Global Online Clothing Rental Market Analysis Report 2022-2032: Various Fashion Designers Are Incorporating Recycling Programs and Introducing New Collections with Eco-Friendly Fibers – ResearchAndMarkets.com – Business Wire

DUBLIN–()–The “Online Clothing Rental Market by Product Type, Business Model, End User, Age Group and Region – Forecast 2022-2032” report has been added to ResearchAndMarkets.com’s offering.

The online clothes rental market size will significantly grow between 2021 and 2031. The market is projected to produce US$ 1.8 billion by 2021.
The subscription model is a new style that the clothing rental market is beginning to adopt. It appeals to retailers that must quickly adjust to shifting consumer tastes before particular styles become unpopular.
Despite declining garment sales, the clothing rental industry is expanding its assortments under subscription model plans to reach its clients. The subscription model generates recurrent income in addition to providing potential clients with expertise with clothes rental businesses. However, retailers could be able to sidestep the expenses associated with conventional brick-and-mortar enterprises.
The market for clothing rentals and subscriptions also provides designers with immediate access to consumer preferences. The online clothing rental subscription industry is also broadening its consumer base by needing specialty/niche markets. Some of them are employing novel strategies to get traction. For instance, Gwynnie Bee offers plus-size consumers rental clothes, in contrast to other online fashion rental businesses.
In the meanwhile, Union Station wants to do away with the hassle of purchasing bridesmaid dresses, which are frequently expensive and chosen based on the lady, not the wearer’s tastes and style. The company allows women to pick out dresses for their bridesmaids, which can then be returned after being dry-cleaned.
Therefore, online garment rental aims to reduce clients’ spending on new apparel for any special occasion or purpose.
COVID-19 Causing Disruptions in Online Clothing Rental
Online garment rental was slated for sustainability before COVID-19, but the pandemic has created substantial delays as occasions like weddings, social gatherings, and other festivities had to be postponed due to the implementation of lockdown in numerous countries around the world.
Rental demand fell, according to businesses like Rotaro, Rent the Runway, and others. Since the majority of online garment rental businesses depend on events, the pandemic period saw a significant impact on the industry when there were no events and few people going out.
Key Takeaways from the Online Clothing Rental Market Study
Who is winning?
Key Market Trends
Key Trends Impacting the Market
Product Innovation Trends
Future Prospects of Online Clothing Rental Industry
Competition Analysis
For more information about this report visit https://www.researchandmarkets.com/r/1d5lu6
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

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