According to the research report titled ‘Global Online Clothing Rental Market Size study, By Clothing Style {Western Wear, Ethnic Wear, Other}, By End-use {Women, Men, Kids}, By End-user sector {Business to Consumer (B2C), Business to Consumer (B2C), Consumer to Consumer (C2C)}, By Price Range {Low, Medium, Premium}, Regional Forecasts 2021-2027‘, available with Market Study Report, global online clothing rental market is slated to record significant growth over 2021-2027.
 

Factors such as flourishing retail sector, convenience and affordability of the product, growing urban population, and rising popularity of online sales are catalyzing the growth of global online clothing rental market.
 

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Moreover, widespread product penetration in consort with low competition are likely to enhance market expansion. Also, the nascent nature of the industry is expected to provide huge growth potential in the ensuing years.
 

It is to be noted that online clothing rental is the simplest way to hire or rent any clothing, footwear, and garments for a certain time period at a low cost. It is an affordable alternative for people who are unwilling to spend money on outfits which are to be worn on a single occasion.
 

Despite the positive industry outlook, dearth of customizability, and difficulties in determining customer needs on online platforms are likely to hamper the growth of worldwide online clothing rental industry over the forecast duration.
 

As per expert verbatim, Europe currently accounts for a major share in the industry, with Western Europe being a significant contributor to regional remuneration. This can be attributed to high purchasing power of customers, and growing fashion awareness in developed nations such as the U.K., Germany, Italy, and France.
 

On the other hand, Asia Pacific is also slated to make its mark in the market space over the next 6 years, owing to its growing population base, and rise in real income in emerging economies such as India and China.
 

Major contenders in worldwide online clothing rental industry sphere include Dress Hire AU, Bag Borrow or Steal, Inc., Style & Co. (Macy’s Inc.), La Reina, Flyrobe, Drexcode S.r.l., GlamCorner Pty. Ltd., Dress & Go, Le Tote, Inc., and Rent the Runway among others.