Global Online Clothing Rental Services
Market Report
2024
The online clothing rental services market was valued at USD 1350.3 million in 2022 and will reach USD 3001.4 million by 2030, registering a CAGR of 10.5% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Online Clothing Rental Services Market Report 2024.
The online clothing rental services market was valued at USD 1350.3 million in 2022 and will reach USD 3001.4 million by 2030, registering a CAGR of 10.5% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Online Clothing Rental Services Market Sales Revenue 2022 | $ 1350.3 Million |
Global Online Clothing Rental Services Market Sales Revenue 2030 | $ 3001.4 Million |
Global Online Clothing Rental Services Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.5% |
Market Split by Clothing Style |
|
Market Split by End-User |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Online Clothing Rental Services industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Online Clothing Rental Services Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Online clothing rental services are which enable customers to rent clothes for a predefined period. These services are beneficial for consumers looking for designer dresses, theme party wear, wedding shoot, corporate parties, or filmmaking. These services are cost-effective and also suitable for individuals suffering from temporary changes in their physiques. Furthermore, the rising popularity of fashion vlogs and the television industry boosts the demand for these services.
The changing lifestyle of people and their attitude towards purchasing clothes and other goods has changed significantly. Moreover, with the use of internet services and various advertising platforms, people are offered numerous discounts on total costs for rental uses. Thereby numerous online rental services have made significant changes on their platforms to increase their market reach. Furthermore, online rental clothing and rental services have become convenient, and easy searches with price comparisons have further exceeded the demand for online clothing rental services. The availability of online rental platforms offered customers easy buying and rentals for long-term use and pocket-friendly budgets. Additionally, social media platforms like Facebook and Instagram have a significant impact on the expansion and growth of online clothing rental services. These platforms increase awareness about current trends in lifestyle as well as provide detailed information is given. Therefore, all such factors boost the market growth of online clothing rental services.
There is a lack of customizability on online clothing rental service platforms. The customization is based on customer needs and body type. Since these services are across the globe and undertake huge demographic variations, they tend to lack customizations. In online rental clothing services, we cannot alter or redo before purchase as per individual specifications. Moreover, the market being highly fragmented due to the presence of numerous manufacturers that tends to offer inexpensive and non-branded products. Thus, such factors are expected to impede the market growth of online clothing rental services.
COVID-19 had negatively impacted the online clothing rental services market. The viral transmission across the globe resulted in lockdowns which disrupted the supply and distribution of online clothing services. This indirectly affected the manufacturers and retailers. As the pandemic hit all the regions, the clothing rentals that were highly demanded by working professionals in urban locations suddenly dropped. Moreover, people started working from home and occasions like weddings and parties were postponed, or held online. This led to a decline in demand for rental dresses and outfits. For instance, an Australian rental platform entrepreneur reported that the daily sales decreased from USD 2250 to less than USD 190 in March 2020. Therefore, all such factors were responsible to hinder the growth of online clothing rental services.
We have various report editions of Online Clothing Rental Services Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The key market players in the online clothing rental services market are Chic by Choice, Rent the Runway, Lending Luxury, Share Wardrobe, Secoo Holdings Limited, Gwynnie Bee, Glam Corner Pty, Le Tote, Dress Go, Secret Wardrobe, Girls Meet Dress, Dress Hire, Swapdom, StyleLend, Rentez Vous, FlyRobe, Walkin Closet, Swishlist Couture, Liberent, Mr. Ms. Collection, and Style Lend. These market players focus on their expansion by offering multi-brand product mixes.
In December 2021
Burberry launched its first rental and resale offering via this collaboration, which was made up of key Burberry pieces that have been donated by customers, and it also had a charitable angle. 40 percent of each sale went to Smart Works, an organization that provided high-quality interview clothes and coaching to unemployed women in need.
In July 2022
Saks Off 5th announced a partnership where customers could buy pre-owned designer items from Rent the Runway on its website, which featured a pre-owned section. All items on the Saks Off 5th website were deemed “excellent condition” by Rent the Runway and were identified on the website by a Rent the Runway badge. The curated collection from Rent the Runway featured styles from over 60 designers, with items priced at up to 85% off.
Top Companies Market Share in Online Clothing Rental Services Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America is projected to have the largest market share during the forecast period.
The North American region is projected to have the largest market share of online clothing rental services. Millennials in this region are more frequently renting items rather than purchasing them. According to the article Sustainability, in August 2021, GenZ adults are more inclined to rent clothes rather than buy them. Manufacturers and retailers are responding to both the challenges and opportunities put forth by online clothing rental services. For instance, CaaStle manages all the rental services for its own Gwynnie Bee brand in addition to other retailers like Express, American Eagle Outfitters Inc, and Ann Taylor. Additionally, this is all due to the increasing disposable incomes in this region and therefore drives the market growth of online clothing rental services.
The current report Scope analyzes Online Clothing Rental Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Online Clothing Rental Services Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Online Clothing Rental Services Industry growth. Online Clothing Rental Services market has been segmented with the help of its Clothing Style, End-User , and others. Online Clothing Rental Services market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Ethnic or traditional clothing is dominating the online clothing rental services market as it is one of the cheapest and most easily accessible platforms to buy clothes without purchasing them. Moreover, customers are in search of various alternatives which are pocket-friendly and can get a better option in the ethnic clothing category. Customers prefer renting traditional clothes instead of buying them because they are majorly worn during festivals, special occasions, and very rarely. Therefore, this segment tends to drive the market growth of online clothing rental services.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Online Clothing Rental Services Industry. Request a Free Sample PDF!
The women segment has accounted for the largest market share because of increasing and continuously changing fashion trends. They act as a key growth factor for fuelling the market of online clothing rental services. Moreover, in the occurrence of frequent events, such as a wedding, festivals, dates, or any other occasion, women are very particular in choosing their outfits. Since the prices of clothing for special occasions are quite expensive, women tend to rent online clothing more frequently. They find it more comfortable and mainly suits their needs with numerous options. Therefore, there is a huge demand for online clothing rental outfits among women.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Online Clothing Rental Services Market is witnessing significant growth in the near future.
In 2023, the Ethnic segment accounted for noticeable share of global Online Clothing Rental Services Market and is projected to experience significant growth in the near future.
The Women segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Chic by Choice, Lending Luxury and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Clothing Style | Ethnic, Casuals, Formals, Others |
End-User | Women, Children, Men |
List of Competitors | Chic by Choice, Rent the Runway, Lending Luxury, Share Wardrobe, Secoo Holdings Limited, Gwynnie Bee, Glam Corner Pty, Le Tote, Dress Go, Secret Wardrobe, Girls Meet Dress, Dress Hire, Swapdom, StyleLend, Rentez Vous, FlyRobe, Walkin Closet, Swishlist Couture, Liberent, Mr. Ms. Collection, Style Lend |
This chapter will help you gain GLOBAL Market Analysis of Online Clothing Rental Services. Further deep in this chapter, you will be able to review Global Online Clothing Rental Services Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Clothing Style Analysis 2019 -2031, will provide market size split by Clothing Style. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Clothing Style Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End-User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Online Clothing Rental Services market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Ethnic have a significant impact on Online Clothing Rental Services market? |
What are the key factors affecting the Ethnic and Casuals of Online Clothing Rental Services Market? |
What is the CAGR/Growth Rate of Women during the forecast period? |
By type, which segment accounted for largest share of the global Online Clothing Rental Services Market? |
Which region is expected to dominate the global Online Clothing Rental Services Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Online Clothing Rental Services Market
Request Sample