it is a major factor driving growth of the global online clothing rental market. Designer dresses are used for one time thus, renting clothes is useful as there is no repetition of dresses in events such as weddings, cocktail parties, office parties, and others. Different choices and varieties are available on online portals for the occasion and functions such as wedding, theme parties, and school plays. Traditional as well as modern dresses are available on rent such as bridesmaid dresses, formal gowns, kaftans, and cocktail dresses.

However, lack or low customization option and low societal acceptance of the idea of renting clothes is a restraining factor for the growth of online clothing rental market.

On the basis of region, Latin America accounted for the significant market share in the global online clothing rental market in 2017. This is due to several new start-ups beginning their online clothing rentals, which is expected to aid in growth of the market in the region. For instance, in 2012, Mr. Barbara Almeida and Ms. Mariana Penazzo started Dress and go, an e-commerce rental clothing company, in Brazil. In 2015, Kaszek Ventures invested in Dress and Go to offer luxury apparel rental cloths in Latin America.

Key features of the study:

This report provides in-depth analysis of online clothing rental market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2018 – 2026), considering 2017 as the base year

It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players

It profiles leading players in the global online clothing rental market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans

The global online clothing rental market report caters to various stakeholders in this industry including investors, suppliers, online clothing rental manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the online clothing rental market

Detailed Segmentation:

Global Online Clothing Rental Market, By Clothing Style:

Parties and Wedding Wear

Formal Wear

Others

Global Online Clothing Rental Market, By End user

Women

Men

Kids

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Major players operating in the global online clothing rental market include GlamCorner Pty Ltd., Rent the Runway, Inc., Lending Luxury, Flyrobe, Gwynnie Bee Inc., Bag Borrow or Steal Inc., The Secret Wardrobe Limited, Le Tote, Union Station, Inc., and Her Wardrobe.

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