Since the pandemic came along and, well… basically ruined everything, there have been major developments across all industries to guarantee their survival and a change we’re seeing within the fashion community is the evolution of clothing rentals.
Now, rentals have been a thing for a minute (think tux rentals in, like, EVERY cheesy rom-com) but instead of being used to try and wow your prom date, the culture around rentals is shifting to everyday wear for our more environmentally conscious fashion consumers who may be on a budget. For example, luxury brands like Mother of Pearl who stock £295 cardigans, can now provide access to staple pieces for a monthly fee of £69 for two items or £99 for four items via the rental platform Onloan.
In an age where posting an outfit repeat on Instagram is considered a form of blasphemy, this movement can see the fashionistas and influencers among us thrive: finally having the option to rock that sweeeet Prada bag without being on a diet of imagination and prayer until payday.
For a lot of people, their wallets simply cannot live up to their taste when buying into an industry centred around exclusivity; this movement, however, paves the way for accessibility in fashion and allows lower-income fashion lovers to live the fantasy… even if it’s just for a night.
Comparatively, people who don’t need to constantly update their wardrobe but want to distance themselves from THAT jacket worn to every family function in the past 20 years (I’m looking at you, Uncle Dave) have the choice to switch it up every now and then for a fraction of the cost with no commitment to a trend that might not be around in a few years.
The reason why brands are so keen to collaborate with these platforms is that the logistics of clothing rental is a completely different beast compared to traditional retail practices. On a normal day, brands design and manufacture their garments, sell them, then that’s the end of the story.
Whereas clothing rental requires management of stock in and out, alongside the cleaning and maintenance of each piece: it seems to be more cost-effective to pay a small commission on rentals than potentially spending developing an internal system during its most profitable era.
The market for rentals in the UK was growing exponentially before the lockdown and, as demand increases and Boris FINALLY lets us out of the house, GlobalData predicts that this facet of the industry will be worth £2.9bn by 2029.
To capitalize on this, retail powerhouse, Selfridges, introduced their own rental collection in collaboration with Hurr Collective in August 2020; allowing clients to rent entire outfits for 4, 8, 10, or 20 days. Additionally, consumers can sell pre-loved designer wear for store credits at Resellfridges, further promoting the shift in consumer culture.
As conversations surrounding sustainability in fashion are becoming more and more prominent, clothing rentals could be the way we close the loop on fast fashion and become greener with our choices as consumers.
When are you planning on debuting your first rental lewk??
Written by Romone Clarke, InZone Plug (Fashion / Influencers)