ThisThe global online clothing rental market size was valued at $1,102.3 million in 2022 and is estimated to reach $ 2,639.7 million by 2032, growing at a CAGR of 9.2% from 2023 to 2032.
Online clothing rental includes services through which individuals can rent items of clothing for a specific period of time. These services benefit individuals participating in events such as wedding parties, cultural events, theme parties, corporate parties, costume parties, filmmaking, or photo-shoots. Individuals, who are fashion-conscious but lack the financial resources to purchase clothing of their choice, make use of online clothing rental services. Moreover, online clothing rental services are useful for individuals going through temporary changes in their body structure such as pregnant women. Rental services provide a cost-effective option for all genders, which drive the demand for online rented clothes across the globe.
Online clothing rental platforms have immensely contributed to the revenue of the overall online clothing market, by increasing the availability of clothing items with convenience. In addition, online clothing rental platforms are used by people who need clothes for special occasions but prefer not to purchase new clothing every time. From a consumer point of view, clothing rental service providers offer value for money and access to a wide variety of products. They provide access to these apparel without ownership, which is an upcoming trend among millennial consumers who prefer economical alternatives.
Advancements in technology have increased the penetration of the internet as well as the higher utilization of smartphones that has led to the better communication between users and owners through online platforms.
The online clothing rental market exhibits robust growth in North America especially in the U.S., due to the presence of major online clothing rental companies, better opportunities for start-ups in the region, and deeper market penetration. Countries in the Asia-Pacific region such as India and China are witnessing market penetration due to increase in market knowledge and rise in popularity of online clothing rental start-ups.
According to the online clothing rental market analysis, the market is segmented based on clothing style, end user, business model, and region. On the basis of clothing style, the market is segmented into ethnic, western, and others. On the basis of end user, the market is categorized into women, men, and kids. On the basis of business model, it is segregated into subscription based, standalone, and peer to peer. On the basis of region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and the rest of LAMEA).
Glam Corner Pty Ltd., Le Tote, Inc. , Gwynnie Bee, Dress & Go, Rent the Runway, Inc., Front Row, Nuuly, FLYROBE, By Rotation Limited, and MyWardrobeHQ Ltd. are the major companies profiled in the online clothing rental market report. These players are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing online clothing rental market opportunities.
Online clothing rental includes services through which individuals can rent items of clothing for a specific period of time. These services benefit individuals participating in events such as wedding parties, cultural events, theme parties, corporate parties, costume parties, filmmaking, or photo-shoots. Individuals, who are fashion-conscious but lack the financial resources to purchase clothing of their choice, make use of online clothing rental services. Moreover, online clothing rental services are useful for individuals going through temporary changes in their body structure such as pregnant women. Rental services provide a cost-effective option for all genders, which drive the demand for online rented clothes across the globe.
Online clothing rental platforms have immensely contributed to the revenue of the overall online clothing market, by increasing the availability of clothing items with convenience. In addition, online clothing rental platforms are used by people who need clothes for special occasions but prefer not to purchase new clothing every time. From a consumer point of view, clothing rental service providers offer value for money and access to a wide variety of products. They provide access to these apparel without ownership, which is an upcoming trend among millennial consumers who prefer economical alternatives.
Advancements in technology have increased the penetration of the internet as well as the higher utilization of smartphones that has led to the better communication between users and owners through online platforms.
The online clothing rental market exhibits robust growth in North America especially in the U.S., due to the presence of major online clothing rental companies, better opportunities for start-ups in the region, and deeper market penetration. Countries in the Asia-Pacific region such as India and China are witnessing market penetration due to increase in market knowledge and rise in popularity of online clothing rental start-ups.
According to the online clothing rental market analysis, the market is segmented based on clothing style, end user, business model, and region. On the basis of clothing style, the market is segmented into ethnic, western, and others. On the basis of end user, the market is categorized into women, men, and kids. On the basis of business model, it is segregated into subscription based, standalone, and peer to peer. On the basis of region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and the rest of LAMEA).
Glam Corner Pty Ltd., Le Tote, Inc. , Gwynnie Bee, Dress & Go, Rent the Runway, Inc., Front Row, Nuuly, FLYROBE, By Rotation Limited, and MyWardrobeHQ Ltd. are the major companies profiled in the online clothing rental market report. These players are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing online clothing rental market opportunities.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the online clothing rental market analysis from 2022 to 2032 to identify the prevailing online clothing rental market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the online clothing rental market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global online clothing rental market trends, key players, market segments, application areas, and market growth strategies.
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- Consumer Buying Behavior Analysis
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- Average Selling Price Analysis/Price Point Analysis
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- SWOT Analysis
Key Market Segments
By Clothing Style
- Ethnic
- Western
- Others
By End User
- Women
- Men
- Kids
By Business Model
- Subscription based
- Standalone
- Peer to Peer
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest Of Eu
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Saudi Arabia
- Rest of LAMEA
- Gwynnie Bee
- FLYROBE
- By Rotation Limited
- MyWardrobeHQ Ltd
- Glam Corner Pty Ltd
- Front Row
- Rent the Runway, Inc.
- Le Tote, Inc.
- Dress & Go
- Nuuly
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ONLINE CLOTHING RENTAL MARKET, BY CLOTHING STYLE
CHAPTER 5: ONLINE CLOTHING RENTAL MARKET, BY END USER
CHAPTER 6: ONLINE CLOTHING RENTAL MARKET, BY BUSINESS MODEL
CHAPTER 7: ONLINE CLOTHING RENTAL MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Gwynnie Bee
- FLYROBE
- By Rotation Limited
- MyWardrobeHQ Ltd
- Glam Corner Pty Ltd
- Front Row
- Rent the Runway, Inc.
- Le Tote, Inc.
- Dress & Go
- Nuuly
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 400 |
| Published | December 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 1102.3 million |
| Forecasted Market Value ( USD | $ 2639.7 million |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
