Consumers turn to rental options as an affordable tech option
Implications - Recognizing the need for cost-conscious alternatives, brands, like those in the tech industry, are turning to rental services to offer consumers high-end products at a fraction of the cost. Allowing consumers to experience and test products for a fixed period of time, brands are using rental techniques to connect with consumers in a more cost-effective way.
Trend Themes
1. Rental Services - Brands are using rental techniques to offer consumers high-end products at a fraction of the cost.
2. Sharing Economy - Tools and tech equipment sharing platforms are becoming more popular.
3. Wearable Tech Rentals - Lumoid has expanded to include wearable devices you can test at home.
Industry Implications
1. Technology Rentals - Peer-to-peer rental platforms for technology equipment are becoming increasingly popular.
2. Communal Sharing Services - Communal sharing platforms for tools and tech equipment are transforming the way people access them.
3. Higher Education - Universities are innovating with vending machines that allow students to rent equipment for educational purposes.
