Consumers are spending more on clothing activities as their disposable incomes increase, which is a significant factor driving the growth of the online clothing rental market. The growing demand for expensive designer dresses, combined with consumers' changing fashion sense, is expected to fuel the growth of the online clothing rental market in the coming years. An increasing number of fast fashion brands is also a major factor driving the growth of the online clothing rental market.
Market Dynamics
Increasing adoption of western trends across developing regions coupled with the growing middle-class population is expanding the consumer base of the global online clothing rental market. Growing digitalization across developed as well as developing regions and increasing focus of the provider to come up with innovative solutions such as live chats with professionals and stylists is also expected to fuel the market growth of the clothing rental market.
Rise in the apparel & fashion industry across the Asia Pacific region is augmenting the market growth of online clothing rental. This is attributed to growing internet penetration and the development of the overall economy.
Lack of awareness regarding the benefits of online rental products among the consumer due to lack of advertisement is expected to restrict the market growth of online clothing rental. Most consumers residing in developing countries are not aware of online clothing rental platforms.
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