Formal Wear & Costume Rental in the US - Industry Market Research Report
Description
Formal Wear & Costume Rental in the US
Formal wear and costume rentals have weakened in recent years resulting from stagnation in the rental customer base, which is adults aged 20 to 64. Rising external competition and falling marriage rates have also contributed to falling rentals. Also, rising household income levels allow consumers to purchase formalwear outright instead of renting. The pandemic also crushed rental services as health and safety regulations forced many physical locations to close. Many special events that require formalwear were also canceled or postponed. Overall, industry revenue has decreased at a CAGR of 4.9% to $691.4 million over the past five years, including a decrease of 5.3% in 2023 alone.
Establishments in this industry primarily rent attire such as formal wear, costumes and other clothing to end consumers. This industry does not include companies that primarily sell these items, nor does it include Internet-based companies. This industry also does not include companies that primarily launder and supply uniforms and work apparel; these operators are included in the Industrial Laundry and Linen Supply industry (IBISWorld report 81233).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Formal wear and costume rentals have weakened in recent years resulting from stagnation in the rental customer base, which is adults aged 20 to 64. Rising external competition and falling marriage rates have also contributed to falling rentals. Also, rising household income levels allow consumers to purchase formalwear outright instead of renting. The pandemic also crushed rental services as health and safety regulations forced many physical locations to close. Many special events that require formalwear were also canceled or postponed. Overall, industry revenue has decreased at a CAGR of 4.9% to $691.4 million over the past five years, including a decrease of 5.3% in 2023 alone.
Establishments in this industry primarily rent attire such as formal wear, costumes and other clothing to end consumers. This industry does not include companies that primarily sell these items, nor does it include Internet-based companies. This industry also does not include companies that primarily launder and supply uniforms and work apparel; these operators are included in the Industrial Laundry and Linen Supply industry (IBISWorld report 81233).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
43 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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