The online rental clothes market is growing at 11 per cent a year. The subscription model is a new style that the clothing rental market is beginning to adopt. It appeals to retailers that must quickly adjust to shifting consumer tastes before particular styles become unpopular.
Despite declining garment sales, the clothing rental industry is expanding its assortments under subscription model plans to reach its clients. The subscription model generates recurrent income in addition to providing potential clients with expertise with clothes’ rental businesses. However, retailers could be able to sidestep the expenses associated with conventional brick-and-mortar enterprises.
The market for clothing rentals and subscriptions also provides designers with immediate access to consumer preferences. The online clothing rental subscription industry is also broadening its consumer base by needing specialty/niche markets. Some of them are employing novel strategies to get traction. Women are allowed to pick out the dresses for their bridesmaids, which can then be returned after being dry-cleaned.Therefore, online garment rental aims to reduce clients’ spending on new apparel for any special occasion or purpose.
The US has emerged as a highly lucrative market, accounting for nearly 95 per cent of the North American market. The UK is performing exceedingly well within the Europe market. Germany and France will continue exhibiting high demand for online clothing rental. Within East Asia, the demand from China and South Korea is expected to be higher than that from Japan.