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Online Clothing Rental Market by End-Users and Clothing Style - Global Opportunity Analysis and Industry Forecast, 2017 - 2023

  • ID: 4612712
  • Report
  • March 2017
  • Region: Global
  • 110 pages
  • Allied Analytics LLP
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Online clothing rental includes services through, which individuals can rent items of clothing for a specific period of time. These services benefit individuals participating in occasional events, such as wedding parties, cultural events, theme parties, corporate parties, costume parties, film-making, or photoshoots. Individuals who are fashion-conscious, but lack the financial resources to purchase the clothing of their choice make use of online clothing rental services. Moreover, online clothing rental services are useful for individuals going through temporary changes in their body structure, such as pregnant women. Rental services provide a cost-effective option for all genders, which drive the demand for online rented clothes, across the globe.

The online clothing rental platforms have immensely contributed to the revenue of the overall online clothing market by increasing the availability of clothing items at convenience. In addition, online clothing rental platforms are used by people who need clothes for special occasions but do not prefer purchasing new clothing every time. From a consumer point of view, these clothing rental service providers are offer value for money offerings and a wide variety of products. They provide access to these apparels without ownership, which is an upcoming trend among millennial consumers who prefer economical alternatives.

Advancements in technology has increased the penetration of internet as well as higher utilization of smartphones has led to the better communication between users and owners through online platforms.

Online clothing rental depicts robust growth in North America especially in the U.S., due to presence of major online clothing rental companies, better opportunities for start-ups in the region, and deeper market penetration. The countries in the Asia-Pacific region such as India and China gain market penetration, due to increase in market knowledge and rise in popularity of online clothing rental start-ups. The market is segmented based on demography, type of clothes, and geography. Based on end-users, it is categorized into women, men, and kids. On the basis of clothing styles, it is classified into ethnic, western, and others. Geographically, it is analyzed into North America, Europe, Asia-Pacific, and LAMEA. The key players profiled in the report include Bag Borrow Steal (U.S.), Dress & Go (Brazil), Glam Corner Pty Ltd (Australia), Gwynnie Bee (U.S.), Le Tote (U.S.), Lending Luxury (U.S.), Rent the Runway (U.S.), Secoo Holdings Limited (China), Secret Wardrobe (India), and Share Wardrobe (India).

KEY BENEFITS

This study provides an in-depth analysis of the global online clothing rental market, in terms of value to elucidate the imminent investment pockets.
A detailed impact analysis of the current trends, regional online clothing rental market size, and future estimations has been provided to target the profitable sectors.
The drivers, restraints, and opportunities are analyzed to identify the prevailing market opportunities.
Porter’s five forces analysis highlights the potency of suppliers and buyers in the competitive market to facilitate efficient business planning.

Online Clothing Rental Market Key Segments

The market is segmented on the basis of demography, types of clothes, and geography.

BY END-USERS

Women
Men
Kids

BY CLOTHING STYLES

Ethnic
Western
Others

BY GEOGRAPHY

North America
Europe
Asia-Pacific
LAMEA

MARKET PLAYERS IN THE VALUE CHAIN

Bag Borrow Steal (U.S.)
Dress & Go (Brazil)
Glam Corner Pty Ltd (Australia)
Gwynnie Bee (U.S.)
Le Tote (U.S.)
Lending Luxury (U.S.)
Rent the Runway (U.S.)
Secoo Holdings Limited (China)
Secret wardrobe (India)
Share Wardrobe (India)

Other players in the value chain include (profiles not included in the report)

Chic by Choice (UK)
Girls Meet Dress (UK)
Dress Hire (UK)
Swapdom (U.S.)
Style Lend (U.S.)
Rentez-Vous
Lulu Yasmin
Note: Product cover images may vary from those shown
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CHAPTER 1 INTRODUCTION
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research methodology
1.5. Secondary research
1.3.1.1. Primary research
1.3.1.2. Secondary Research
1.3.1.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXPERSPECTIVE

CHAPTER 3 MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.2.3 Top winning strategies
3.3. Porters five forces analysis
3.4. Market positioning, 2016
3.5. Market dynamics
3.5.1 Drivers
3.5.1.1. Improvement in technology and increased market penetration
3.5.1.2. Convenient and value for money.
3.5.2 Restraints
3.5.2.1 Less knowledge of online rental among population
3.5.3 Opportunities
3.5.1.3. Rapidly growing economies of China and India.

CHAPTER 4 GLOBAL ONLINE CLOTHING RENTAL MARKET BY END-USERS
4.1. Overview
4.1.1 Market size and forecast
4.2. Women
4.2.1 Key market trends, Growth factors, and Opportunities
4.2.2 Key player positioning
4.2.3 Market size and forecast
4.3. Men
4.3.1 Key market trends, Growth factors, and Opportunities
4.3.2 Key player positioning
4.3.3 Market size and forecast
4.4. Kids
4.4.1 Key market trends, Growth factors, and Opportunities
4.4.2 Key player positioning
4.4.3 Market size and forecast

CHAPTER 5 GLOBAL ONLINE CLOTHING RENTAL MARKET BY CLOTHING STYLES
5.1. Overview
5.1.1 Market size and forecast
5.2. Ethnic
5.2.1 Key market trends, Growth factors, and Opportunities
5.2.2 Market size and forecast
5.3. Western
5.3.1 Key market trends, Growth factors, and Opportunities
5.3.2 Market size and forecast
5.4. Others
5.3.1 Key market trends, Growth factors, and Opportunities
5.3.2 Market size and forecast

CHAPTER 6 ONLINE CLOTHING RENTAL MARKET BY GEOGRAPHY
6.1. Overview
6.1.1 Market size and forecast
6.2. North America
6.2.1 Key market trends, Growth factors, and Opportunities
6.2.2 Market size and forecast
6.2.2.1 By End-User
6.2.2.2 By Clothing Styles
6.2.2.3 By Country
6.2.2.3.1 U.S.
6.2.2.3.2 Canada
6.2.2.3.3 Mexico
6.3. Europe
6.3.1 Key market trends, Growth factors, and Opportunities
6.3.2 Market size and forecast
6.3.2.1 By End-User
6.3.2.2 By Clothing Styles
6.3.2.3 By Country
6.3.2.3.1 UK
6.3.2.3.2 Germany
6.3.2.3.3 France
6.3.2.3.4 Rest of Europe
6.4 Asia-Pacific
6.4.1 Key market trends, Growth factors, and Opportunities
6.4.2 Market size and forecast
6.4.2.1 By End-User
6.4.2.2 By Clothing Styles
6.4.2.3 By Country
6.4.2.3.1 China
6.4.2.3.2 Australia
6.4.2.3.3 Rest of Asia-pacific
6.5 LAMEA (Latin America, Middle East, and Africa)
6.5.1 Key market trends, Growth factors, and Opportunities
6.5.2 Market size and forecast
6.5.2.1 By End-User
6.5.2.2 By Clothing Styles
6.5.2.3 By Region
6.5.2.3.1 Latin America
6.5.2.3.2 Middle East
6.5.2.3.3 Africa

CHAPTER 7 COMPANY PROFILE
7.1 Chic by Choice
7.1.2 Company overview
7.1.3 Company snapshot
7.1.4 Operating business segments
7.1.5 Business performance
7.1.6 Key strategic moves and developments
7.2 Dress & Go
7.2.1 Company overview
7.2.2 Company snapshot
7.2.3 Operating business segments
7.2.4 Business performance
7.2.5 Key strategic moves and developments
7.3 Glam Corner Pty ltd
7.3.1 Company overview
7.3.2 Company snapshot
7.3.3 Operating business segments
7.3.4 Key strategic moves and developments
7.4 Gwynnie Bee
7.4.1 Company overview
7.4.2 Company snapshot
7.4.3 Operating business segments
7.4.4 Business performance
7.4.5 Key strategic moves and developments
7.5 Le Tote
7.5.1 Company overview
7.5.2 Company snapshot
7.5.3 Operating business segments
7.5.4 Business performance
7.5.5 Key strategic moves and developments
7.6 Lending Luxury
7.6.1 Company overview
7.6.2 Operating business segments
7.6.3 Business performance
7.6.4 Key strategic moves and developments
7.7 Rent the Runway
7.7.1 Company overview
7.7.2 Operating business segments
7.7.3 Key strategic moves and developments
7.8 SecoHoldings Limited
7.8.1 Company overview
7.8.2 Operating business segments
7.8.3 Key strategic moves and developments
7.9 Secret Wardrobe
7.9.1 Company overview
7.9.2 Company snapshot
7.9.2 Operating business segments
7.9.3 Business performance
7.9.4 Key strategic moves and developments
7.10 Share Wardrobe
7.10.1 Company overview
7.10.2 Operating business segments
7.10.3 Business performance
7.10.4 Key strategic moves and developments
Other players in the value chain include:
Girls Meet Dress (UK)
Dress Hire (UK)
Swapdom (U.S.)
Style Lend (U.S.)
Rentez-Vous (UK)
*Profiles of these players are not included. The same will be included on request
Note: Product cover images may vary from those shown
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According to a new report titled, Online Clothing Rental Market by End User and Clothes Style: Global Opportunity Alysis and Industry Forecast, 2017-2023, the global online clothing rental market was valued at $1,013 million in 2017, and is estimated to reach $ 1,856 million by 2023, registering a CAGR of 10.6% from 2017 to 2023. In 2017, number of women online clothing rental and ethnic wear segments domited the global market share. While, men end user segment and western clothing style segments are anticipated to grow at a robust rate in terms of market share.

North America is the market leaders and accounted for 40% share of the global market in 2017, followed by Europe in geographical segment. In addition, Asia-Pacific is estimated to grow at the highest CAGR as projected to be 11.4% during the forecast period. The market is increasing in developing economies of Asia-Pacific mainly because of the need of an economical altertive to direct purchasing each time, gradual increase in social acceptance of rental clothes, and overall increase in sales in online clothing industry. Fashion-conscious individuals that lacks the fincial resources to purchase the clothing of their choice are expected to make most use of online clothing rental services. Rental services are proved to be a cost-effective option for these end users especially women, who are also thriving on the growth showed in the global online clothing rental market.

The primary driver of the global online clothing rental market is the increase in ease of use of online retail. Moreover, rapid advancement observed in internet penetration, growing popularity of online shopping portals over the last decade as boost the market. The advancement in mobile internet technology has further driven the demand for online rental by making the process even more convenient. Furthermore, increased e-commerce market within Asia-Pacific also aid the high market growth rate. E-commerce channels are expected to gain popularity in online rental market in the near future with some restraints such as unregulated market, specific rental policies, less social acceptance and knowledge of the platforms among population.

Key findings of the Online Clothing Rental Market

North America leads the online clothing rental market, followed by the Asia-Pacific region.
Asia-Pacific which is still in its latent phase of adopting the rental clothing trend, is expected to grow at highest CAGR of 11.4% mainly led by India and Chi.
Women end user segment accounts for the highest market share accounting for nearly 58%, however, the men end user segment is projected to witness highest demand during the forecast period
Overall, the Ethnic wear segment possess higher market share and is expected to witness a considerable growth, owing to their frequent use in festivals, higher cost of rental, and greater maintence costs.

North America is expected to contribute significantly towards online clothing rental market, due to the increase in fashion consciousness and huge adoption of No Ownership trend towards clothes. It dis anticipated to domite the market throughout the alysis period. However, Asia-Pacific is expected to witness the highest growth rate, owing to the presence of emerging countries, such as Chi.

The key players profiled in this report include Bag Borrow Steal (U.S.), Dress & Go (Brazil), Glam Corner Pty Ltd (Australia), Gwynnie Bee (U.S.), Le Tote (U.S.), Lending Luxury (U.S.), Rent the Runway (U.S.), Secoo Holdings Limited (Chi) , Secret Wardrobe (India), and Share Wardrobe (India).
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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