Online Clothing Rental Market Overview | Business Growth, Development Factors, Application And Future Prospects 2025
Global Online Clothing Rental Market is valued at USD 1.12 billion in 2019 and expected to reach USD 2.25 billion by 2025 with a CAGR of 10.53% over the forecast period.
A recent report on Online Clothing Rental Market provides a detailed analysis on the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Online Clothing Rental Companies:
Rent the Runway
Elanic Services Pvt Ltd.
The Clothing Rental
Poshmark
Envoged
Etashee
Secoo Holdings Ltd
Flyrobe.com
Gwynnie Bee
Le Tote
Swapdom
StyleLend
Dress Hire
others.
North America is expected to remain a dominant region in the Global Online Clothing Rental Market.
North America is rapidly developing into a growing market for online clothing rental. Youth population rents more and more items in the area to prevent possession. In the United States, clothing rents lag behind other categories, such as cars, furniture and electronics, but the trend in online clothing rents is catching up quickly. A survey by Unibail-Rodamco-Westfield of American customers showed that more than 9% of respondents were in favor of the idea of renting clothes. Businesses and retailers are also responding to the challenges and opportunities of online clothing rental.
Asia Pacific is expected to witness a fastest growth due to strong demand from developing countries like India and China. Increased consumer awareness and the popularity of the Internet are the main drivers of growth in the region. India and China represent more than 34% of the world's population, so increased consumer awareness in these countries is expected to affect overall growth. As per World Economic Forum (WEF), Future of Consumption Fast Growth Consumers Market India 2019 report, 1 in every 5 sophisticated rich population in India use rental apparel apps frequently, while around 50-60% population is aware about it. In these developing countries, consumers have found a better way to buy the clothes of their choice without having to buy them, so renting clothes is the right solution for them.
Key Benefits of Global Online Clothing Rental Market Report-
Global market report covers in depth historical and forecast analysis.
Global market research report provides detailed information about Market Introduction, Market Summary, Global Market Revenue (USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Online Clothing Rental Market Segmentation: -
By Dress-Code: Formalwear, Casuals, Partywear, Ethnics
By Market Type: B2B, B2C
By Business Model: Peer-to-Peer Model, Hybrid model, Standalone model
By End-User: Men, Women, Kids
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