PMR Press Release

<span class="entry-title-primary">Online Clothing Rental Market – Global Trends, Segment, Share, Size Forecast 2023</span> <span class="entry-subtitle">Online Rental Clothing Market: Global Demand Analysis & Opportunity Outlook 2023</span><span class="rating-result after_title mr-filter rating-result-23729" >			<span class="no-rating-results-text">No ratings yet.</span>		</span>
Online Clothing Rental Market
Online Clothing Rental Market – Global Trends, Segment, Share, Size Forecast 2023 Online Rental Clothing Market: Global Demand Analysis & Opportunity Outlook 2023

The online clothing rental market provides services through which consumers can rent garments for a predefined period of time. These services are beneficial for individuals who intend to wear new outfits for special occasions, such as weddings, theme parties, corporate parties, photo shoots, and film shoots. Rental services also provide a cost-effective option for those with budget constraints, which restricts them from purchasing clothing from their choice of brands.

The global online clothing rental market is anticipated to expand at a compound annual growth rate CAGR of 10.76% during the 2018-2023 period and will reach a value of USD 1.96 Bn by 2023, up from USD 1.18 Bn in 2018.

Segmentation Based on Product Type:

Based on product type, the parties and wedding wear segment had the highest market share over 40% in 2018, owing to aggressive marketing through blogs and social media. It is followed by the ‘other’ apparel rental segment with a market share of 36% in 2018. The growth can be attributed to the popularity of subscription packages offered by companies which encourage people to rent casual clothes online. Changes in lifestyle of the working population has also impacted the clothing rental business. To save time on laundry, and at the same time have a range of clothes to choose from every day, are the reasons why people these days opt for online clothing rental services. Moreover, renting clothes are a cost-effective alternative to purchasing them. The formal wear segment accounted for nearly 22% of the global online clothing rental market in 2018, owing to increasing corporate events and business meetings.

Access Full Report with TOC @ https://www.planetmarketreports.com/reports/global-online-clothing-rental-market-2018-2023

Segmentation Based on the End User:

Based on end user, the women’s segment is expected to gain maximum share in terms of value. Women are relatively more fashion conscious and are quick decision makers, because of which they are likely to rent clothes online more often than men. The men’s segment is expected to expand at a CAGR of 10.57% during the 2018-2023 period. It accounted for a market share of nearly 46% in 2018. Also, men find it time-consuming to plan their attire in advance, as in the case of subscription-based facilities.

Regional insights

North America was the leading region in the global online clothing rental market in 2018 owing to the presence of major players and aggressive marketing strategies. It is followed by the Asia-Pacific region because of rising disposable income and fashion consciousness among people in the developing countries of the region. Europe is expected to witness a moderate growth rate, since people in Europe still prefer to purchase clothes over renting them online. The Latin America and the Middle East and Africa markets are still at nascent stages, and are expected to expand at low to moderate growth rates. Increasing Internet penetration and the growing adoption of smartphones are responsible for driving the demand for the online clothing rental market in these regions.

Companies Covered

• Rent the Runway
• Le Tote
• Dress & Go
• Glam Corner
• Drexcode
• Flyrobe
• La Reina
• Style Lend

Customizations available

In case of any queries or customization requirements please connect with our sales team sales@planetmarketreports.com which will ensure that your requirements are met.

Browse a Free Sample Report @ https://www.planetmarketreports.com/report-sample/global-online-clothing-rental-market-2018-2023

About Us:

Planet Market Reports gives statistical surveying reports to businesses, people and associations with a goal of helping them in their decision making process. We have huge database of market research reports & company profiles across globe.  We associated with global market research a publisher who has a wide range of research specialists & industry experts which provides you deeper penetration of market research industry.

We have statistical surveying reports from number of top publishers and update our reports collections on daily basis with most recent research data to furnish our customers with the moment online access to our database. With access to this database, our customers will be able to benefit from expert insights on worldwide businesses, items, and market patterns. We help you in your buy choice by mapping your data needs with our immense accumulation of reports.

Contact US:- 

Name: Jennifer Daniel

Email-Id: sales@planetmarketreports.com

US: +1-716-2260907

UK: +447441952057

Organization: Planet Market Reports

Please rate this

Leave a Reply

Close Menu