Rent the Runway fills this gap in the market nicely with its elegant, convenient, and affordable solution. Millennials are leading the way in this regard too, with 31% presently subscribed to some kind of physical goods service and 38% at the consideration stage of subscription.įashion can be prohibitively expensive, especially for those generations who don’t have the same levels of disposable income as their forebearers. However, the subscription box industry is booming and has been seeing steady growth over the last five or so years. This is mostly due to exposure of men’s fashion on social media platforms like Instagram and dress codes for men easing up over the years, according to Fashion and Beauty consultants.” Euromonitor predicts that this will continue, forecasting that men’s clothing sales will grow up to 1.7% as compared to women’s 1.4%. The ability to rent those same fashions for a fraction of the cost means they can save money while still stepping out with a regular fresh look.Īccording to Euromonitor, “the purchase estimate for both men’s and women’s clothing has slowed down in the past few years but menswear has started to challenge womenswear. This model is perfect for those millennial customers who want to look their best but, thanks to high living costs, find it hard to justify the financial outlay of keeping up with the metaphorical Joneses. The company also offers a subscription service where customers can receive unlimited or four items per month at a lower total cost than renting separately. Each dress rental includes a backup size to increase the convenience of trying to find the perfect fit. Rent the Runwayįor the uninitiated, Rent the Runway allows customers to rent a range of designer clothing for a four- or eight-day period for as little as 10% of the product’s retail price. This is something that innovative fashion and clothing disruptor, Rent the Runway is all too aware of and has been marketing itself specifically to this demographic. However, the tastes of millennial customers are quite different from the generations which have come before. More importantly, they are the ones looking to spend their hard-earned money on the products and experiences they enjoy. This means they are taking their place in the middle to higher levels of global industry. While certain sections of the population and media use the term synonymously with “young people” the fact of the matter is that most millennials are now in their 30s. Remember, not all men’s clothing rental stores are found online, nor are they all the same.We hear a lot about the millennial market these days, and with good reason. Look for things like coordinated accessories, replacement policies, personalized ensemble suggestions, and money-back guarantees, too. See? Finding the best rental clothes isn’t as hard as it seems. Flexible Membership Terms – Discuss rental policies, return policies, and damage insurance policies ahead of time. Never enter into a rental contract with a company that doesn’t offer you protection.Good clothing rental companies know that, so they employ a well-trained PR staff to address each one promptly and professionally. Friendly Customer Service – Your questions, comments, and concerns are important.In-Stock Options – What’s the point of creating an awesome ensemble if you can’t find all the pieces? The best places to rent clothes for men always have enough to go around (because most guys already hate shopping).You should receive and review several options for mixing, matching, and personalizing your outfits. Large Inventory – Reputable companies can manage massive collections of high-quality menswear. Take the style quiz that’s offered and be as honest as humanly possible in it. Style Quiz – There’s only one way to find out what kinds of clothes you enjoy wearing.
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