The latest report by IMARC Group, titled “Online Clothing Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the Online Clothing Rental Market Share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global online clothing rental market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2028, exhibiting a growth rate (CAGR) of 9.65% during 2023-2028. Online clothing rental is a service that allows consumers to rent clothing items for a certain period of time. It is a convenient way to access a variety of clothing items without having to purchase them by paying a rental fee, which is usually based on the length of time of renting the clothing. By renting clothing, individuals can save money and time and have access to a variety of fashionable clothing options. In recent years, it is becoming increasingly popular as consumers seek ways to save money and access fashionable clothing without purchasing them. Some of the common clothing items rented include formal, partywear, casual, and traditional.
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Industry Growth:
Significant growth in the online retail industry majorly drives the global market. This can be supported by the rising popularity of emerging fashion trends. Along with this, consumers are more conscious of their environment and are actively seeking ways to reduce their carbon footprint which has led to a growing demand for online clothing rental services that aid in reducing the need for new purchases, thus impacting the market. In addition, the penetration of high-speed internet connectivity and social media is acting as another growth-inducing factor. Moreover, the advent of personalization and customization in online clothing rental services is creating a positive market outlook. Some of the other factors driving the market include rapid urbanization and digitization.
Some of the Top Companies in the Online Clothing Rental Industry:
- Clothing Rental
- Dress & Go
- Rent it Bae
- Glam Corner Pty Ltd
- Gwynnie Bee
- Le Tote
- Rent The Runway Inc.
- StyleLend
Key Market Segmentation:
Breakup by Clothing Styles:
- Western Wear
- Ethnic Wear
- Others
Breakup by End User:
- Women
- Men
- Kids
Breakup by Price Range:
- Low
- Mid
- Premium
Breakup by End Use Sector:
- Business to Consumer (B2C)
- Business to Business (B2B)
Breakup by Business Model:
- Peer-to-Peer Model
- Standalone Model
- Hybrid Model
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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