Online Clothing Rental Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Online Clothing Rental Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

  • Transparency Market Research
  • Ongoing
  • Retail

Report Description

Online Clothing Rental Market: 

Online clothing rental comprises services through which individuals can rent items of clothing for a predefined period. These services are of benefit to individuals participating in occasionally conducted events, such as wedding parties, theme parties, corporate parties, and photoshoots and filmmaking. Fashion-conscious individuals lacking the financial resources to purchase the clothing of their choice can also make use of online clothing rental services. Moreover, online clothing rental services are also of use for individuals going through temporary changes in their physique, such as pregnant women. Rental services provide a cost-effective option for these demographics, which has driven the demand from the global online clothing rental market.

Online Clothing Rental Market: Drivers and Restraints

The primary driver of the global online clothing rental market is the increasing ease of use of online retail. Thanks to the rapid advancement observed in telecommunications technology, Internet shopping portals have grown in popularity rapidly over the last decade. The advancement in mobile Internet technology has further driven the demand for online shopping by making the process even more convenient. The rapidly growing middle class and corporate sector in developing economies has also expanded the target demographic for the online clothing rental market. Both these factors are expected to retain a strong influence on the trajectory of the global online clothing rental market in the coming years.

Increasing Internet penetration in developing countries with a promising demographic breakdown, such as India, China, Brazil, etc. is also helping the online clothing rental market post a strong growth rate. While mobile telephony in these countries still lags behind developed regions such as North America and Western Europe, broadband Internet is becoming easily available for an increasing portion of the population, which has driven the demand for online shopping and online rental services.

The major restraint on the global online clothing rental market is the lack of customizability. In contrast to purchased items of clothing, which can be refitted according to the individual’s measurements or even customized before buying, rental clothing can’t be adjusted to precisely fit the customer’s needs. This leaves significant scope for discontent among users of online clothing rental services. In response to this, many companies in the online clothing rental market are starting to offer innovative features. Live chats with stylists are becoming an increasingly common feature, while some companies offer the same item in two sizes so that customers may try them on and choose the better fit. Such innovative solutions are making this inherent restraint on the online clothing rental market less cumbersome for market players.

Online Clothing Rental Market: Geographical Overview

The global online clothing rental market is led by North America, followed closely by Europe. Western Europe is by far the dominant segment of the Europe market, thanks to the high purchasing power and fashion consciousness of consumers in developed countries such as France, Italy, Germany, and the U.K. The easy availability of broadband Internet in these regions has also been a major factor in the growth of the online clothing rental market.

However, the larger population of dynamic Asian countries such as China and India is expected to swing the balance in the favor of Asia Pacific in the coming years. The purchasing power of APAC consumers is on the rise due to the growing GDP of developing economies in the region, while Internet penetration is also increasing at promising rates across the region.

In terms of competition, Rent the Runway, Share Wardrobe, Elanic Services Private Limited, Secoo Holding Limited, Stylish Play, FlyRobe, Walkin Closet, and Secret Wardrobe are the major players operating in the global online clothing rental market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Have query on this report?

Make an Enquiry

Success Stories

Our Clients