Online Clothing Rental Market Growth Rate at a CAGR of 7% During 2021-2026 – Stillwater Current
According to the latest report from the IMARC group, entitled “Online Clothing Rental Market Growth Rate: Global Industry Trends, Share, Size, Opportunity and Forecast 2021-2026,“the Global online clothing rental market size to grow at a CAGR of around 7% during the forecast period (2021-2026). Online clothing rental refers to services that help individuals rent clothes for a predefined period of time. These portals offer customers affordable designer clothes, shoes and accessories. With clothing in a huge range of sizes, styles, colors and brands, these portals are widely preferred by customers due to their cost effectiveness. They are widely used by professionals for photo shoots and filmmaking. Apart from that, these services are also used by budget conscious people to participate in occasionally organized events, such as weddings, theme nights and company parties.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
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Some of the best companies in the online clothing rental industry:
- Clothing rental
- Get dressed and go
- RENT BAE
- Glam Corner Pty Ltd
- Gwynnie Bee
- The Tote, Inc.
- Rent Track, Inc.
- Style Loan, Inc.
Global Online Clothing Rental Market Trends:
The market is mainly driven by the significant growth of the online retail sector. Supported by the growing adoption of smartphones and improving broadband connectivity and mobile data globally, individuals now prefer online web portals for shopping for clothing. These portals also offer designer clothes for rent, which helps to further increase their demand among consumers. This, along with rapid urbanization and growing brand awareness, is acting as another major growth driver. The market is further driven by the ever changing trends seen in the fashion industry and the growing demand for high end designer clothes. In addition, the increasing adoption of subscription rental models is creating positive prospects for the market. In addition, the growing awareness of individuals about the positive environmental impact of sharing and reusing clothing is pushing the market towards growth.
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Key market segmentation:
Break by clothing styles:
- Western clothing
- Ethnic outfit
Based on clothing styles, the market has been divided into Western clothing, ethnic clothing, and others.
Breakdown by end user:
Based on the end user, the market has been categorized into women, men and children.
Breakdown by price range:
Based on the price range, the market has been categorized as low, mid, and high end.
Breakdown by end-use sector:
- Business to consumer (B2C)
- Business to Business (B2B)
Based on end-use industry, the market has been divided into Business to Consumer (B2C) and Business to Business (B2B).
Breakdown by economic model:
- Peer-to-peer model
- Autonomous model
- Hybrid model
Based on the business model, the market has been segmented into peer-to-peer, stand-alone and hybrid models.
Breakdown by region:
3. North America
4. Middle East and Africa
5. Latin America
Geographically, the market has been separated into North America (United States and Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Asia-Pacific (China, Japan, India , Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
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