The Online Clothing Rental Market is estimated to be valued at US$1,313.0 Mn in 2022 and is expected to exhibit a CAGR of 10.33% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Online Clothing Rental Market offers a unique business model where customers can rent clothes for a specific period, eliminating the need for long-term ownership. This platform ... Read more
The online clothing rental market allows consumers to rent high fashion clothes, accessories and handbags for a fraction of the retail price. The clothing rental model provides consumers flexibility and variety with their clothing choices without the heavy financial commitment of purchase. The key advantages of online clothing rental include easy accessibility, affordable prices and green alternative to fast fashion which produces millions of tons of textile waste annually.
The online clothing rental market allows consumers to rent high fashion clothes, accessories and handbags for a fraction of the retail price. The clothing rental model provides consumers flexibility and variety with their clothing choices without the heavy financial commitment of purchase. The key advantages of online clothing rental include easy accessibility, affordable prices and green alternative to fast fashion which produces millions of tons of textile waste annually.
The online clothing rental market allows customers to rent clothes, accessories, and shoes for a fixed time period at affordable prices. Clothing rental provides ecological and economic benefits over fast fashion as it reduces apparel waste and encourages sustainable consumption. Key players such as Rent the Runway, Le Tote, and Urban Outfitters provide subscription plans for unlimited rentals to choose from thousands of current styles by top designers.
