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Fatpos Global

Global Online clothing rental Market Growth Opportunities Future Trends SWOT Analysis Forecasts – Global Market Insights 2021 to 2030

June 10th, 2021 10:43 AM

Online clothing rental refers to services that enable people to rent clothing for a set period of time online. Individuals who are involved in sporadic activities such as weddings, theme parties, corporate parties, photoshoots, and filming may benefit from these facilities. Online apparel rental services are available to fashion-conscious individuals who do not have the financial means to buy the clothing of their choosing. Furthermore, online clothing rental services are beneficial to people who are experiencing temporary changes in their bodies, such as pregnant women. Rental services are a cost-effective alternative for this population, which has influenced demand from the world market for renting online clothing.

Global Online clothing rental market to surpass USD million by 2030 from USD million in 2020 at a CAGR of 10.41% in the coming years, i.e., 2021-30. Increased simplicity of use of online retail is the key driver of the world online clothing market. In addition, rapid growth in internet penetration, which boosted the market, has been observed in the last decade. The advancement in mobile internet technology has made the demand for online rental even easier. In addition, an expanded e-commerce market also supports a high level of growth within Asia-Pacific. In the near future, e-commerce channels will gain traction in the online rental market with certain limitations, such as unregulated markets, specific leasing policies, and reduced social acceptance and population platforms.

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  • Market size & share analysis
  • Top market players with sales, revenue, and business strategies analysis
  • Market growth drivers and restraints
  • Market opportunities & challenges
  • Research methodology

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Global Online Clothing Rental Market: Key Players

  • Secret Wardrobe
  • Rent the Runway
  • Share Wardrobe
  • Elanic Services Private Limited
  • Secoo Holding Limited
  • Stylish Play
  • FlyRobe
  • Walkin Closet
  • Other Prominent Players

Global Online clothing rental Market: Segments

Traditional segment to grow with the highest CAGR during 2020-30

Global Online clothing rental Market is segmented by dres’ code type into Formal, Casual, and Traditional. During the projected timeline, traditional is expected to have the highest market share. Traditional clothing is worn during festivals and therefore very little is used on rare and special occasions. Consumers, therefore, prefer to rent them rather than buy them. In 2020, formal clothing is expected to hold the largest market share of approximately. Official clothing such as suits and blazers is costly and requires maintenance so rental is a better option for price-conscious and young consumers. During the projected timeframe, the casual wear segment has significant market shares. It includes sportswear, for example, players who cannot get sportswear can rent on the website.

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Global Online Clothing Rental Market Dynamics

Drivers

Surging demand for active apparel

Functional clothing is also becoming increasingly important in the global market due to development in technology and the desire for people for enhanced results. Changing people’s lifestyles and an increasing desire to use active clothing are also anticipated to fuel demand for functional clothing in recent years.

Restraint

Lack of Adaptability

A lack of adaptability is the main restriction of the global online clothing rental market. Unlike clothing acquired, which can be refitted or even customized before purchase as per the measurements taken, the rental clothes cannot be adjusted precisely to meet the needs of the customer. This gives users of online clothing rental services considerable dissatisfaction.

Browse detail report with in-depth TOC @  https://www.fatposglobal.com/reports/online-clothing-rental-market/643

Global Online clothing rental report also contains analysis on:

Online clothing rental Segments:  

    • By Dress Code Type:
      • Formal
      • Casual
      • Traditional
    • By Distribution Channel
      • Online
      • Offline

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Fatpos Global stands for “Failures Are The Pillar of Success”. We are a rapidly-growing global management consulting, advisory, and market research services provider that aims to aid businesses with bold decisions that help them embrace change for their sustainable growth. With the help of our experts and industry veterans and their years of expertise across different industry verticals, we aid businesses with solutions that help in their efficient decision making and Developing executable strategies. With a vibrant ecosystem of robust digital innovation and a vision for the delivery of management consulting, advisory, and market research services and solutions in better, faster, and transformational growth strategies, we thrive to enable our extraordinary thought leadership processes into our services with the equitable analytical tools and experiences that help us make our clients achieve their goals turn into a reality

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