Socially Conscious Customers Find Comfort in the Ability to RentĬonsumers concerned about the environment, frequently looking for sustainable practices in the brands they buy from. 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 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.
The company's e-commerce platforms offer customers a wide selection of designer dresses, tops, sweaters, coats, pants, skirts, gowns, jumpsuits, activewear, maternity, etc.Īs 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. 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.įor instance, Rent the Runway is a US-based online clothes rental company that enables consumers to purchase designer clothing and accessories for rental. 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. 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.Īccording to National Retail Federation (NRF), U.S. Growing Internet Usage Fuels the Market Growth Gwynnie Bee, New York & Company Closet, Nuuly, Armoire, and Vince Unfold are other brands that provide subscription plans in the United States. The business now provides a wide selection of clothing for every occasion. 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. These services help businesses in connecting with a variety of customers, as well as save time when recruiting new clients and creating recurring income. 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. Its emphasis has shifted to the adoption of subscription-based services.Ĭustomers can rent three to four items of apparel at once with this subscription for an unlimited time in exchange for monthly payments. Rising Popularity of Subscription Services Fuels the Market Growthĭue to the COVID-19 pandemic, there have been substantial changes in online clothing rental marketing. 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.īy introducing clothing rental services into their business and sustainability goals, clothing manufacturers could also raise their social manufacturing standards.
For those who cannot buy clothing from their favorite brands, rental services provide an affordable alternative.Īdditionally, 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.
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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. Owing to the availability of these services, consumers can avoid buying new clothing for special occasions, which helps them save money. Online clothing rental services allow users to rent clothes and other accessories for a certain period. 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.
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