Global Online Clothing Rental Market Analysis 2024, Forecast To 2033
22 Feb, 2024
The online clothing rental market has experienced rapid growth, escalating from $1.57 billion in 2023 to $1.75 billion in 2024, indicating an 11.4% CAGR. This growth is attributed to evolving consumer attitudes, environmental awareness, the sharing economy's rise, a desire for fashion variety without long-term commitment, and the growth of e-commerce platforms. Future projections suggest a swift growth to $2.63 billion by 2028, with a 10.8% CAGR. The growth is fueled by sustainability consciousness, circular fashion adoption, on-demand fashion emphasis, designer outfit demand, and shifting fashion preferences. Major trends include technological advancements in virtual fitting, specialized rental platforms, fashion brand collaborations, AI in recommendations, and high-end fashion rental expansion.
Global Online Clothing Rental Market Key Driver
The online clothing rental market is witnessing growth due to the increasing mobile and internet penetration. With 4.88 billion internet users globally and 80.76% of the world population using smartphones, the online clothing rental market benefits from the expanding digital landscape. The ease of online transactions and accessibility contribute to the market's growth.
Get A Free Sample Of The Global Online Clothing Rental Market ReportGlobal Online Clothing Rental Market Segments
The online clothing rental market covered in this report is segmented –
1)By Clothing Styles: Western Wear, Ethnic Wear, Other Clothing Styles
2)By Dress Code: Formal, Casual, Traditional
3)By Price Range: Low, Mid, Premium
4)By End User: Women, Men, Kids
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the online clothing retail market in 2023. The regions covered in the online clothing rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Online Clothing Rental Industry Players
Style Lend Company; Rotaro Engineers Private Limited; Rent the Runway Inc.; Aark World Private Limited; Mine for Nine LLC; Le Tote Inc.; La Reina Inc.; Gwynnie Bee; Glam Corner Pty Ltd.; Omapal Technologies Pvt. Ltd.; Dress Hire; Dress & Go Locação de Vestidos e Acessórios Ltda; Threads (India) Limited; Stylish Play LLC; The Secret Wardrobe Ltd.; Nuuly Rent URBN SR LLC; Armoire Style Inc.; Haverda sh; The Mr. & Ms. Collection; Tulerie Inc.; Curtsy Inc.; Wardrobe Icons Ltd.; Voice over Long-Term Evolution; Dress Up India Private Limited; Fitzroy Robinson Ltd.; The Borrowed Collective Ltd.; Designer Wardrobe Ltd.; The Clothing Rental; The Wardrobe Company Ltd.; The Style Capsule
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Online Clothing Rental Market Overview
Online clothing rental refers to services that allow clients to rent apparel and other accessories for some time. These services offer fashion items from different brands that customers can filter by categories and styles. The presence of online clothing rental services enables people to lower the need for getting new clothes for special occasions and thus save money.
Online Clothing Rental Global Market Report 2023 provides data on the global online clothing rental market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The online clothing rental market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.