DUBLIN, April 24, 2023 /PRNewswire/ — The “Online Clothing Rental Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global online clothing rental market grew from $1.42 billion in 2022 to $1.57 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The online clothing rental market is expected to grow to $2.35 billion in 2027 at a CAGR of 10.6%.
Major players in the online clothing rental market are Style Lend Company, Rotaro, Rent the Runway, Rent It Bae Company, Mine for Nine LLC, Le Tote, La Reina, Gwynnie Bee, Glam Corner Pty Ltd., FlyRobe, Dress Hire, Dress & Go, ThreadTread, Stylish Play, and Secret Wardrobe.
Reasons to Purchase
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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.
The main types of clothing styles of online clothing retail are western wear, ethnic wear, and others. Western wear clothing refers to clothing styles from countries in the West such as the United States, Canada, or parts of Europe, or which derives their unique style from the clothes worn in the 19th-century American West. The various dress codes of online clothing rental are formal, casual, and traditional wear which are available in the low, mid, and premium price ranges. The different types of end-users of online clothing rental are women, men, and kids.
The online clothing rental market research report is one of a series of new reports that provides online clothing rental market statistics, including online clothing rental industry global market size, regional shares, competitors with a online clothing rental market share, detailed online clothing rental market segments, market trends and opportunities, and any further data you may need to thrive in the online clothing rental industry. This online clothing rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Technological advancements are shaping the online clothing rental market. Technological advancement has helped online clothing businesses to sync up all their operations and business processes.
North America was the largest region in the online clothing retail market in 2022. The regions covered in the online clothing rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the online clothing rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The increasing mobile and internet penetration is expected to propel the growth of the online clothing rental market. Economic development, IT infrastructure, supportive government, and business policies, and the degree of urbanization all have a positive impact on mobile and internet growth. In an online clothing rental service, a person rents clothing online with the use of the internet and makes the payment online.
According to Data Reportal, a Singapore-based business intelligence company, in October 2021, 4.88 billion people (almost 62%) in the world are using the internet. According to Bankmycell, a US-based price comparison site for mobile phones, in 2021, there are 6.378 billion (80.76% of the world population) smartphone users. Therefore, increasing mobile and internet penetration is driving the growth of the online clothing rental market.
The online clothing rental market includes revenues earned by entities by providing services such as subscription-based renting, budgeting, purchasing the inventory, and online store. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Topics Covered:
1. Executive Summary
2. Online Clothing Rental Market Characteristics
3. Online Clothing Rental Market Trends And Strategies
4. Online Clothing Rental – Macro Economic Scenario
4.1 COVID-19 Impact On Online Clothing Rental Market
4.2 Ukraine-Russia War Impact On Online Clothing Rental Market
4.3 Impact Of High Inflation On Online Clothing Rental Market
5. Online Clothing Rental Market Size And Growth
5.1. Global Online Clothing Rental Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Online Clothing Rental Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Online Clothing Rental Market Segmentation
6.1. Global Online Clothing Rental Market, Segmentation By Clothing Styles, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Western Wear
- Ethnic Wear
- Other Clothing Styles
6.2. Global Online Clothing Rental Market, Segmentation By Dress Code, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.3. Global Online Clothing Rental Market, Segmentation By Price Range, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.4. Global Online Clothing Rental Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7. Online Clothing Rental Market Regional And Country Analysis
7.1. Global Online Clothing Rental Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Online Clothing Rental Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/g1o43s
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