Global c Overview
According to SPER Market Research, the Global Online Clothing Rental Market is estimated to reach USD 3.06 billion by 2033 with a CAGR of 8.74%.
The global online clothing rental market is expected to expand in forecast period. 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. Some industries need clothes for a brief period of time; hence renting is preferred to buying.
Due to consumers' rising disposable incomes, they are spending more on clothes-related activities, which is a major driver of the online clothing rental market's expansion. In the next years, the market for online garment rentals is anticipated to expand due to the rising demand for pricey designer dresses and consumers' evolving fashion tastes. Another significant element influencing the growth of the online clothes rental sector is the rise of fast fashion labels. Also, a number of clothes rental businesses now use online subscription-based services. These services have stabilized their market by helping to reach a wider client base, and they are anticipated to have a favourable effect during the forecast period.
Online clothing rentals are expected to grow in popularity due to factors like the rising demand for high-end designer outfits and ongoing changes in consumer fashion tastes. The market is also significantly influenced by customers' increased expenditure on trendy activities as their disposable income increases and by the rapid expansion of the number of fashion businesses. The variables that are expected to drive the market expansion include the changing fashion statements among young people and an increase in price-conscious clients renting formal clothing items like premium jackets and suits. Additionally, the market is anticipated to rise due to consumer demand for sports clothing brought on by an increase in the number of people participating in sports and an increase in the number of sporting events. In the upcoming years, manufacturers' increased focus on the children's industry is anticipated to present lucrative market prospects. As a result of their parents' changing lives, kids have grown more brand- and style-conscious, which is likely to foster the expansion of the online clothes rental market. However, a number of unorganized manufacturers offering inexpensive, non-branded products have considerably fragmented the business, which could act as a barrier to market expansion.
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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.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2023 |
| Forecast period | 2023-2033
|
| Segments covered | By Dress Code, By End User, By Age Group, By Business Model
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | Dress Hire, Flyrobe.com, Gwynnie Bee, Le Tote, Rent the runway, Secoo Holding Limited, Share Wardrobe, Style Lend, Swapdom, The Clothing Rental
|
Global Online Clothing Rental Market Segmentation:
1. By Dress Code:
- Casual
- Formal
- Partywear
- Traditional
2. By End User:
3. By Age Group:
- Below 18 years
- 18-25 years
- 26-34 years
- 35-44 years
- 45-54 years
- 55 above years
4. By Business Model:
- Standalone Model
- Subscription Model
5. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Online Clothing Rental Market (FY’2023-FY’2033)
- Overview of Global Online Clothing Rental Market
- Segmentation of Global Online Clothing Rental Market By Dress Code (Casual, Formal, Partywear, Traditional)
- Segmentation of Global Online Clothing Rental Market By End User (Children, Men, Women)
- Segmentation of Global Online Clothing Rental Market By Age Group (Below 18 years, 18-25 years, 26-34 years, 35-44 years, 45-54 years, 55 above years)
- Segmentation of Global Online Clothing Rental Market By Business Model (Standalone Model, Subscription Model)
- Statistical Snap of Global Online Clothing Rental Market
- Global Online Clothing Rental Market Growth Analysis
- Problems and Challenges in Global Online Clothing Rental Market
- Global Online Clothing Rental Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Global Online Clothing Rental Market
- Details on Recent Investment in Global Online Clothing Rental Market
- Competitive Analysis of 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’2023-FY’2033)
- 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 Manufacturing 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 Dress Code, 2019-2033 (USD Million)
7.1 Casual
7.2 Formal
7.3 Partywear
7.4 Traditional
8. Global Online Clothing Rental Market, By End User, 2019-2033 (USD Million)
8.1 Children
8.2 Men
8.3 Women
9. Global Online Clothing Rental Market, By Age Group, 2019-2033 (USD Million)
9.1 Below 18 years
9.2 18-25 years
9.3 26-34 years
9.4 35-44 years
9.5 45-54 years
9.6 55 above years
10. Global Online Clothing Rental Market, By Business Model, 2019-2033 (USD Million)
10.1 Standalone Model
10.2 Subscription Model
11. Global Online Clothing Rental Market, By Region, 2019-2033 (USD Million)11.1 Global Online Clothing Rental Market Size and Market Share by Region (2019-2026)
11.2 Global Online Clothing Rental Market Size and Market Share by Region (2027-2033)
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Europe
11.4.1 France
11.4.2 Germany
11.4.3 Italy
11.4.4 Spain
11.4.5 United Kingdom
11.4.6 Rest of Europe
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 Rest of Middle East & Africa
11.6 North America
11.6.1 Canada
11.6.2 Mexico
11.6.3 United States
11.7 Latin America
11.7.1 Argentina
11.7.2 Brazil
11.7.3 Rest of Latin America
12. Company Profiles
12.1 Dress Hire
12.1.1 Company details
12.1.2 Financial outlook
12.1.3 Product summary
12.1.4 Recent developments
12.2 Flyrobe.com
12.2.1 Company details
12.2.2 Financial outlook
12.2.3 Product summary
12.2.4 Recent developments
12.3 Gwynnie Bee
12.3.1 Company details
12.3.2 Financial outlook
12.3.3 Product summary
12.3.4 Recent development
12.4 Le Tote
12.4.1 Company details
12.4.2 Financial outlook
12.4.3 Product summary
12.4.4 Recent developments
12.5 Rent the runway
12.5.1 Company details
12.5.2 Financial outlook
12.5.3 Product summary
12.5.4 Recent developments
12.6 Secoo Holding Limited
12.6.1 Company details
12.6.2 Financial outlook
12.6.3 Product summary
12.6.4 Recent developments
12.7 Share Wardrobe
12.7.1 Company details
12.7.2 Financial outlook
12.7.3 Product summary
12.7.4 Recent developments
12.8 Style Lend
12.8.1 Company details
12.8.2 Financial outlook
12.8.3 Product summary
12.8.4 Recent developments
12.9 Swapdom
12.9.1 Company details
12.9.2 Financial outlook
12.9.3 Product summary
12.9.4 Recent developments
12.10 The Clothing Rental
12.10.1 Company details
12.10.2 Financial outlook
12.10.3 Product summary
12.10.4 Recent developments
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
