Fraud Detection & Prevention Mark Skim Market Met Rental Market Online Clothing Market 110 Pages Report
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Online Clothing Rental Market
“With new advancements in technology, rise in globalization, upsurge in startups within the online clothing rental business to cater to the thrifty millennials bandwagon showcase the lucrative market opportunities in years to come.�
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Online Clothing Rental Market
According to a new report published by Allied Market Research, titled, Online Clothing Rental Market by End User and Clothes Style: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global online clothing rental market was valued at $1,013 million in 2017, and is estimated to reach $ 1,856 million by 2023, registering a CAGR of 10.6% from 2017 to 2023. In 2017, number of women online clothing rental and ethnic wear segments dominated the global market share. While, men end user segment and western clothing style segments are anticipated to grow at a robust rate in terms of market share. North America is the market leaders and accounted for 40% share of the global market in 2017, followed by Europe in geographical segment. In addition, Asia-Pacific is estimated to grow at the highest CAGR as projected to be 11.4% during the forecast period.
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Online Clothing Rental Market
The market is increasing in developing economies of Asia-Pacific mainly because of the need of an economical alternative to direct purchasing each time, gradual increase in social acceptance of rental clothes, and overall increase in sales in online clothing industry. Fashion-conscious individuals that lacks the financial resources to purchase the clothing of their choice are expected to make most use of online clothing rental services. Rental services are proved to be a cost-effective option for these end users especially women, who are also thriving on the growth showed in the global online clothing rental market.
Download Free Sample Copy Of Report The primary driver of the global online clothing rental market is the increase in ease of use of online retail. Moreover, rapid advancement observed in internet penetration, growing popularity of online shopping portals over the last decade as boost the market. Download Request Sample
Online Clothing Rental Market Major Companies: Bag Borrow Steal (U.S.) Dress & Go (Brazil) Glam Corner Pty Ltd (Australia) Gwynnie Bee (U.S.) Le Tote (U.S.) Lending Luxury (U.S.) Rent the Runway (U.S.) Secoo Holdings Limited (China) Secret Wardrobe (India) Share Wardrobe (India).
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Online Clothing Rental Market Key Findings of the Online Clothing Rental Market North America leads the online clothing rental market, followed by the Asia-Pacific region. Asia-Pacific which is still in its latent phase of adopting the rental clothing trend, is expected to grow at highest CAGR of 11.4% mainly led by India and China. Women end user segment accounts for the highest market share accounting for nearly 58%, however, the men end user segment is projected to witness highest demand during the forecast period Overall, the Ethnic wear segment possess higher market share and is expected to witness a considerable growth, owing to their frequent use in festivals, higher cost of rental, and greater maintenance costs.
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Online Clothing Rental Market
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