Press release
Online Clothing Rental Market to Reach $1,856 Million, Globally, by Top Companies Bag Borrow Steal (U.S.), Dress & Go (Brazil), Glam Corner Pty Ltd (Australia), Gwynnie Bee (U.S.), Le Tote (U.S.), Lending Luxury (U.S.), Rent the Runway (U.S.), Secoo Holdi
Online Clothing Rental Market
The global online clothing rental market is segmented based on end-users, clothing styles, and geography. Based on end-users, it is classified into women, men, and kids. For clothing styles, it is categorized into ethnic, western, and others. Geographically, it is analyzed into, North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). With regards to the market competition, online renting and re-commerce companies are expanding the pre-owned product market with pioneering solutions to cater to different segments.
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North America already has an established structure for online rentals, here the influx of startup in clothing rentals started five years back. While in Asia-Pacific, increase in internet penetration in developing countries, such as India, China, and Brazil, helps the online clothing rental market post a strong growth rate. As, broadband internet increases, so will the demand for online shopping and online rental services. Additionally, increase in use of mobile technology in these countries are further expected to boost the market.
The convenient way of shopping and value for money is one of the key driver for this market. Other driver of the global online clothing rental market is the increase in ease of use of online retail. There has been major shift in social acceptance of buying and renting pre-owned products. Various online rental enterprises have initiated great efforts to enhance their market reach with the help of internet and various advertising innovations for instance rebate on overall costings for booking a month prior to its use. This has been observed to be attempts to stay competitive and increase the specialized production that leads to more online rentals.
Internet usage for shopping apparels online has become commonplace norm for many people, the added benefits of convenience, easy research ability, and price comparison tools outweigh the effort required to physically visit the traditional bricks-and-mortar store. With online rental platforms, available the consumers are expected to purchase and rent any type of clothing with less economic expenditure and long term use. The impact of social network sites, such as Facebook, Instagram, and online communities have a great impact on the expansion and growth of the market as these social network sites and online communities helps to spread the knowledge about companies and startups in online clothing rental market.
Rapid growth and rise in urbanization have spawned consumers with more expenditure in the market and an urge for fashion. Significant new growth opportunities for foreign and domestic players are observed, owing to high-growth and fast-changing retail and online clothing market in the Asia-Pacific region.
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The online clothing rental is mainly suitable for people who dont want to purchase an expensive dress for a one-time event neither can borrow every time from a friend. Designer gown & accessory rentals that were the exclusive territory of celebrities are becoming a norm common to all. Women prefer variations in new designer brands and decide about the investment. With the usage of these online rental platforms one can now easily experiment with fashion or try a new designer brands. In addition, budget conscious end-users in the millennials age group are a great target market for the online rental industry, but another ideal customer base consists of individuals going through temporary stages of rapid size change, such as pregnant women.
LIST OF FIGURES
FIGURE 1. TOP IMPACTING FACTORS
FIGURE 2. TOP INVESTMENT POCKETS
FIGURE 3. TOP WINNING STRATEGIES
FIGURE 4. BARGAINING POWER OF SUPPLIERS
FIGURE 5. BARGAINING POWER OF BUYERS
FIGURE 6. THREAT OF NEW ENTRANTS
FIGURE 7. COMPETITIVE RIVALRY
FIGURE 8. THREAT OF SUBSTITUTES
FIGURE 9. MARKET POSITIONING, 2016
FIGURE 10. ONLINE CLOTHING RENTAL MARKET GROWTH IN INDIA
FIGURE 11. COMPARATIVE MARKET SHARE ANALYSIS OF ONLINE CLOTHING RENTAL MARKET BY END-USERS, 2016 & 2023(%)
FIGURE 12. MARKET SHARE ANALYSIS OF WOMEN OF ONLINE CLOTHING RENTAL, MARKET BY GEOGRAPHY, 2016 & 2023 (%)
FIGURE 13. WOMEN ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023($MILLION)
FIGURE 14. MARKET SHARE ANALYSIS OF MEN ONLINE CLOTHING RENTAL MARKET BY GEOGRAPHY, 2016 & 2023 (%)
FIGURE 15. MEN ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 16. MARKET SHARE ANALYSIS OF KIDS ONLINE CLOTHING RENTAL MARKET BY GEOGRAPHY, 2016 & 2023 (%)
FIGURE 17. KIDS ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023($MILLION)
FIGURE 18. COMPARATIVE MARKET SHARE ANALYSIS OF ONLINE CLOTHING RENTAL MARKET BY TYPES OF CLOTHES, 2013 & 2023 (%)
FIGURE 19. MARKET SHARE ANALYSIS OF ONLINE CLOTHING RENTAL MARKET FOR ETHINIC CLOTHING STYLES BY GEOGRAPHY, 2016 & 2023 (%)
FIGURE 20. ONLINE CLOTHING RENTAL MAKRET REVENUE FOR EHTNIC CLOTHING STYLES, 2016-2023 ($ MILLION)
FIGURE 21. MARKET SHARE ANALYSIS OF ONLINE CLOTHING RENTAL MARKET FOR WESTERN CLOTHING STYLES BY GEOGRAPHY, 2016 & 2026 (%)
FIGURE 22. ONLINE CLOTHING RENTAL MARKET REVENUE FOR WESTERN CLOTHING STYLES, 2016-2023 ($ MILLION)
FIGURE 23. MARKET SHARE ANALYSIS OF ONLINE CLOTHING RENTAL MARKET FOR OTHERS CLOTHING STYLES BY GEOGRAPHY, 2016 & 2023 (%)
FIGURE 24. ONLINE CLOTHING RENTAL MARKET REVENUE FOR OTHER CLOTHING STYLES, 2016-2023($ MILLION)
FIGURE 25. COMPARATIVE MARKET SHARE ANALYSIS OF ONLINE CLOTHING RENTAL MARKET BY GEOGRAPHY, 2016 & 2023 (%)
FIGURE 26. NORTH AMERICA ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 27. U.S.: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 28. CANADA: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 29. MEXICO: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 30. EUROPE ONLINE CLOTHING RENTALMARKET REVENUE, 2016-2023($MILLION)
FIGURE 31. UK: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 32. GERMANY: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 33. FRANCE: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 34. REST OF EUROPE: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 35. ASIA-PACIFIC ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 36. CHINA: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 37. AUSTRALIA: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 38. REST OF ASIA-PACIFIC: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 39. LAMEA ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 40. LATIN AMERICA: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 41. MIDDLE EAST: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 42. AFRICA: ONLINE CLOTHING RENTAL MARKET REVENUE, 2016-2026 ($MILLION)
FIGURE 43. CHIC BY CHOICE: COMPANY SNAPSHOT
FIGURE 44. DRESS & GO: COMPANY SNAPSHOT
FIGURE 45. GLAM CORNER PTY LTD: COMPANY SNAPSHOT
FIGURE 46. GWYNNIE BEE: COMPANY SNAPSHOT
FIGURE 47. LE TOTE: COMPANY SNAPSHOT
FIGURE 48. LENDING LUXURY COMPANY SNAPSHOT
FIGURE 49. RENT THE RUNWAY: COMPANY SNAPSHOT
FIGURE 50. SECOHOLDINMGS LIMITED: COMPANY SNAPSHOT
FIGURE 51. SECRET WARDROBE: COMPANY SNAPSHOT
FIGURE 52. SHARE WARDROBE: COMPANY SNAPSHOT
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