Online Clothing Rental market Outlook To 2025 By Value & Volume, Trends & Developments, Company market Share & Distribution Share | Rent the Runway,Poshmark,

Online clothing rental is a service that enables customers to rent clothes for a specific period of time. This service is beneficial for consumers looking for a designer dress for occasions such as theme parties, wedding parties, and corporate parties, and filmmaking. Moreover, this service is also suitable for individuals going through temporary changes in their physique.

Increasing spending on fashion activities by consumers due to growing disposable income is a prime factor fueling the market growth of online clothing rental. Growing demand for designer dresses that are expensive coupled with the ongoing changes in the fashion sense among consumers is also expected to augment the market growth of online clothing rental. Moreover, an increasing number of fast fashions brands is another major factors propelling the market growth of online clothing rental.

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Detailed Segmentation:

Global Online Clothing Rental Market, By Demography:
Women
Men
Kids

Global Online Clothing Rental Market, By Business Model:
Peer-to-Peer Model
Standalone Model
Hybrid Model

Global Online Clothing Rental Market, By Price Range:
Premium
Mid
Low

Men's clothing and apparels are gaining traction in the market and this is attributed to the growing number of metrosexual males. Shifting inclination of men towards branded products coupled with the increasing focus of online portals players towards men's rental apparel is again anticipated to fuel the market growth of the online clothing rental.

Growing fashion trends among youngsters coupled with the increasing renting formal clothes such as expensive blazers and suits among price-conscious consumers are expected to spur the market growth. Moreover, the growing demand for sportswear due to increasing number of individuals participating in sports coupled with the rising number of sports activities is also expected to foster the market growth of the online clothing rentals.

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Before pandemic, people used to take clothes on rent for special occasions such as parties, weddings, or holidays. Instead of purchasing new dress for wedding or holiday, they used to burrow it. But due to coronavirus pandemic, all this has changed as weddings have been put on hold and holidays looks like a distant dream. Rent the Runway has announced lay-offs, temporary pay cuts and furloughed staff in response to pandemic. The demand for rental clothes has dropped drastically as people not having events to go.

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