Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "North America Online Clothing Rental Market Size, Share & Industry Trends Analysis Report By End-User (Women, Men, and Children), By Dress Code (Formal, Casual, and Traditional), By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
As the fashion landscape continues to evolve with digital innovation and a growing focus on sustainability, a new industry trends analysis report sheds light on the rising trajectory of the Online Clothing Rental Market in North America. The comprehensive study, now available for viewing, offers critical insights into market size, shares, and growth forecasts from 2023 to 2030.
The market is undergoing significant expansion with an anticipated compound annual growth rate (CAGR) of 7.9% over the forecast period. This is primarily due to the increasing demand for eco-friendly fashion options, as well as the convenience of digital platforms catering to a range of end-users, including women, men, and children for various dress codes such as formal, casual, and traditional wear.
Bolstered by environmental awareness, the popularity of online clothing rental services is surging, particularly in the US, which remains the dominant country in this market. The shift towards a more sustainable wardrobe is gaining traction among eco-conscious consumers, making the rental model an attractive alternative to traditional purchasing patterns. This shift is also visible in Canada and Mexico, with reported CAGRs of 10.3% and 9.4% respectively.
The study also highlights the impact of social media on fashion trends and the increasing willingness of consumers to experiment with new styles without the long-term investment. Online clothing rental platforms are perfectly positioned to cater to these evolving consumer needs.
In the report, segments based on end-user and dress code offer a detailed analysis:
- Women
- Men
- Children
And by dress code:
- Formal
- Casual
- Traditional
Geographic Segmentation Covered:
- United States
- Canada
- Mexico
- Rest of North America
The report includes an in-depth examination of key market stakeholders and profiles a selection of prominent companies that are leading the innovation in the online clothing rental landscape. These profiles provide valuable perspectives on the strategies and offerings that are shaping the market's future.
With a focus on delivering an exhaustive analysis, the publication offers robust data and insights that stakeholders, investors, fashion industry players, and observers can leverage to understand the market's dynamics and capitalize on emerging opportunities.
This rigorous study of the North America Online Clothing Rental Market is poised to serve as an essential resource for navigating the fast-changing fashion rental space, propelled by technology and sustainability.
Companies Mentioned
- The Clothing Rental
- Rent The Runway, Inc.
- Flyrobe (Aark World Pvt Ltd.)
- Gwynnie Bee (CaaStle Inc.)
- Le Tote, Inc.
- By Rotation Ltd.
- Urban Outfitters, Inc.
- Dress Hire AU
- Glam Corner Pty Ltd
- The Secret Wardrobe
For more information about this report visit https://www.researchandmarkets.com/r/4b8g9w
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