Rental vs Resale
- kacie-annemoncrief
- Sep 1, 2020
- 1 min read
Gen Z love resale sites such as Depop, although they are proving slower to embrace online rental platforms like Rent the Runway, which offers an innovative, more sustainable alternative to shopping. Gen Z face the issue barrier of subscription payments and the complete abses of ownership, so stick to resale over rental.
Young fashion consumers are interested in renting but in reality their needs aren't being met by existing brands and services.
Being the generation that is most willing to invest in sustainable and ethical fashion, rental may seem like the best option, but Gen Z doesn't yet see rental as a sustainable clothing solution, with the issues of laundry, delivery and returns. Plus companies like URBN and H&M that have launched a rental service while still producing large volumes of inventory for brands like Urban Outfitters*, Anthropologie* and Free People*, making their efforts seem unauthentic.
Another issue with rental services include the assortment on rental sites. Uniqueness is a key driving factor in Gen Z fashion consumption, this drives up the sales in resale listings on sites like Depop where users can buy one-of-a-kind-clothes often at a low cost. While rental platforms are priced out for the majority of people, are set up on a rolling card payment, lack these original pieces and thus, appeal.
Gen Z customers cite a lack of one-of-a-kind variety, the barrier of subscription payments and the total absence of control as reasons to stick to resale over rental.
*Owned by URBN
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