Global Online Clothing Rental Market Overview
According to SPER Market Research, the Global Online Clothing Rental Market is estimated to reach USD 2.81 billion by 2032 with a CAGR of 8.72%.
Due to rising online retail, the market for online apparel rentals is anticipated to grow. It is the main engine of this expansion. The market is also being driven by technical development, internet usage, and the rise in popularity of online shopping portals over the past few years. In addition, the growth of the film, television, and fashion vlog industries is anticipated to stimulate market expansion. These industries need clothes for a brief period of time, hence renting is preferred to buying.It is expected that fashion-conscious people who lack the money to buy the garments of their choice will use all of the resources at their disposal. Renting a product is always more affordable, and this is especially true in this business because fashion trends change frequently and customers don't like to wear the same thing over and over. Customers prefer renting clothing as a result to keep in style. In the near future, it is anticipated that rising e-commerce, particularly in Asia Pacific, will drive the market. Inadequate restrictions, a lack of consumer education, and low levels of public acceptance are the things that are most likely to limit market expansion. In addition, the market is embracing a novel subscription-based kind of online garment renting. In addition to offering clients options, the subscription model generates seasonal money.
Impact of COVID-19 on the Global Online Clothing Rental Market
The online garment rental sector has been badly damaged by the COVID-19. Due to the lockdown, all businesses were forced to close, with the exception of those that provided necessary services. This affected the producers of clothing because it hindered the supply and distribution of online goods. Demand for clothes rentals, which was usually directed toward working professionals in urban areas and those getting ready for a big night out, dramatically decreased when the outbreak hit. Particularly rental platforms saw a drop in demand as more people began working from home and events like weddings and banquets were moved online, postponed, or cancelled. The biggest barrier is the variation in clothing sizes. The size of the person wearing rented clothing cannot be changed. Therefore, the businesses are using novel strategies to get over these limitations, such live conversations with fashion experts. In order to allow customers to choose the product that fits them best, several businesses also sell the same product in two sizes.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Clothing Styles, By Dress Code, By Price Range, By End User, By Business Model, By End User Sector |
| Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Armoire Style Inc., Dress and Go SA, Dress Hire, Flyrobe, Front Row, Girl Meets Dress, La Reina Gown, MEWA Textil Service AG, My Secret Wardrobe, Rent the runway, Secoo Holding Limited, Share Wardrobe, The Clothing Rental, The Mr. & Mrs. Collection, The Dress Bank, Urban Outfitters Inc., Your secret closet |
Target Audience
Global Online Clothing Rental Market Segmentation:
1. By Clothing Styles:
- Western Wear
- Ethnic Wear
- Other Clothing Styles
2. By Dress Code:
3. By Price Range:
4. By End User:
5. By Business Model:
- Peer-to-Peer Model
- Standalone Model
- Hybrid Model
6. By End User Sector:
- Business to Consumer (B2C)
- Business to Business (B2B)
7. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- South America
Key Topics Covered in the Report:- Size of Global Online Clothing Rental Market (FY’2019-FY’2032)
- Overview of Global Online Clothing Rental Market
- Segmentation of Global Online Clothing Rental Market By Clothing Styles (Western Wear, Ethnic Wear, Other Clothing Styles)
- Segmentation of Global Online Clothing Rental Market By Dress Code (Formal, Casual, Traditional)
- Segmentation of Global Online Clothing Rental Market By Price Range (Low, Medium, Premium)
- Segmentation of Global Online Clothing Rental Market By End User (Women, Men, Kids)
- Segmentation of Global Online Clothing Rental Market By Business Model (Peer-to-Peer Model, Standalone Model, Hybrid Model)
- Segmentation of Global Online Clothing Rental Market By End User Sector (Business to Consumer, Business to Business)
- Statistical Snap of Global Online Clothing Rental Market
- Growth Analysis of Global Online Clothing Rental Market
- Problems and Challenges in Global Online Clothing Rental Market
- Competitive Landscape in the Global Online Clothing Rental Market
- Major Players in the Global Online Clothing Rental Market
- SWOT Analysis of Global Online Clothing Rental Market
- Global Online Clothing Rental Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Online Clothing Rental Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4.Heat map analysis
6. Competitive Landscape
6.1. Global Online Clothing Rental Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Online Clothing Rental Market
7. Global Online Clothing Rental Market, By Clothing Styles, 2019-2032 (USD Million)
7.1. Western Wear
7.2. Ethnic Wear
7.3. Other Clothing Styles
8. Global Online Clothing Rental Market, By Dress Code, 2019-2032 (USD Million)
8.1. Formal
8.2. Casual
8.3. Traditional
9. Global Online Clothing Rental Market, By Price Range, 2019-2032 (USD Million)
9.1. Low
9.2. Mild
9.3. Premium
10. Global Online Clothing Rental Market, By End User, 2019-2032 (USD Million)
10.1. Women
10.2. Men10.3. Kids
11. Global Online Clothing Rental Market, By Business Model, 2019-2032 (USD Million)
11.1. Peer-to-Peer Model
11.2. Standalone Model
11.3. Hybrid Model
12. Global Online Clothing Rental Market, By End User Sector, 2019-2032 (USD Million)
12.1. Business to Consumer (B2C)
12.2. Business to Business (B2B)
13. Global Online Clothing Rental Market, By Region, 2019-2032 (USD Million)
13.1. Global Online Clothing Rental Size and Market Share by Region (2019-2025)
13.2. Global Online Clothing Rental Size and Market Share by Region (2026-2032)
13.3. Asia-Pacific
13.3.1. Australia
13.3.2. China
13.3.3. India
13.3.4. Japan
13.3.5. South Korea
13.3.6. Rest of Asia-Pacific
13.4. Europe
13.4.1. France
13.4.2. Germany
13.4.3. Italy
13.4.4. Spain
13.4.5. United Kingdom
13.4.6. Rest of Europe
13.5. Middle East & Africa
13.5.1. Kingdom of Saudi Arabia
13.5.2. United Arab Emirates
13.5.3. Rest of Middle East & Africa
13.6. North America
13.6.1. Canada
13.6.2. Mexico
13.6.3. United States
13.7. Latin America
13.7.1. Argentina
13.7.2. Brazil
13.7.3. Rest of Latin America
14. Company Profiles
14.1. Armoire Style Inc.
14.1.1. Company details
14.1.2. Financial outlook
14.1.3. Product summary
14.1.4. Recent developments
14.2. Dress and Go SA
14.2.1. Company details
14.2.2. Financial outlook
14.2.3. Product summary
14.2.4. Recent developments
14.3. Dress Hire
14.3.1. Company details
14.3.2. Financial outlook
14.3.3. Product summary
14.3.4. Recent developments
14.4. Flyrobe
14.4.1. Company details
14.4.2. Financial outlook
14.4.3. Product summary
14.4.4. Recent developments
14.5. Front Row
14.5.1. Company details
14.5.2. Financial outlook
14.5.3. Product summary
14.5.4. Recent developments
14.6. Girl Meets Dress
14.6.1. Company details
14.6.2. Financial outlook
14.6.3. Product summary
14.6.4. Recent developments
14.7. La Reina Gown
14.7.1. Company details
14.7.2. Financial outlook
14.7.3. Product summary
14.7.4. Recent developments
14.8. MEWA Textil Service AG
14.8.1. Company details
14.8.2. Financial outlook
14.8.3. Product summary
14.8.4. Recent developments
14.9. My Secret Wardrobe
14.9.1. Company details
14.9.2. Financial outlook
14.9.3. Product summary
14.9.4. Recent developments
14.10. Rent the runway
14.10.1. Company details
14.10.2. Financial outlook
14.10.3. Product summary
14.10.4. Recent developments
14.11. Secoo Holding Limited
14.11.1. Company details
14.11.2. Financial outlook
14.11.3. Product summary
14.11.4. Recent developments
14.12. Share Wardrobe
14.12.1. Company details
14.12.2. Financial outlook
14.12.3. Product summary
14.12.4. Recent developments
14.13. The Clothing Rental
14.13.1. Company details
14.13.2. Financial outlook
14.13.3. Product summary
14.13.4. Recent developments
14.14. The Mr. & Mrs. Collection
14.14.1. Company details
14.14.2. Financial outlook
14.14.3. Product summary
14.14.4. Recent developments
14.15. The Dress Bank
14.15.1. Company details
14.15.2. Financial outlook
14.15.3. Product summary
14.15.4. Recent developments
14.16. Urban Outfitters Inc.
14.16.1. Company details
14.16.2. Financial outlook
14.16.3. Product summary
14.16.4. Recent developments
14.17. Your secret closet
14.17.1. Company details
14.17.2. Financial outlook
14.17.3. Product summary
14.17.4. Recent developments
15. List of Abbreviations
16. Reference Links
17. Conclusion
18. Research Scope