Rental and Resale Trends in the Global Apparel Market
- Pages: 46
- Published: November 2020
- Report Code: GDRT0025HTR
The COVID-19 pandemic has posed a severe challenge for the apparel industry with stores being closed for months combined with lack of consumers’ willingness to spend on discretionary products, particularly work and occasionwear. Although the pandemic has taken a toll on global apparel demand, the apparel resale market is expected to gain popularity over the coming years. People have emptied their closets as they stayed at home during the pandemic, which has led to a boom in sellers in the resale market. Closet clean ups have necessitated customers to give away their clothes and make some money from the sale. First time customers in the luxury market are also taking advantage of this to get hands on products otherwise too expensive.
Rental and resale helps extend the customer’s association with retailers and increase brand loyalty as they are retained for a longer period.
– Sustainability drives the growth of rental and resale market
– Increased use of digital technologies will further fuel the growth of these business models
– Alarming unemployment levels and fear of an impending global recession has reduced consumers’ willingness to spend on non-essential items.
Reasons to buy
– This report includes analysis, brands and trends in the Global Rental and Resale Apparel Market
– Increased use of digital technologies will further fuel the growth of these business models.
– Discover the market drivers and inhibiters.
– Access some of the leading players in the Global Rental and Resale Apparel Market.
Nordstrom and Macy’s
Table of Contents
Table of Contents
Key trends in the resale and rental apparel market
Drivers and inhibitors
Methodology, definitions & contacts