For many people, Christmas brings memories of sadness and upheaval. For families that have recently experienced loss or are strained, the holidays can be stressful. But for other people, the holiday season brings back happy memories, holiday spirit and expectations. Here are five reasons why Christmas is the happiest time of year for clothes rental businesses. Let us explore these reasons below. We hope this article will help you find the perfect gift for someone on your holiday shopping list.
Covid-19
The biggest boom in the clothes rental industry has been seen during the post-Covid period, when the lockdown on stores was lifted. This boosted rental activity, as Covid gave consumers the shock they needed to think about their spending habits. Research by Greenpeace showed that the amount of clothing produced globally has doubled in fifteen years, contributing to PS140m of clothing being sent to landfills in the UK.
The Covid-19 crisis has impacted the clothing rental industry, but luckily, it’s not the end of the world. The panicky lockdowns began last spring, resulting in a massive drop in renting. Ambika Singh, founder of Armarium, was particularly worried about losing her entire customer base. Her company plans to close down by March 2020, while Bloomingdale’s has suspended its My List rental service.
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Clothing rental businesses see a surge in business at Christmas. More people are hiring outfits for special events. Rent The Runway, Onloan and By Rotation are among the companies that provide luxury brands and other types of clothing to their subscribers. Even major retailers like Marks & Spencer are entering this market. The rise in subscriptions during the holiday season helps clothes rental businesses cope with the increased demand.
The retail industry has been hit by the recession, with many high street stalwarts going into administration and celebrated high-fashion houses closing their doors. The fashion rental sector has been affected as well. Those without cash are less likely to attend social engagements and touch common surfaces. The recession has caused consumers to re-think their spending habits. But there’s always an opportunity.
Mr. and Ms. Collection
If you’re in the clothes rental business, you’ve likely seen this phenomenon: subscription boxes bursting with new clothing from top brands. These boxes, called “Subscriptions,” allow you to rent up to PS1,000 of new clothes every month and return them at any time. This makes subscription boxes the most popular time of year for clothes rental businesses. They offer their customers the opportunity to wear the hottest trends and have an endless wardrobe. And, because subscriptions have no expiration date, they’re perfect for anyone who wants to try them on.
Among these subscription boxes are the Mr. and Ms. Collection and GlamCorner. The Ms. Collection, which is aimed at curbing overconsumption of fashion, offers men’s clothing rentals. Other subscription boxes include GlamCorner.com and GlamCorner. Both services offer monthly subscriptions and one-time rentals, and their stylists will curate outfits for their subscribers.
Le Tote
The retail sector is struggling this year, with many high-street stalwarts going into administration, and celebrated high-fashion houses shutting their doors. Not surprisingly, the clothes rental business has also been hit. Many social engagements are being postponed indefinitely, and people are not touching common surfaces. In the festive season, a rise in clothing rental business may seem counter-intuitive, but the fact remains that Christmas is a busy time of year for the fashion rental industry.
With the holidays coming up, clothes rental businesses are looking to capitalize on the increased holiday spending. Many clothing rental businesses will offer discounted prices, allowing customers to save money and still have a wardrobe of quality clothing. The rental price for a single garment is between $8-$40, depending on the brand and style. Subscriptions to the clothing rental company Rent the Runway can also make great holiday gifts.