NEW YORK, Feb. 4, 2022 /PRNewswire/ — The “Online Clothing Rental Market by End-user and Geography – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the online clothing rental market between 2020 and 2025 is USD 990.00 million. The growth momentum in the market is expected to accelerate at a CAGR of almost 10% during the forecast period. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The market is driven by factors such as the growing e-commerce fashion industry, the rising participation of people in social occasions, and the growing fast fashion industry. However, challenges such as inventory management challenges, limitation of cross-boundary rental services, and additional fees to avail online clothing rental services will reduce the growth potential in the market.
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The online clothing rental market report is segmented by end-user (women, men, and children) and geography (APAC, North America, Europe, South America, and MEA).
By end-user, the market is generating maximum revenue in the women segment. The increasing demand for women wear for various occasions such as dates, formal meetings, parties, vacations, weddings, outdoor activities, and daily work is driving the growth of the segment. In addition, many vendors are starting to offer styling services for women to improve the customer value proposition. For instance, Rent The Front Row LLC., a vendor based in London offers personalized shopping services for women, apart from sourcing luxury clothing from across the globe and offering wardrobe advice. Such developments among vendors are further accelerating the growth of the segment.
APAC will dominate the market growth, occupying 41% of the global market share. The increasing awareness of sustainability and improvement in laundry services among consumers are driving the growth of the online clothing rental market in APAC. In addition, the growing trend of renting premium clothes online for various social events led by the increase in disposable incomes is fostering the growth of the regional market.
View our sample report for additional insights into the growth contribution of various segments and regions in the market.
Online Clothing Rental Market: Vendor Landscape
The global online clothing rental market is fragmented. The market is characterized by the presence of a large number of domestic and international players. Vendors are continuously updating their offerings according to the latest fashion trends for each season. Besides, the intense competition in the market is forcing vendors to focus on various aspects such as product differentiation, portfolio expansion, and competitive pricing to gain an edge over their rivals.
- Armoire Style Inc.: The company offers online clothing rental services to women.
- Glam Corner Pty Ltd.: The company offers online clothing rental services to women.
- Gwynnie Bee: The company offers online clothing rental services to women.
- La Reina Gown: The company offers online rent clothing such as hijabs, dresses, tops, bottoms for kids and women.
- Le Tote Inc.: The company offers clothing rental services such as classic, maternity, and gift cards for women.
- Lending Luxury
- Mine for Nine LLC
- Rent the Runway Inc.
- Rotaro
- Style Lend Inc.
Gain access to more vendor profiles with their key offerings available with Technavio. Download a Free Sample Now
Related Reports:
Menswear Market by Product, Distribution Channel, and Geography – Forecast and Analysis 2021-2025
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Online Clothing Rental Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of almost 10% |
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Market growth 2021-2025 |
USD 990.00 million |
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Market structure |
Fragmented |
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YoY growth (%) |
8.28 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 41% |
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Key consumer countries |
South Korea (Republic of Korea), Japan, China, US, Germany, and Australia |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Armoire Style Inc., Glam Corner Pty Ltd., Gwynnie Bee, La Reina Gown, Le Tote Inc., Lending Luxury, Mine for Nine LLC, Rent the Runway Inc., Rotaro, and Style Lend Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/
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