Worldwide Online Clothing Rental Industry to 2032 - Players Include GAP, GlamCorner, Le Tote, Mine for Nine and Mr. & Ms. Collection

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Jan 04, 2023, 06:00 ET

DUBLIN, Jan. 4, 2023 /PRNewswire/ -- 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.

Companies Mentioned

By Rotation LTD
Casstle. Inc
Chic by Choice Company
Dress & Go Company
Dress Hire AU
Gap Inc.
GlamCorner Pty Ltd.
Le Tote Inc.
Mine for Nine, LLC
Mr. & Ms. Collection
MY WARDROBE HQ
Others (As per Request)
RENT It Bae Company
Rent The Front Row LLC
Rent the Runway
Rotaro
STYLE Lend Company
The Secret Wardrope
Thread Rentals
Urban Outfitters

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.

Key Takeaways from the Online Clothing Rental Market Study

The latest study has forecast the market to rise at a CAGR of ~11.0% between 2021 and 2031
The U.S. has emerged as a highly lucrative market, accounting for nearly 95% of the North America market
The U.K. is projected to register 11.8% Y-o-Y growth in 2021, performing exceedingly well within the Europe market
Germany and France will continue exhibiting high demand for online clothing rental
Within East Asia, the demand for China and South Korea is expected to be higher than Japan

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 Topics Covered:

1. Executive Summary

2. Market Overview

3. Key Market Trends
3.1. Key Trends Impacting the Market
3.1.1. Various Fashion Designers Are Incorporating Recycling Programs and Introducing New Collections with Eco-Friendly Fibers
3.1.2. Good Looks Have Become a Matter of Self-esteem among Customers
3.1.3. Millennials are a Driving Force
3.1.4. Rapid Emergence of Start-ups in Online Clothing Rental Market
3.1.5. Growing Trend of Personal Grooming among Men
3.1.6. Globalization Impacting Lifestyles
3.1.7. Rapidly Growing Online Start-Ups to Sell Pre-Owned Branded and Designer Apparel
3.1.8. Consumers are Demanding Changes
3.1.9. Consumers Selecting At-home Services, Using E-Commerce
3.1.10. Others
3.2. Product Innovation Trends
3.2.1. Manufacturers Increasingly Spending on R&D and Stepping Up Eco-friendly Material
3.2.2. The end of ownership to user ship for fashion products
3.2.3. Prominent Players are Now Diversifying Into Other Profitable Segments
3.2.4. Technological Advancements are Shaping the Online Clothing Rental Market
3.3. Future Prospects of Online Clothing Rental Industry
3.3.1. Factors Fueling Growth
3.3.2. Influx of Brands
3.3.3. Innovative Distribution & Marketing Strategies

4. Online Clothing Rental Market Demand (in Value or in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis

5. Market Background
5.1. Macro-Economic Factors
5.1.1. Global GDP Growth Outlook
5.1.2. Urbanization Overview
5.1.3. Global Population Growth
5.1.4. Per Capital Expenditure
5.1.5. Global e-Commerce Industry Outlook
5.1.6. Global Per-Capital Disposal Expenditure Outlook
5.1.7. Impact of Online Sales
5.1.8. Global Consumer Spending Outlook
5.1.9. Consumer Buying Behaviour Analysis
5.2. Forecast Factors - Relevance & Impact
5.2.1. Top Companies Historical Growth
5.2.2. Global Industry Production Outlook
5.2.3. Manufacturing Sector Gross Value Added
5.2.4. Global Retail Sales Outlook
5.2.5. Global Urbanization Growth Impact
5.2.6. Worldwide Internet User Statistics
5.2.7. Overall Expenditure on Eco-friendly Products
5.2.8. Global Clothing Industry Outlook
5.2.9. Population Growth Statistics
5.2.10. Global Online Clothing Rental Industry Assessment
5.3. Industry Value and Supply Chain Analysis
5.4. Market Dynamics
5.4.1. Drivers
5.4.2. Restraints
5.4.3. Opportunity Analysis
5.5. PESTLE Analysis of Menstrual Cups Market
5.6. Investment Feasibility Matrix
5.7. Porter's Five Force

6. Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032, by Product Type
6.1. Introduction/Key Findings
6.2. Historical Market Size (US$ Mn) Analysis By Product Type, 2017-2021
6.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product Type, 2022-2032
6.3.1. Men's
6.3.1.1. knitwear
6.3.1.2. Trousers & Jeans
6.3.1.3. Jumpsuits
6.3.1.4. Coats & Jackets
6.3.1.5. Ethnic Wear
6.3.1.6. Performance Wear
6.3.1.7. Active Wear
6.3.1.8. Longue Wear
6.3.2. Women's
6.3.2.1. knitwear
6.3.2.2. Trousers & Jeans
6.3.2.3. Jumpsuits
6.3.2.4. Coats & Jackets
6.3.2.5. Skirt & Shorts
6.3.2.6. Ethnic Wear
6.3.2.7. Performance Wear
6.3.2.8. Active Wear
6.3.2.9. Longue Wear
6.3.3. Kids
6.3.3.1. Casual Wear
6.3.3.2. Formals
6.3.3.3. Semi-Formals
6.4. Market Attractiveness Analysis By Product Type

7. Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032, by Business Model
7.1. Introduction/Key Findings
7.2. Historical Market Size (US$ Mn) Analysis By Business Model, 2017-2021
7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Business Model, 2022-2032
7.3.1. Standalone Model
7.3.2. Subscription Model
7.4. Market Attractiveness Analysis By Business Model

8. Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032, by End User
8.1. Introduction/Key Findings
8.2. Historical Market Size (US$ Mn) Analysis By End User, 2017-2021
8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2022-2032
8.3.1. Business to Consumer (B2C)
8.3.2. Business to Business (B2B)
8.4. Market Attractiveness Analysis By End User

9. Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032, by Age Group
9.1. Introduction/Key Findings
9.2. Historical Market Size (US$ Mn) Analysis By Age Group, 2017-2021
9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Age Group, 2022-2032
9.3.1. Below 18 years
9.3.2. 18-25 years
9.3.3. 26-34 years
9.3.4. 35-44 years
9.3.5. 45-54 years
9.3.6. 55 Above years
9.4. Market Attractiveness Analysis By Age Group

10. Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032, by Region
10.1. Introduction
10.2. Historical Market Size (US$ Mn) Analysis By Region, 2017-2021
10.3. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2022-2032
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. East Asia
10.3.5. South Asia
10.3.6. Oceania
10.3.7. MEA
10.4. Market Attractiveness Analysis By Region

11. North America Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032

12. Latin America Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032

13. Europe Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032

14. East Asia Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032

15. South Asia Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032

16. Oceania Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032

17. MEA Online Clothing Rental Market Analysis 2017-2021 and Forecast 2022-2032

18. Market Structure Analysis
18.1. Market Analysis by Tier of Companies
18.2. Market Concentration
18.3. Market Share Analysis of Top Players
18.4. Market Presence Analysis
18.4.1. By Regional footprint of Players
18.4.2. Product foot print by Players
18.4.3. Channel Foot Print by Players

19. Competition Analysis
19.1. Competition Dashboard
19.2. Pricing Analysis by Competition
19.3. Competition Benchmarking
19.4. Competition Deep Dive