We recently collaborated with a clothing rental startup that provides fashion accessories and special occasion clothes for rent. It is basically a community where you can actively participate to share your wardrobe with peer users.
Much higher than expected, the userbase for a rental community is growing and evolving!
Clothing rental platforms allow users to rent one or several items for an event, similar to renting your gown and cap for your graduation, for a few days. Some platforms allow you to rent from other people, like Airbnb for clothes, or from the rental businesses directly. On those platforms, you can usually browse clothes by categories, labels, or style, so you can find the item that fits your needs and your budget.
The costs of these services vary greatly, depending on the label, the item, and how long you want to rent it for. Some platforms even offer memberships or subscription packages!
So what is a fashion rental platform?
An online clothing rental platform isn’t just a fashion company, it’s also a tech company that reinvents the fashion industry. At the core of a clothing rental platform’s business model lies strategic partnerships with designers and agencies to give their audiences access to the latest clothing and accessories but in a more cost-effective and economic manner. It is not just a business model but a contribution to society, compelling the reuse-resell way of how we dress.
What are the key components of such a fashion rental app?
- Product listing/ Homepage - Showcase products with filtering based on customer needs.
- User account - User registration, login, the user profile for saving address, preferences, etc.
- Product upload process - as simple as clicking few pictures of the cloth, fill in the necessary details and publish.
- Checkout and payment models - Cart, checkout, shipping details and payment.
- Order management process - Show renting/ borrowing status, current orders, order workflow.
- Review system - Rate and review renting process as well as product quality.
You can develop a fashion rental app in 2 ways: Your own rental platform or peer-to-peer rental.
If you are a designer or own products that you can rent for people, you can start a rental app, else you can build a marketplace like amazon where people can rent and others can borrow, where the platform owner gets a commission.
So how to develop a fashion rental app/ rental business?
- Research your platform’s target market and what kind of exact products you want to provide for rent
- Choose a business model and monetization strategy
- Find a technical person or agency which can help you build and scale the online platform
- Decide how you market - via digital marketing or events or brands tie-up or google ads
Some top players in the clothing rental domain:
Slowly, you can build a stable business model as well as a community of people who are sustainable in their purchasing decisions. If you are starting a clothing rental business, please use recyclable, or reusable packaging for sending orders!!
Consult us to build a clothing/ fashion rental platform and thus contributing to the earth by finding sustainable solutions.