Brands begin to offer everyday items like clothing and home textiles for rent
Trend - Consumers today are increasingly thoughtful with how they spend, leading many companies--especially those whose products are used infrequently--to offer rental options in lieu of expensive purchase items. Brands that sell products used on an everyday basis, like home decor and casual fashion, are pivoting to offer a rental model as well.
Insight - Today's consumer is accustomed to on-demand products, services and content in many facets of their lives. Considerations these individuals make in their purchase decisions include cost accessibility and flexibility--which rental models offer. These business models benefit consumers who don't have the means or willingness to make investments in products that don't hold up in quality overtime.
Insight - Today's consumer is accustomed to on-demand products, services and content in many facets of their lives. Considerations these individuals make in their purchase decisions include cost accessibility and flexibility--which rental models offer. These business models benefit consumers who don't have the means or willingness to make investments in products that don't hold up in quality overtime.
Workshop Question - How will consumers' rising expectations when it comes to value and convenience impact your brand?
Trend Themes
1. Rental Economy - More companies are offering rental options for everyday items like clothing and home decor as consumers prioritize cost accessibility and flexibility.
2. Educational Toy Subscription Services - Subscription-based toy rental services are becoming more popular as they provide a cost-effective way for parents to give their children access to educational toys.
3. Collaborative Rental Partnerships - Collaborative rental partnerships are on the rise, allowing companies to fill in gaps in their offerings and provide consumers new, convenient ways to access goods and services.
Industry Implications
1. Retail Industry - Retail brands are adapting to the rental economy by offering rental options for everyday items like clothing and home goods.
2. Toy and Education Industry - Subscription-based toy rental services are creating disruptive innovation opportunities in the toy and education industry.
3. Collaborative Partnership Industry - Collaborative rental partnerships open up new opportunities for companies to expand their offerings and collect data on consumer preferences and trends.
4 Featured, 36 Examples:
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Date Range:
Jan 18 — Apr 19
Trending:
Warm
Consumer Insight Topics:
