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as millennials embrace renting over owning — even clothes — stores are taking notice
by：Yovog
2023-04-29
The Millennial enthusiasm for renting a house rather than buying a house is far beyond the scope of housing and driving --
Even some traditional big retailers are starting to notice this.
Online rental subscription services for clothing and accessories are on the rise, which means consumers can now wear their clothes by starting to use virtual revolving wardrobesups.
Gwynnie Bee, for example, leases day-to-day clothing for plus
Size of ladies and ladies
Collection sends surprise items to users according to their personal style.
Usually these start
Ups charges a monthly fee, allowing users to wear clothes for a month, and sometimes for an unlimited amount of time.
Customers can return without paying shipping or freight-cleaning costs.
This is a model pioneered by renting a runway, which started in 2009 and is an online service where users can rent high rents
Finally, usually for a special event, the designer\'s merchandise is only a fraction of the retail price.
Since then, the Manhattan Company has added two cheaper grades to its services --
Unlimited designer wardrobe for $159 a month and a low
Cost options of $89 per month.
By using a subscription rental service, consumers can get thousands of products at a fixed monthly price, more than they can usually afford.
Jennifer Hyman, chief executive of the company, said it offers consumers more value and more choices at lower prices.
Brett Northart, president of Le Tote, said apparel leasing has started because consumers want the wardrobe to be resilient.
In addition, he says the recession has made people less obsessed with having things.
Retailers Ann Taylor and DSW Inc.
Got similar customer feedback
Julie Rosen, senior vice president and general manager of Ann Taylor, said that Ann Taylor surveyed customers to find out where, when and how they were shopping, and found that people were interested in renting daily clothing.
In response, the company launched an unlimited style service in October that allows women to lease three items at any time for $95 a month.
\"We have to innovate in order to compete,\" she said . \".
\"We need to meet our clients where she is shopping and she is shopping in new and different ways.
Amy Stevenson, DSW\'s chief marketing officer, said in an email statement: \"DSW\'s customer research earlier this year prompted the shoe retailer to start testing rental services with a group of colleagues
The new shopping model particularly resonates with millennials.
According to ups\'s online shopper study, a tenth of online shoppers rented a product online last year, and millennials between the ages of 18 and 36 are three times more likely to rent products online than they are. millennials.
Anyone who comes up with new ideas for retail stores is doing what they should.
Ronald Friedman, a leader in the retail business of accounting and consulting firm Marcum, said he was not surprised that traditional merchants were trying to improve their customers\' shopping experience through leasing, in the face of increasing pressure in the retail market, the key to remain competitive.
According to the securities documents submitted by its parent company, Ann Taylor\'s sales in fiscal 2017 fell by 7%, at least in stores open for one year, a key retail measure, the ascena Retail Group was closed in 18 stores. Ascena —
His other chains include Lane Bryant, dressing up and justice.
The company said in June it plans to close up to 667 stores in two years.
The company blamed its problems on the competitive market and the accelerated flow of shoppers to e-commerce.
Commercial sites, which led to reduced prices for retailers to increase store traffic.
But, Friedman says, with the exception of the growing success of many online retailers, there are now too many physical stores.
Retailers provide 24 square feet of sales space for each US retailer. S.
By contrast, Europe and Japan have about 6 square feet per person.
He said it is estimated that by the end of this year, thousands of stores across the country will be closed, so retailers need to compete by creating a more dynamic shopping experience.
\"Anyone who comes up with new ideas for retail stores is doing what they should do,\" he said . \".
By contrast, rental runways have opened several actual outposts in woodlands and San Francisco.
But these stores are far from traditional stores, says Heyman, and more as showrooms, an extension of the user\'s wardrobe.
She said that some women come to rent runway shops to wear clothes to work almost every day, and users wear 12 to 15 rental clothes per month, which is completely different from traditional purchases.
\"People don\'t go to physical stores because of the growth and prevalence of their shopping in companies like Amazon and [efficiency]that]
\"Shopping experience,\" Heyman said. Nicole Smith-
Goldberg, who has been renting runway users since 2011, said she tried the service for the first time in the summer and she has seven blacks
Attending the wedding is mainly in the same group of friends.
As a personal trainer and dancer, Smith
Goldberg said she spent a lot of time on yoga pants, so she wanted to wear fashionable and interesting clothes at events and parties.
She said it is not allowed to rent instead of buyingbrainer.
\"With social media, you have a lot of photos,\" 38-year-
Old New York residents said.
\"People will notice this if you are wearing the same outfit all the time.
\"In addition to clothing and accessories, there is the potential for rental.
All-round San Franciscobased start-
Just like the cloud storage of your stuff.
It provides a platform for users to rent out a variety of items they have hidden with Omni, such as suitcases, sporting equipment and other useful items that will normally be placed in a garage.
Tom McLeod, founder of Omni, said the rental service opens up the value of the items that people have, allowing consumers to get what they didn\'t have before.
A recent testimonial thanks Omni, which is currently operating only in the Bay Area, for providing an air purifier in a fire in October that shrouded the area in smoke.
\"Go to the wedding, go out for a date, surf on Kauai --
You don\'t need to have everything in the transition period, \"said mcloughd.
Even some traditional big retailers are starting to notice this.
Online rental subscription services for clothing and accessories are on the rise, which means consumers can now wear their clothes by starting to use virtual revolving wardrobesups.
Gwynnie Bee, for example, leases day-to-day clothing for plus
Size of ladies and ladies
Collection sends surprise items to users according to their personal style.
Usually these start
Ups charges a monthly fee, allowing users to wear clothes for a month, and sometimes for an unlimited amount of time.
Customers can return without paying shipping or freight-cleaning costs.
This is a model pioneered by renting a runway, which started in 2009 and is an online service where users can rent high rents
Finally, usually for a special event, the designer\'s merchandise is only a fraction of the retail price.
Since then, the Manhattan Company has added two cheaper grades to its services --
Unlimited designer wardrobe for $159 a month and a low
Cost options of $89 per month.
By using a subscription rental service, consumers can get thousands of products at a fixed monthly price, more than they can usually afford.
Jennifer Hyman, chief executive of the company, said it offers consumers more value and more choices at lower prices.
Brett Northart, president of Le Tote, said apparel leasing has started because consumers want the wardrobe to be resilient.
In addition, he says the recession has made people less obsessed with having things.
Retailers Ann Taylor and DSW Inc.
Got similar customer feedback
Julie Rosen, senior vice president and general manager of Ann Taylor, said that Ann Taylor surveyed customers to find out where, when and how they were shopping, and found that people were interested in renting daily clothing.
In response, the company launched an unlimited style service in October that allows women to lease three items at any time for $95 a month.
\"We have to innovate in order to compete,\" she said . \".
\"We need to meet our clients where she is shopping and she is shopping in new and different ways.
Amy Stevenson, DSW\'s chief marketing officer, said in an email statement: \"DSW\'s customer research earlier this year prompted the shoe retailer to start testing rental services with a group of colleagues
The new shopping model particularly resonates with millennials.
According to ups\'s online shopper study, a tenth of online shoppers rented a product online last year, and millennials between the ages of 18 and 36 are three times more likely to rent products online than they are. millennials.
Anyone who comes up with new ideas for retail stores is doing what they should.
Ronald Friedman, a leader in the retail business of accounting and consulting firm Marcum, said he was not surprised that traditional merchants were trying to improve their customers\' shopping experience through leasing, in the face of increasing pressure in the retail market, the key to remain competitive.
According to the securities documents submitted by its parent company, Ann Taylor\'s sales in fiscal 2017 fell by 7%, at least in stores open for one year, a key retail measure, the ascena Retail Group was closed in 18 stores. Ascena —
His other chains include Lane Bryant, dressing up and justice.
The company said in June it plans to close up to 667 stores in two years.
The company blamed its problems on the competitive market and the accelerated flow of shoppers to e-commerce.
Commercial sites, which led to reduced prices for retailers to increase store traffic.
But, Friedman says, with the exception of the growing success of many online retailers, there are now too many physical stores.
Retailers provide 24 square feet of sales space for each US retailer. S.
By contrast, Europe and Japan have about 6 square feet per person.
He said it is estimated that by the end of this year, thousands of stores across the country will be closed, so retailers need to compete by creating a more dynamic shopping experience.
\"Anyone who comes up with new ideas for retail stores is doing what they should do,\" he said . \".
By contrast, rental runways have opened several actual outposts in woodlands and San Francisco.
But these stores are far from traditional stores, says Heyman, and more as showrooms, an extension of the user\'s wardrobe.
She said that some women come to rent runway shops to wear clothes to work almost every day, and users wear 12 to 15 rental clothes per month, which is completely different from traditional purchases.
\"People don\'t go to physical stores because of the growth and prevalence of their shopping in companies like Amazon and [efficiency]that]
\"Shopping experience,\" Heyman said. Nicole Smith-
Goldberg, who has been renting runway users since 2011, said she tried the service for the first time in the summer and she has seven blacks
Attending the wedding is mainly in the same group of friends.
As a personal trainer and dancer, Smith
Goldberg said she spent a lot of time on yoga pants, so she wanted to wear fashionable and interesting clothes at events and parties.
She said it is not allowed to rent instead of buyingbrainer.
\"With social media, you have a lot of photos,\" 38-year-
Old New York residents said.
\"People will notice this if you are wearing the same outfit all the time.
\"In addition to clothing and accessories, there is the potential for rental.
All-round San Franciscobased start-
Just like the cloud storage of your stuff.
It provides a platform for users to rent out a variety of items they have hidden with Omni, such as suitcases, sporting equipment and other useful items that will normally be placed in a garage.
Tom McLeod, founder of Omni, said the rental service opens up the value of the items that people have, allowing consumers to get what they didn\'t have before.
A recent testimonial thanks Omni, which is currently operating only in the Bay Area, for providing an air purifier in a fire in October that shrouded the area in smoke.
\"Go to the wedding, go out for a date, surf on Kauai --
You don\'t need to have everything in the transition period, \"said mcloughd.
