Global Online Clothing Rental Market will multiply at an impressive CAGR of 10% by 2023 & Top Keys Share Wardrobe, FlyRobe, Walkin Closet, Secret Wardrobe, Swishlist Couture LLP, Liberent, The Mr. & Ms. Collection, LE TOTE and Style Lend

“Online Clothing Rental Market: Global Demand Analysis & Opportunity Outlook 2023”

The global online clothing condominium marketplace is segmented into enterprise model consisting of peer-to-peer version, standalone model and hybrid model. Among these segments, peer-to-peer version phase is expected to dominate the general on-line apparel apartment market and is expected to seize a noteworthy CAGR with the aid of 2023. Moreover, peer-to-peer model online apparel condo segment is expected to attain absolute $ possibility of USD 482 Million at some point of the forecast length i.E. 2015-2023.

Global online clothing rental market is anticipated to mask a notable CAGR of 10% during the forecast period i.e. 2015-2023. Moreover, the global online clothing rental market is projected to account for noteworthy revenue of USD 1.9 Billion by the end of 2023. Additionally, continuous enhancements and research & development in online clothing rental market are the major dynamic factor behind the expansion of online clothing rental market.

Moreover, Rising emphasis on sharing rather than owning and rising awareness about the positive environmental impacts of the sharing economy are propelling the growth of the global online clothing rental market.
In phrases of local market, North America dominates the overall on line apparel rental market and is predicted to achieve Y-o-Y increase charge of 3.7% in 2023 in comparison to preceding yr. Further, Asia Pacific on line garb rental market stood 2d and is predicted to obtain a CAGR of 3.1% in the course of 2015-2023 to attain brilliant sales via 2023. In Asia Pacific location emerging economies consisting of China and India and high quality GDP figures are believed to foster the increase of on line clothing condo marketplace.

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Rapid Advancement in Telecommunications Technology
Telecommunications technology has changes the method of traditional shopping by providing the consumers online internet shopping portal. The advancement in mobile Internet technology has further driven the demand for online shopping by making the process even more convenient. Further, smart phone technology which eases the process of clothing rental is some of the factor driving the global online clothing rental market across the globe.

Cost-effective and Value for Money
Increasing consumer attraction for designer brands and cost-effectiveness associated with their rent which is too less than the purchased product, the key market players are also providing services such as live chat with the designer to attract the consumers. This will boost the online clothing rental market in upcoming 5-6 years. Various online rental enterprises have introduced commendable efforts to enhance their market reach with the help of internet and various advertising innovations for instance rebate on overall costing for booking a month prior to its use.

In contrast, the growth of online clothing rental market is likely to be hindered by lack of customizability and availability of low quality and cheap products rental clothing can’t be adjusted to precisely fit the customer’s needs.

The report titled “Online Rental Clothing Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global online clothing rental market in terms of market by type, by end user, by business model, by product, by price range and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global online clothing rental market which includes company profiling of Rent the Runway, Share Wardrobe, FlyRobe, Walkin Closet, Secret Wardrobe, Swishlist Couture LLP, Liberent, The Mr. & Ms. Collection, LE TOTE, Style Lend. FThe profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global online clothing rental market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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