‘No Ownership’ Trend to Boost Online Clothing Rental Services in Developed Markets

Growing shopping convenience and ease of use along with major shift towards social acceptance of renting and buying pre-owned products are likely to be some of the major aspects contributing towards growth and development of online clothing rental market in 2019. Increasing penetration of internet has stimulated online clothing rental options, which makes it a commonplace norm for majority of the population across the world with benefits such as easy research ability, convenience as well as price comparison tools help in outweighing efforts needed for physically visiting usual bricks-and-mortar store. Several online clothing rental companies have been taking immense initiative towards enhancing their global market reach by means of internet and various advertising innovations such as rebate on the total costings for prior booking (a month) before use.

Thrifty Fashion Lovers and Social Networking Sites to Significantly Drive Sales Growth

Social networking sites such as Instagram, Facebook, Twitter and various other online communities have a broader impact on the growth and development of the overall online clothing rental market as the former enables in expanding awareness regarding startups and companies exclusively meant for online clothing rental. This in turn have spawned the consumers with high expenditure in the online clothing rental market along with growing urge for fashion. Accessory and designer grown online clothing rental trend earlier were an exclusive territory of the celebrities, which are now turning out to be a norm that is common to all. Moreover, budget conscious end-users across the millennials age cluster are a notable target market for online clothing rental industry. However, another ideal customer-base in online clothing rental market comprises of those individuals experiencing temporary stages of swift size changes such as the pregnant women.

APAC Online Clothing Rental Market to Hold Incremental Opportunities

Rapidly increasing usage of mobile technology and growing expenditure on fashion in developing regions such as China and India has attributed towards the strong growth rate of online clothing rental market in APAC. Constant developments and R&D in the online clothing rental market are witnessed as major dynamic factors contributing towards the expansion and growth of online clothing rental market. Apart from this, rising emphasis on sharing instead of owning as well as growing awareness regarding the positive environmental effects of sharing economy has led to further growth of APAC online clothing rental market.

Online Clothing Rental Companies Target Consumers with AI, Machine Learning

North America already holds established structure for the online clothing rental market. Online companies such as Amazon are the major purchase influencers in the purchase journey of fashion shoppers. Shoppers are witnessed as spending considerably more time on the company sites for product research and discovery purposes, thereby offering the retailers in online clothing rental market with insights regarding purchase decisions of the buyers. Machine-learning tools and artificial intelligence enables the retailers in leveraging affluence of the consumer data towards responsive designs as well as better product recommendations. This, in turn, helps the companies in the online clothing rental market in launching private-label fashion brands for the customers at entry-level stage. Apart from this, rapidly increasing fashion conscious populace with burgeoning adoption of the No Ownership trend with regards to clothes is likely to further stimulate the growth of North America online clothing rental market in 2019.

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About Sandali 225 Articles
A former journalist, Sandali is a content marketer with over 5 years of writing experience, across various industries including Food Innovation, Healthcare, and IoT and Technology. Sandali has been weaving corporate stories for organizations through different forms of impactful marketing content. Her key aim is to strategically align well-crafted narratives with business objectives, translating into a powerful communications platform for the company.