Global Online Clothing Rental Market, By Product Type (Knitwear, Trousers and Jeans, Jumpsuits, Suits and Blazers, Coats and Jackets, Skirt and Shorts, Ethnic Wear), Business Model (Standalone Model, Subscription Model), Consumer Orientation (Men, Women, Kids), End-User (Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Online Clothing Rental Market
The online clothing rental market is expected to witness market growth at a rate of 10.60% in the forecast period of 2022 to 2029. Data Bridge Market Research report on online clothing rental market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. Rapid urbanization is escalating the growth of online clothing rental market.
Online clothing rental refers to a service that generally consists of services that help individuals in renting various clothing items to the consumers as per their requirement for a specific time period. These services are considered cost-effective and convenient for consumers. The user have the option of taking clothes on rent for different occasions such as film making, theme parties, corporate parties, wedding ceremonies and photo shoots, among others.
The increase in the internet penetration across the globe acts as one of the major factors driving the growth of online clothing rental market. The rise in popularity of fashion vlogs, film industry, and the television industry, and increase in the preference towards online purchase of clothes due to their easy availability and accessibility of an enormous assortment at a limited cost accelerate the market growth. The high usage of these resources among fashion-conscious individuals who lack finances to purchase clothes of their choice further influence the market. Additionally, surge in disposable income, increase in smart marketing activities and inclination towards party wear dresses, designer dresses, and dinner suits positively affect the online clothing rental market. Furthermore, introduction of new digital platforms and growth in e-commerce extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, improper regulations and less societal acceptance are expected to obstruct the market growth. The low consumer awareness is projected to challenge the online clothing rental market in the forecast period of 2022-2029.
This online clothing rental market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on online clothing rental market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Online Clothing Rental Market Scope and Market Size
The online clothing rental market is segmented on the basis of product type, business model, consumer orientation and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the online clothing rental market is segmented into knitwear, trousers and jeans, jumpsuits, suits and blazers, coats and jackets, skirt and shorts and ethnic wear.
- On the basis of business model, the online clothing rental market is segmented into standalone model and subscription model.
- On the basis of consumer orientation, the online clothing rental market is segmented into men, women and kids.
- On the basis of end-user, the online clothing rental market is segmented into business-to-business (B2B), business-to-consumer (B2C), and consumer-to-consumer (C2C).
Online Clothing Rental Market Country Level Analysis
The online clothing rental market is segmented into is analyzed and market size, volume information is provided by country, product type, business model, consumer orientation and end-user as referenced above.
The countries covered in the global online clothing rental market is segmented into report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the online clothing rental market because of the high purchasing power of people within the region. Asia-Pacific is expected to witness high growth during the forecast period of 2022 to 2029 because of the growing consumer awareness and internet penetration in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Online Clothing Rental Market Share Analysis
The online clothing rental market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to online clothing rental market.
Some of the major players operating in the online clothing rental market reports are Rent the Runway, Omapal Technologies Private Limited, GlamCorner, UNION STATION KANSAS CITY, Etiquette Formal Hire Ltd., Gwynnie Bee Inc., Le Tote, Inc., Flyrobe, Chic by Choice, La Reina, STYLE LEND, Gwynnie Bee Inc., American Eagle Outfitters, Poshmark, Envoged, Secoo Holding, and Share Wardrobe among others.