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Online Clothing Rental Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: Apr 2022
  • Pages: 133
  • SKU: IRTNTR70523
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The online clothing rental market share is expected to increase to USD 3.00 billion from 2021 to 2026, at a CAGR of 17.91%.

This online clothing rental market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers online clothing rental market segmentations by end-user (women, men, and children) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The online clothing rental market report also offers information on several market vendors, including AARK World Pvt. Ltd, Armoire Style Inc., Dress and Go SA, Front Row, Girl Meets Dress, Glam Corner Pty Ltd., Glamourental, Gwynnie Bee, La Reina Gown, Mine for Nine LLC, My Secret Wardrobe, Rent An Attire, Rent the Runway Inc., Rotaro, Style Lend Inc., Stylease Pvt. Ltd., TheDressBank, Urban Outfitters Inc., Wrapd, and Your secret closet among others.

What will the Online Clothing Rental Market Size be During the Forecast Period?

Online Clothing Rental Market Size

Download the Free Report Sample to Unlock the Online Clothing Rental Market Size for the Forecast Period and Other Important Statistics

 

Online Clothing Rental Market: Key Drivers, Trends, and Challenges

The growing e-commerce fashion industry is notably driving the online clothing rental market growth, although factors such as inventory management challenges may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online clothing rental industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Online Clothing Rental Market Driver

The growing e-commerce fashion industry is one of the key drivers supporting the online clothing rental market growth. Players in the online clothing rental market are fulfilling the increasing clothing requirements of consumers through the provision of online rental services. Consumers prefer renting apparel through online platforms due to the availability of a wide product portfolio and the shopping convenience offered by online clothing rental players. Thus, the global online clothing rental market is expected to grow during the forecast period, with a large number of existing e-commerce players as well as startups expanding their operations by heavily investing in the online clothing rental business.

Key Online Clothing Rental Market Trend

The rising popularity of experiential marketing is one of the key online clothing rental market trends that is contributing to the market growth. Experiential marketing tries to market a product or a service through the direct participation of customers with various marketing efforts. In the online clothing rental market, vendors have adopted experiential marketing by making consumers participate in various marketing activities. Online fashion platforms involved in both sales and rental businesses are attracting more consumers through experiential marketing efforts. Consumers are influenced to participate in various campaigns such as live marketing, participation marketing, loyalty marketing, and event marketing. Moreover, millennials are the most important target group for experiential marketing efforts. These factors will propel the online clothing rental market growth during the forecast period.

Key Online Clothing Rental Market Challenge

Inventory management challenges is one of the factors hindering the online clothing rental market growth. Vendors face stock-outs when there is a high demand for a particular type of clothing, and enough supply is not readily available to them. In addition, a high-speed reverse logistics system is needed to complete product returns, and the returns need to be closely inspected in terms of damages so that the respective customer is held responsible for the damages. Thus, vendors must maintain separate track of SKUs for clothing under different stages such as new items, older items, damaged items, and return items for laundry services. Furthermore, vendors must check for timely replacements of older clothing items with new items. Thus, a weak inventory management system might affect the overall business of vendors operating in the global online clothing rental market.

This online clothing rental market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global online clothing rental market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the online clothing rental market during the forecast period.

Who are the Major Online Clothing Rental Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • AARK World Pvt. Ltd
  • Armoire Style Inc.
  • Dress and Go SA
  • Front Row
  • Girl Meets Dress
  • Glam Corner Pty Ltd.
  • Glamourental
  • Gwynnie Bee
  • La Reina Gown
  • Mine for Nine LLC
  • My Secret Wardrobe
  • Rent An Attire
  • Rent the Runway Inc.
  • Rotaro
  • Style Lend Inc.
  • Stylease Pvt. Ltd.
  • TheDressBank
  • Urban Outfitters Inc.
  • Wrapd
  • Your secret closet

 

This statistical study of the online clothing rental market encompasses successful business strategies deployed by the key vendors. The online clothing rental market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • AARK World Pvt. Ltd - Through the unified segment, the company offers rental services designer clothes, accessories, and shoes. 
  • AARK World Pvt. Ltd - The company offers various types online clothing rental brands such as Zayah, Cerise and The Bontonlux. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The online clothing rental market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Online Clothing Rental Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the online clothing rental market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Online Clothing Rental Market?

Online Clothing Rental Market Market segmentation by region

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44% of the market's growth will originate from APAC during the forecast period. South Korea, Japan, and China are the key markets for the online clothing rental in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing demand for affordable fashion and a wide assortment of fashion goods will facilitate the online clothing rental market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The ongoing COVID-19 pandemic severely impacted APAC countries, which had a negative impact on the regional market growth. However, vaccination drives by the governments helped to stabilize the economy of the APAC region, the growing trend of renting premium clothes online for various social events, and the increase in disposable incomes are the major factors expected to recover and stabilize the growth of the market for online clothing rental in the region during the forecast period.

What are the Revenue-generating End-user Segments in the Online Clothing Rental Market?

Online Clothing Rental Market Segmentation

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The online clothing rental market share growth by the women segment will be significant during the forecast period. Women select attires based on different occasions, such as a date, formal meeting, and others. As occasion wear items are priced high, women are increasingly preferring renting clothing to purchasing them. In addition, the dumping of unwanted clothing into landfills is having a serious environmental impact. Furthermore, a growing number of retailers of branded clothes has pointed out that there has been a rise in the number of women wearing and returning sold items. Also, an increasing number of working women is driving demand for online luxury apparel as these working women prefer online shopping for buying apparel due to a hectic lifestyle. These factors are driving the segment growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the online clothing rental market size and actionable market insights on post COVID-19 impact on each segment.

 

Online Clothing Rental Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 17.91%

Market growth 2022-2026

$ 3.00 billion

Market structure

Fragmented

YoY growth (%)

25.96

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 44%

Key consumer countries

US, South Korea, Japan, China, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AARK World Pvt. Ltd, Armoire Style Inc., Dress and Go SA, Front Row, Girl Meets Dress, Glam Corner Pty Ltd., Glamourental, Gwynnie Bee, La Reina Gown, Mine for Nine LLC, My Secret Wardrobe, Rent An Attire, Rent the Runway Inc., Rotaro, Style Lend Inc., Stylease Pvt. Ltd., TheDressBank, Urban Outfitters Inc., Wrapd, and Your secret closet

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Online Clothing Rental Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive online clothing rental market growth during the next five years
  • Precise estimation of the online clothing rental market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the online clothing rental industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of online clothing rental market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Women - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Women - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Women - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Women - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Women - Year-over-year growth 2021-2026 (%)
    • 5.4 Men - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Men - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Men - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Men - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Men - Year-over-year growth 2021-2026 (%)
    • 5.5 Children - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Children - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Children - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Children - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Children - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 40: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 South Korea - Market size and forecast 2021-2026
      • Exhibit 70: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on South Korea - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on South Korea - Year-over-year growth 2021-2026 (%)
    • 7.10 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 France - Market size and forecast 2021-2026
      • Exhibit 78: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 7.12 China - Market size and forecast 2021-2026
      • Exhibit 82: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 AARK World Pvt. Ltd
              • Exhibit 93: AARK World Pvt. Ltd - Overview
              • Exhibit 94: AARK World Pvt. Ltd - Product / Service
              • Exhibit 95: AARK World Pvt. Ltd - Key offerings
            • 10.4 Armoire Style Inc.
              • Exhibit 96: Armoire Style Inc. - Overview
              • Exhibit 97: Armoire Style Inc. - Product / Service
              • Exhibit 98: Armoire Style Inc. - Key offerings
            • 10.5 Glam Corner Pty Ltd.
              • Exhibit 99: Glam Corner Pty Ltd. - Overview
              • Exhibit 100: Glam Corner Pty Ltd. - Product / Service
              • Exhibit 101: Glam Corner Pty Ltd. - Key offerings
            • 10.6 Gwynnie Bee
              • Exhibit 102: Gwynnie Bee - Overview
              • Exhibit 103: Gwynnie Bee - Product / Service
              • Exhibit 104: Gwynnie Bee - Key offerings
            • 10.7 La Reina Gown
              • Exhibit 105: La Reina Gown - Overview
              • Exhibit 106: La Reina Gown - Product / Service
              • Exhibit 107: La Reina Gown - Key offerings
            • 10.8 Mine for Nine LLC
              • Exhibit 108: Mine for Nine LLC - Overview
              • Exhibit 109: Mine for Nine LLC - Product / Service
              • Exhibit 110: Mine for Nine LLC - Key offerings
            • 10.9 Rent the Runway Inc.
              • Exhibit 111: Rent the Runway Inc. - Overview
              • Exhibit 112: Rent the Runway Inc. - Product / Service
              • Exhibit 113: Rent the Runway Inc. - Key offerings
            • 10.10 Rotaro
              • Exhibit 114: Rotaro - Overview
              • Exhibit 115: Rotaro - Product / Service
              • Exhibit 116: Rotaro - Key offerings
            • 10.11 Style Lend Inc.
              • Exhibit 117: Style Lend Inc. - Overview
              • Exhibit 118: Style Lend Inc. - Product / Service
              • Exhibit 119: Style Lend Inc. - Key offerings
            • 10.12 Stylease Pvt. Ltd.
              • Exhibit 120: Stylease Pvt. Ltd. - Overview
              • Exhibit 121: Stylease Pvt. Ltd. - Product / Service
              • Exhibit 122: Stylease Pvt. Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 123: Inclusions checklist
                • Exhibit 124: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 125: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 126: Research methodology
                • Exhibit 127: Validation techniques employed for market sizing
                • Exhibit 128: Information sources
              • 11.5 List of abbreviations
                • Exhibit 129: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Online Clothing Rental market growth will increase by $3002.44 million during 2022-2026.
              The online clothing rental market is expected to grow at a CAGR of 17.91% during 2022-2026.
              Technavio has segmented the online clothing rental market by end-user (Women, Men, and Children) and geographic (APAC, North America, Europe, South America, Middle East and Africa, APAC, North America, Europe, South America, and MEA).
              AARK World Pvt. Ltd, Armoire Style Inc., Dress and Go SA, Front Row, Girl Meets Dress, Glam Corner Pty Ltd., Glamourental, Gwynnie Bee, La Reina Gown, Mine for Nine LLC, My Secret Wardrobe, Rent An Attire, Rent the Runway Inc., Rotaro, Style Lend Inc., Stylease Pvt. Ltd., TheDressBank, Urban Outfitters Inc., Wrapd, Your secret closet are a few of the key vendors in the online clothing rental market.
              APAC will register the highest growth rate of 44.43% among the other regions. Therefore, the online clothing rental market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the online clothing rental market growth are:
              • Growing e-commerce fashion industry
              • Rising popularity of experiential marketing
              The online clothing rental market vendors should focus on grabbing business opportunities from the women segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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