Online Clothing Rental Market is Expected to Represent US$
1,952.4 Mn by 2026
Future Market Insights delivers key insights on the global online
clothing rental market in a new report titled, “Online Clothing
Rental Market: Global Industry Analysis and Opportunity Assessment,
2016–2026”. In terms of value, the global online clothing rental
market is expected to register a CAGR of 9.8% during the forecast
period owing to various factors, which are analysed in detail in this
report.
Growth of the global online
clothing rental market is driven by increasing preference for
fashion and brand consciousness among people across the globe along
with rising internet penetration. Consumers are preferring online
purchase of clothes due to availability of a large variety at a
discounted price. This is fuelling the demand for online rented
clothes globally. Changing consumer lifestyles and increasing demand
for designer dresses, party wear, and dinner suits is expected to
intensify the growth of the global online clothing rental market in
the next 10 years. Increasing urbanisation along with rising personal
disposable income in regions such as the Asia Pacific are driving the
overall growth of the global online clothing rental market.
High profitability margins, ease of resource availability, and rising
economic opportunity in developing nations are some factors
encouraging new players to venture into the global online clothing
rental market. Established players in the global online clothing
rental market are expanding their product portfolio and are focussing
on product innovations and change in target segments, which is
creating robust competition in the market.
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Regional projections
The global online clothing rental market is segmented into the seven
key regions of North America, Latin America, Western Europe, Eastern
Europe, APEJ, Japan, and MEA. Markets in North America, Western
Europe, and APEJ are expected to record high growth rates in terms of
value between 2016 and 2026. Amongst all the regions, North America
is estimated to account for a comparatively higher value share in
2016. Western Europe is another major market for online clothing
rentals. The entry of online luxury fashion due to rising internet
penetration is expected to drive market growth in this region. In the
APEJ region, increasing personal disposable income is a key driver
for sustained growth of the online clothing rental market, and the
APEJ market is expected to register a CAGR of 10.1% during the period
2016-2026. The online clothing rental market is expected to witness
significant growth over the forecast period in countries such as
India, the ASEAN countries, Australia, and New Zealand.
Vendor insights
This report covers detailed profiles of key players operating in the
global online clothing rental market. The report presents key
strategies, key developments, product offerings, and market
performance of leading companies. Some of the top companies profiled
in the global online clothing rental market report are Rent the
Runway, Poshmark, Elanic Services Pvt Ltd., Dress & Go,
GlamCorner Pvt Ltd., Envoged, Etashee, Secoo Holdings Ltd, and Secret
Worldwide.
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