Australia Online Clothing Rental Market Insights Forecasts to 2033

• The Market is Growing at a CAGR of 10.30% from 2023 to 2033
• The Australia Online Clothing Rental Market Size is Expected to Hold a Significant Share by 2033

The Australia Online Clothing Rental Market Size is Anticipated to Hold a Significant Share by 2033, Growing at a CAGR of 10.30% from 2023 to 2033.

Market Overview

Online clothing rental is a business that allows the customer to buy clothes and other accessories on rent for a particular period, rather than spending money for purchasing. The main reason for driving the online clothing rental market is the convenience and sustainability which provides designer combinations without ownership restrictions. The Australian retail industry is being developed as per the customers’ expectations which helps to grow the market. Customers want to wear different clothes and accessories for different events and thus people try to buy expensive branded clothes. Thus, such events allow people to buy clothes and accessories on rent, utilize them for a certain period, and again return them. As a result, renting clothes is an easy and affordable way to purchase them. With easy internet access, it became convenient for customers to choose clothes from online stores with wide varieties and online them with economical prices. Various government initiatives allow the market to drive. For instance, the Seamless National Clothing Product Stewardship Scheme initiative, started by Tanya Plibersek, Minister of Environment and Water, intends to make Australian apparel and fashion genuinely circular. The initiative aims to promote new circular business models, increase clothing collection and sorting for efficient reuse, and incentivize clothing designs that are long-lasting, repairable, and recyclable. Clothing brands and retailers pay a levy to fund the program.

Report Coverage

This research report categorizes the market for the Australia online clothing rental based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia online clothing rental market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia online clothing rental market.

Driving Factors

Convenient ways of purchasing and value for money are one of the primary factors behind the growth of the market. Increasing ease of purchasing online is also a major factor that helps to drive the market. There is a major effort by retailers to reach a subsequent height by utilizing the internet and various promotional advertisements, such as discounts on various brands on total costs.  Customers increased expenses on fashion-related activities have become one of the major elements to drive the market. Increased demand for designer gowns by females and also an increase in fashion sense is expected to grow the market significantly. With the changing lifestyles of parents, their children are also becoming fashionable, and thus this further accelerates market development and increases focus on the children’s market.

Restraining Factors

Lack of customization according to customer needs and body shape is one of the most significant barriers to industry expansion. As the rental clothes and accessories cannot be designed according to customer preferences, this greatly impacts the market. The market is hampered due to several unorganized manufacturers that offer low-cost, non-branded products; the industry is extremely competitive.

Market Segmentation

The Australia online clothing rental market share is classified into clothing style and end-user.

• The partywear segment is expected to dominate the Australian online clothing rental market during the forecast period.       

Based on the clothing style, the Australia online clothing rental market is divided into ethnic, western, and others. Among these, the partywear segment is expected to dominate the Australian online clothing rental market during the forecast period. This is attributed because partywear is purchased on rent to look updated according to the market and thus this segment dominates the market.

• The female segment is expected to hold the largest market share through the forecast period.

The Australia online clothing rental market is segmented by end-users into males, females, and kids. Among these, the female segment is expected to hold the largest market share through the forecast period. To keep up with the market’s expanding fashion trends, females are most likely to rent designer clothes and accessories, which helps to drive the Australian clothing rental business.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia online clothing rental market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• The Birdcage Stylist
• Glam Corner Pty Ltd.
• Rent the Runway
• Your Closet Pty Ltd.
• Something Borrowed
• Dress for A Night
• Her Wardrobe
• Dress Hire Au
• The Volte
• Dressed Up

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia online clothing rental market based on the below-mentioned segments:

Australia Online Clothing Rental Market, By Clothing Style

• Ethnic
• Partywear
• Others

Australia Online Clothing Rental Market, By End-User

• Males
• Females
• Kids