It's becoming increasingly popular to borrow clothes for a limited time instead of buying them outright. Renting lets customers experience the freedom to wear what they like, more sustainably, whether it's for a special occasion or everyday wear. According to Statista, the rental apparel market generated $6.26 billion in revenue in 2023 and is expected to grow to $7.45 billion by 2026, driven by sustainability preferences, economic appeal, and cultural shifts.
Access over ownership
The concept of "access over ownership" has gained real traction. Minimalism, promoted heavily through social media and advertising, has made owning fewer things feel aspirational rather than limiting. Consumers increasingly favor experiences over goods, and renting gives them access to a wider range of items than they'd normally be able to afford or want to own outright.
Renting for a greener future
Sustainability is a growing priority for shoppers, many of whom now weigh the environmental impact and sourcing story behind a purchase before making it. Rental fashion supports that shift by lowering demand for a constant churn of new clothing. Rental platforms extend the life of a garment by ensuring it's worn by multiple people rather than discarded, one in three women consider their clothing "old" after just two wears, a stark reminder of how much waste fast fashion generates. According to British Vogue, renting a single item can reduce water usage by up to 24%, energy by 6%, and CO2 emissions by 3% compared to buying new.
Luxury for less
Occasion-specific items (a wedding outfit, a party dress) are often bought once and never worn again. Renting is a better alternative for shoppers who want value for money along with a smaller environmental footprint. Luxury fashion is traditionally the most expensive, most exclusive tier, which is exactly where rental fashion has found an opening: platforms like Hurr, Rent the Runway, and My Wardrobe HQ let customers wear designer pieces they'd otherwise never be able to afford, broadening the customer base for luxury brands in the process.
The role of technology
Rental fashion platforms lean on technology to run at scale. Teamwork's Customer Relationship Management (CRM) service gives rental brands access to customer preferences and rental history, enabling tailored recommendations and automated notifications for pick-up and return dates. Mobile Point-of-Sale lets brands deliver a strong checkout experience whether that's in-store or at a rental pop-up event, integrating easily with new payment providers so transactions stay quick and simple. And RFID tags help confirm that returned items come back complete and undamaged, a key fraud-prevention tool for any rental business, where a faulty or duplicated return can be costly.
Why borrowing is the new buying
Borrowing is becoming a genuine alternative to buying, a cost-effective, more sustainable way for customers to access items without committing to full ownership. By combining mobile POS, RFID, and CRM, retailers can offer a seamless omnichannel rental experience: shoppers browse inventory online, reserve items, and pick them up in-store or have them delivered, all without friction.