Why Buy Clothes? Rent Them Instead!

Do you have a tough time keeping up the latest fashions? Or, an even tougher time paying for the new designer clothes you covet? Despair no more. Instead of buying, try renting your clothes!

Renting clothes is a new way to spruce up wardrobes without breaking the bank. While there are a number of subscription-based services such as Rent the Runway, traditional retailers are also entering the new market, including options to rent clothes from Bloomingdales’, Banana Republic, Urban Outfitters, and more. Consumers are not limited to just renting clothing – some retailers rent shoes, jewelry, and handbags, too. And, lest you think this is just for women, a number of companies rent clothing and accessories to men as well.

The clothing rental industry, while still relatively new, is also quite large and still growing. According to research firm GlobalData, the clothing rental industry is roughly $1 billion today, and is projected to grow to $2.5 billion by 2023. Not too shabby (chic).

The sharing economy industry is still establishing itself for consumers who are not interested in owning, but still want access to new brands and services. After all, consumers already rent apartments, homes, cars, bikes, and furniture. Now we can add clothing to the list.

What will you wear?

Group Activities and Discussion Questions:

  1. Discuss the sharing economy. What is it; what drives it; what should we watch?
  2. Show a video overview of clothing rental: https://youtu.be/7OKLqBZoOYY

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