Category
Autos
Racing Homage
Trend cluster
Category
Borrowed
Luxury
High-end rentals allow less affluent consumers temporary indulgences.
2.5
Trend score
Trend
What is the Borrowed Luxury trend?
Borrowed Luxury: In 2009, we discovered 'Rental Culture,' in which consumers were renting everything from art to apparel in an effort to save money during the recession. Now, consumers have more discretionary income at their fingertips and are thus going bigger with their rentals. Renting a couture gown or luxury vehicle is less costly than actually purchasing it, which helps to alleviate feelings of buyer's remorse or guilt, and they also allow the less wealthy the chance to reward themselves with some much-deserved indulgence, if only for a day or two.
Trend themes
Themes within the Borrowed Luxury trend
Three behaviours holding the trend together01
Luxury Rentals
The trend indicates that consumers are looking for access to high-end goods and services that they cannot afford to purchase outright bringing disruptive innovation opportunities to rental companies that offer high-end items.
02
Specialized Rental Services
The trend indicates that consumers are looking for more specialized rental programs that give them access to high-end items like luxury cars and condos. Disruptive innovation opportunities may lie in developing rental services that serve specific needs.
03
Frugal Fashion Rentals
The trend indicates that consumers want to rent fashion-forward clothing and accessories instead of buying them. Disruptive innovation opportunities may exist for rental companies to offer high-quality clothing and accessories at an affordable price point
Industry implications
What the Borrowed Luxury trend means for industry
Where the trend changes the playbookFor
Luxury Goods Rentals
Luxury rentals are providing access to high-end goods and services, and the rental industry can benefit from offering these items to consumers.
For
Travel and Tourism Industry
Opportunities exists for hotels and resorts to introduce luxury rental programs. By offering this service that includes access to premium amenities and locations, resorts will attract more revenue-generating customers.
For
Fashion Industry
Opportunities to tap the trend of frugal fashion rentals by offering subscription-based fashion rental services lie for the fashion industry. This will improve their sales revenue while offering consumers low-priced high-quality items.
Trend signals
Trend signals for Borrowed Luxury
Trend score 2.5 out of 10, from popularity 33%, activity 33%, freshness 8%.
Popularity33%
Activity33%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Borrowed Luxury trend
7 featured examples from Mar 29, 2011 to Mar 22, 2012CategoryAutos
Futuristic Workday Roadsters
The Pod Single-Seat Urban Vehicle is Designed for the Nine to Five
Car-sharing platforms can leverage the Pod single-seat urban vehicle to cater to the needs of urban commuters and offer them a cost-effective transportation solution.
CategoryWorld
Luxury Vacation Rentals
Travel En Vogue Helps Vacationers Rent Luxury Condo Suites
Disruptive Innovation Opportunity: Develop a hospitality service that specializes in managing and renting out luxury vacation rentals on behalf of owners, providing a seamless exp…
CategoryPop Culture
Rentable Reality Residences
The 'Jersey Shore' House is a Dramatic Dwelling up for Occupancy
Opportunity for hotels and vacation rental platforms to partner with reality TV shows or celebrities to offer unique and memorable rental experiences to customers.
CategoryLuxury
Frugal Fashion Rentals
'Lavish Labels (Borrowed)!' Lends Luxury Clothing for Style on a Budget
Fashion retailers can explore the opportunity of offering rental services for designer clothing to tap into the growing market of budget-conscious consumers who still want to expe…
CategoryBusiness
Loaned Designer Duds
Rent Frock Repeat Lets You Wear High Fashion for a Fraction of the Price
Disruptive innovation opportunity in the fashion rental industry by providing a platform for consumers to rent designer clothes and accessories for special events.
CategoryAutos
Luxury Car Swap Services
Drivenow Lets You Own a BMW for a Few Hours a Day
The automotive industry can leverage luxury car sharing services to tap into a new customer base and generate additional revenue streams.
CategoryAutos
Luxury Vehicle Rental Sites
Qraft Connects Luxury Toy Owners with Prospective Renters
The technology industry can leverage their expertise in developing secure peer-to-peer sharing platforms to build similar models to Qraft, encouraging luxury vehicle sharing and c…
