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Online Clothing Rental Market to grow by USD 3.00 billion from 2021 to 2026, and the rising popularity of experimental marketing to be a key trend in the market – Technavio

NEW YORK, March 14, 2023 /PRNewswire/ — The global online clothing rental market size is estimated to increase by USD 3.00 billion from 2021 to 2026. The market’s growth momentum will decelerate at a CAGR of 17.91%The rising popularity of experiential marketing is a key online clothing rental market trend. In the online clothing rental market, vendors have adopted experiential marketing by including consumer participation in various marketing activities. Online fashion platforms involved in both sales and rental businesses attract more consumers through experiential marketing efforts. Consumers are encouraged to participate in various campaigns like live marketing, participation marketing, loyalty, and event marketing. Furthermore, millennials are the most important target group for experiential marketing efforts. Such factors are expected to propel the online clothing rental market growth during the forecast period.

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Online clothing rental market – Vendor Analysis

Vendor Landscape – The global online clothing rental market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer online clothing rental in the market are AARK World Pvt. Ltd, Armoire Style Inc., Dress and Go SA, Front Row, Girl Meets Dress, Glam Corner Pty Ltd., Glamourental, Gwynnie Bee, La Reina Gown, Mine for Nine LLC, My Secret Wardrobe, Rent An Attire, Rent the Runway Inc., Rotaro, Style Lend Inc., Stylease Pvt. Ltd., TheDressBank, Urban Outfitters Inc., Wrapd, and Your secret closet and others.

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Vendor Offerings –

  • Armoire Style Inc. – The company offers online clothing rental services on a monthly basis.
  • Glam Corner Pty Ltd.- The company offers online clothing rental services under the brand name Zimmermann.
  • Gwynnie Bee – The company offers various types of online clothing rental brands such as Leota, Esakthi, and Vision.
  • For details on the vendor and its offerings – Request a sample report

Online Clothing Rental Market – Segmentation Assessment

Segment Overview

Technavio has segmented the market based on end-user (women, men, and children) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

  • The market share growth by the women segment will be significant during the forecast period. Women select attires depending on different occasions like a date, formal meeting, and others. As occasional clothing wear is priced higher, women increasingly prefer renting clothing over purchasing them. Furthermore, dumping unwanted clothing into landfills has a serious environmental impact. There is also a rising number of branded clothing retailers pointing out that there has been a growth in the number of women returning sold items. Additionally, an increasing number of working women, who prefer online shopping for buying apparel due to a hectic lifestyle are driving demand for online luxury apparel. 

Geography Overview
By geography, the global online clothing rental market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online clothing rental market.

  • APAC is estimated to contribute to 44% of the market’s growth during the forecast period. The factors facilitating the growth of the market in the region include the demand for affordable fashion and a wide assortment of fashion goods. Market growth in the APAC region is expected to be faster than the growth of the market in other regions.

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Online Clothing Rental Market – Market Dynamics

Leading Drivers – 

The growing e-commerce fashion industry is one of the major drivers supporting the online clothing rental market growth. The increasing clothing requirements of consumers are fulfilled through the provision of online rental services. Consumers prefer renting apparel through online platforms because of the availability of a wide product portfolio and the convenience offered by online services. With a large number of existing e-commerce players as well as startups expanding their operations by heavily investing in the online clothing rental business, the global online clothing rental market is expected to grow during the forecast period.

Major challenges – 

Inventory management is one of the primary challenges hindering the online clothing rental market growth. When there is a high demand for a particular type of clothing, and enough supply is not readily available to them, vendors face stock-outs. A high-speed reverse logistics system is needed to complete product returns. Then, the returns need to be closely inspected in terms of damages so that the respective customer could be held responsible for the damages. Hence, vendors must maintain a track of SKUs for clothing under different stages like new items, older items, damaged items, and return items for laundry services. Timely replacements of older clothing items with new items must be checked regularly by the vendors. Therefore, a weak inventory management system might affect the overall business of vendors operating in the global online clothing rental market.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Online Clothing Rental Market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the online clothing rental market between 2022 and 2026
  • Precise estimation of the size of the online clothing rental market size and its contribution to the market with a focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the online clothing rental market across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth in the online clothing rental market vendors

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Online Clothing Rental Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 17.91%

Market growth 2022-2026

USD 3.00 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

25.96

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 44%

Key countries

US, South Korea, Japan, China, France, Canada, Mexico, Italy, Spain, India, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AARK World Pvt. Ltd, Armoire Style Inc., Dress and Go SA, Front Row, Girl Meets Dress, Glam Corner Pty Ltd., Glamourental, Gwynnie Bee, La Reina Gown, Mine for Nine LLC, My Secret Wardrobe, Rent An Attire, Rent the Runway Inc., Rotaro, Style Lend Inc., Stylease Pvt. Ltd., TheDressBank, Urban Outfitters Inc., Wrapd, and Your secret closet

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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.

Browse for Technavio Consumer Discretionary market reports, ToC and LoE

Table of Contents

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by End-user

  • 5.1 Market segments
    • Exhibit 24: Chart on End-user – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on End-user – Market share 2021-2026 (%)
  • 5.2 Comparison by End-user 
    • Exhibit 26: Chart on Comparison by End-user
    • Exhibit 27: Data Table on Comparison by End-user
  • 5.3 Women – Market size and forecast 2021-2026 
    • Exhibit 28: Chart on Women – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Women – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Women – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Women – Year-over-year growth 2021-2026 (%)
  • 5.4 Men – Market size and forecast 2021-2026 
    • Exhibit 32: Chart on Men – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Men – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Men – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Men – Year-over-year growth 2021-2026 (%)
  • 5.5 Children – Market size and forecast 2021-2026 
    • Exhibit 36: Chart on Children – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Children – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Children – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Children – Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by End-user 
    • Exhibit 40: Market opportunity by End-user ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 APAC – Market size and forecast 2021-2026 
    • Exhibit 46: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.4 North America – Market size and forecast 2021-2026 
    • Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026 
    • Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 South America – Market size and forecast 2021-2026 
    • Exhibit 58: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa – Market size and forecast 2021-2026 
    • Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026 
    • Exhibit 66: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 South Korea – Market size and forecast 2021-2026 
    • Exhibit 70: Chart on South Korea – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on South Korea – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on South Korea – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on South Korea – Year-over-year growth 2021-2026 (%)
  • 7.10 Japan – Market size and forecast 2021-2026 
    • Exhibit 74: Chart on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.11 France – Market size and forecast 2021-2026 
    • Exhibit 78: Chart on France – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on France – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on France – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on France – Year-over-year growth 2021-2026 (%)
  • 7.12 China – Market size and forecast 2021-2026 
    • Exhibit 82: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography 
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.3 Impact of drivers and challenges 
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026

9 Vendor Landscape

  • 9.2 Vendor landscape
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 AARK World Pvt. Ltd
    • Exhibit 93: AARK World Pvt. Ltd – Overview
    • Exhibit 94: AARK World Pvt. Ltd – Product / Service
    • Exhibit 95: AARK World Pvt. Ltd – Key offerings
  • 10.4 Armoire Style Inc.
    • Exhibit 96: Armoire Style Inc. – Overview
    • Exhibit 97: Armoire Style Inc. – Product / Service
    • Exhibit 98: Armoire Style Inc. – Key offerings
  • 10.5 Glam Corner Pty Ltd.
    • Exhibit 99: Glam Corner Pty Ltd. – Overview
    • Exhibit 100: Glam Corner Pty Ltd. – Product / Service
    • Exhibit 101: Glam Corner Pty Ltd. – Key offerings
  • 10.6 Gwynnie Bee
    • Exhibit 102: Gwynnie Bee – Overview
    • Exhibit 103: Gwynnie Bee – Product / Service
    • Exhibit 104: Gwynnie Bee – Key offerings
  • 10.7 La Reina Gown
    • Exhibit 105: La Reina Gown – Overview
    • Exhibit 106: La Reina Gown – Product / Service
    • Exhibit 107: La Reina Gown – Key offerings
  • 10.8 Mine for Nine LLC
    • Exhibit 108: Mine for Nine LLC – Overview
    • Exhibit 109: Mine for Nine LLC – Product / Service
    • Exhibit 110: Mine for Nine LLC – Key offerings
  • 10.9 Rent the Runway Inc.
    • Exhibit 111: Rent the Runway Inc. – Overview
    • Exhibit 112: Rent the Runway Inc. – Product / Service
    • Exhibit 113: Rent the Runway Inc. – Key offerings
  • 10.10 Rotaro
    • Exhibit 114: Rotaro – Overview
    • Exhibit 115: Rotaro – Product / Service
    • Exhibit 116: Rotaro – Key offerings
  • 10.11 Style Lend Inc.
    • Exhibit 117: Style Lend Inc. – Overview
    • Exhibit 118: Style Lend Inc. – Product / Service
    • Exhibit 119: Style Lend Inc. – Key offerings
  • 10.12 Stylease Pvt. Ltd.
    • Exhibit 120: Stylease Pvt. Ltd. – Overview
    • Exhibit 121: Stylease Pvt. Ltd. – Product / Service
    • Exhibit 122: Stylease Pvt. Ltd. – Key offerings

11 Appendix

  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 123: Inclusions checklist
    • Exhibit 124: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 125: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 126: Research methodology
    • Exhibit 127: Validation techniques employed for market sizing
    • Exhibit 128: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 129: List of abbreviations

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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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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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SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/online-clothing-rental-market-to-grow-by-usd-3-00-billion-from-2021-to-2026–and-the-rising-popularity-of-experimental-marketing-to-be-a-key-trend-in-the-market—technavio-301769150.html
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