An Incisive, In-depth Analysis on the Online Clothing Rental Market
This study offers a comprehensive, 360 degree analysis on the Online Clothing Rental market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Online Clothing Rental market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
In terms of value, the global online clothing rental market is anticipated to expand at a CAGR of 9.8% during the forecast period and is expected to be valued at US$ 1,952.4 Mn by the end of 2026.
Rising spending on fashion worldwide is expected to boost overall market growth
A rising preference for gaining access to designer clothing and ever changing fashion statements are fuelling the global online clothing rental market. With a rising emphasis on sharing rather than owning, gaining instant access to items that one covets to wear without repeating the same attire over and over again and a rising awareness about the positive environmental impacts of the sharing economy are propelling the growth of the global online clothing rental market. Rising disposable income among households especially in developing countries such as China and India has stimulated the consumer spending on fashion. This has strengthened the demand for online clothing on a rented basis. In addition, adoption of mobile devices, especially smartphones and tablets across countries such as China, India, Indonesia, Brazil, and other parts of the globe is growing at a fast pace and is expected to fuel the revenue growth of the global online clothing rental market over the forecast period.
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Men and Kids demographic segments likely to witness highest revenue share
Amongst all demographic segments in the global online clothing rental market, revenue from the men and kids segment is projected to be the highest, with a CAGR of 10.3% and 10.4% respectively over the forecast period 2016–2026. The women segment is expected to remain dominant and is projected to account for 61.0% value share over the forecast period. A continuous demand for western designer dresses from women all across the globe is expected to fuel growth of the online clothing rental market over the forecast period.
Peer-to-Peer business model segment likely to contribute to a larger revenue share of the global online clothing rental market
The peer-to-peer segment is expected to contribute comparatively higher revenues as compared with the other business model segments over the forecast period and is estimated to account for approximately 92.9% value share of the overall global market by 2016 end. The hybrid business model segment is also expected to witness favourable revenue growth in the global online clothing rental market, registering a CAGR of 10.9% over the forecast period. This segment is projected to create incremental $ opportunity of US$ 95.0 Mn between 2016 and 2026.
North America online clothing rental market slated to register highest value growth between 2016 and 2026
Markets in North America and APEJ are expected to contribute significantly to the overall revenue growth of the global online clothing rental market. Rising fashion consciousness and increased spending on fashion in these regions are factors expected to fuel the growth of the online clothing rental market during the forecast period. Amongst all the regions, North America is estimated to dominate the overall revenue share of the global online clothing rental market and is estimated to account for 42.3% market share by the end of 2016. The North America, Western Europe, and APEJ markets are estimated to collectively hold over 90% revenue share of the global online clothing rental market by 2016 end. In all three major markets, the women, men, and kids segments are expected to witness significant growth rates over the forecast period.
Leading market players are focussing on proven business strategies to grab market share
Key companies operating in the global online clothing rental market are Rent the Runway, Poshmark, Elanic Services Pvt Ltd., Dress & Go, GlamCorner Pvt Ltd., Envoged, Etashee, Secoo Holdings Ltd, and Secret Worldwide. These companies are adopting strategies such as new product launches, acquisitions, and geographic expansions to cement their foothold in the global online clothing rental market.
Future Market Insights offers a 10-year forecast for the global online clothing rental market in a new report titled “Online Clothing Rental Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026”. The primary objective of the report is to offer key insights on the expected growth of the global online clothing rental market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the global online clothing rental market over the forecast period.
This report provides a detailed segmentation wise and region wise market analysis of the global online clothing rental market. We have included an extensive analysis of key industry drivers, restraints, market trends, market structure, and other macro-economic factors influencing the growth of the global online clothing rental market and have provided a comprehensive assessment of stakeholder strategies and imperatives for business success. The report begins with an overview of the global online clothing rental market followed by an analysis of the drivers, restraints, trends, opportunities, value chain analysis, and pricing analysis. To understand and assess opportunities in the global online clothing rental market, we have categorised the report into different sections based on market segmentation – by demography, by business model, and by price range. The subsequent sections analyse the global online clothing rental market based on demography, business model, and price range and provide a comprehensive forecast in terms of value for the next 10 years.
In the final section of the report, we have included a competitive landscape of the global online clothing rental market to provide a dashboard view of key companies operating in the global online clothing rental market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global online clothing rental market. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the marketplace. This section also includes detailed profiles of leading players dominating the global online clothing rental market with an analysis of their strengths, weaknesses, opportunities, and threats and an evaluation of their short-term and long-term strategies.
We have conducted in-depth primary and secondary research to ascertain the overall market size of the global online clothing rental market, top industry players, top products, industry associations, etc. The forecast presented in our report assesses the total revenue by value across the global online clothing rental market and to offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the global online clothing rental market is likely to develop in future.
Given the characteristics of the global online clothing rental market, we have triangulated the data gathered through comprehensive primary and secondary research and further scrutinised it using advanced tools to acquire useful qualitative and quantitative insights. Our forecasts are not only in terms of CAGR, but also factor in an in-depth analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the global online clothing rental market. Further, we have analysed the different segments of the global online clothing rental market in terms of Basis Point Share to understand individual segments’ relative contribution to overall market growth. This detailed level of information is important to identify the key trends impacting the global online clothing rental market.
Another important feature of our report is an analysis of the global online clothing rental market in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve in the global online clothing rental market, as well as to identify potential resources from a sales and delivery perspective. To understand key segments in terms of their growth and performance in the global online clothing rental market, we have developed a market attractiveness index to help providers identify existing market opportunities in the global online clothing rental market.