What does the pandemic mean for the future of rental?
It is no exaggeration to brand 2020 the year of the rental. While investing in fashion amid the pandemic might not be viable or even sensible for many, hiring ready-to-wear and accessories for events, birthdays or even day-to-day is not only economical but also more sustainable.
As we all know, coronavirus put a lot on hold over the past nine months, including the rental fashion boom that had already begun at the start of the year. But, as the experts say, it might have momentarily halted its rise, but not for long. If anything, this period of self-reflection has prompted a change of tact in how we shop, amping up consumer desire to rent fashion pieces rather than to buy.
We spoke to the founders of our favourite rental sites, including Rotaro, By Rotation and Cocoon Club, to discover how the virus impacted business and to find out their predictions on what the future of rental looks like in a post-pandemic world.
How do you think the pandemic impacted the rental fashion boom that was taking place?
“Of course, in the beginning, it shut down the rental market completely. But, in a way, I think coronavirus has almost accelerated the changes in people’s consumption which maybe would have taken longer if there wasn’t a pandemic.
"In terms of Rotaro, our rentals have actually succeeded what they were before the pandemic which is crazy and unexpected. The market has picked up massively and I think it’s because people have had a chance to reconsider how they engage with fashion. They've realised that they can live with less and that they don’t need to constantly buy things every week. When they do need something they can think about it in a more considered way, whether that’s rental, vintage or if it’s an investment piece that they'll wear over and over again."
What did you experience specifically with Rotaro?
“We closed our business pretty soon into lockdown as we didn’t want to push the message of renting - it just didn’t feel morally right. We thought about what could we do to be proactive and use our service to do something good. So, we launched a fresh fruit and vegetable delivery service for the first two months of lockdown - we wanted to be a helpful friend as best we could."
What do you see the future of rental looking like in a post-pandemic world?
“We only launched in November last year, so we only had four months of trade before the pandemic started, but since then we have seen people renting in a very different way. People are renting for longer periods, holidays and back-to-back. People are starting to incorporate rental into their wardrobes as a form of newness and not necessarily when they have a one-off event. Our customers are starting to make the most of smaller situations to dress up too.
"I can imagine some people are concerned with rental and hygiene following the pandemic, but we’re using ozone technology that’s medical-grade, which is more hygienic than buying from a physical store.
"Maybe I’m an idealist, but I think that this pandemic has changed mindsets permanently and I would be surprised if people did return to blind consumerism. As people's lifestyles are going to be different, their consumptions are going to continue to be different too."
How do you think the pandemic impacted the rental fashion boom that was taking place?
“On the surface, people obviously weren’t going out so they weren’t renting as much. But if you look deeper, our community and wider were signing up before the pandemic as they began to wake up to the reality of fast fashion and saw the impact of brands like Boohoo.
“The pandemic made people think more about not consuming as much and that’s what our mission is - to change views on how fashion is consumed and that’s done by enabling people to share what they already own. Shoppers are finally realising that they already have so many clothes and many from fast fashion companies which might still have tags on or have only worn them once or twice. Covid-19 has made many of us reflect on what we have and how little we actually need.”
What did you experience specifically with By Rotation?
“We are only 11-months-old when the outbreak took hold, so while it seemed like transactions were paused, we actually grew our user base by 100 per cent during this time so it’s been a fantastic period for growth for us.
“I felt very moved over this period; my husband’s mother is a doctor and we were hearing about how things were on the frontline and I felt that I couldn’t encourage renting items, so for me it was about ensuring people felt like we were with them. Everyone was spending a lot of time consuming social media, so we started our glass-of-wine series and we’ve continued with it post-lockdown as it’s been so well-received. We hope to do something in person, but who knows.”
What do you see the future of rental looking like in a post-pandemic world?
“Looking at our rental numbers, it’s completely rebounded, so it’s very reassuring that people didn’t think it’s the end of renting. It’s great seeing our community renting for everyday occasions - we saw many users renting on Mondays, Tuesdays and Wednesdays because of the ‘Eat Out to Help Out’ scheme.
“August is the strongest month we have ever seen, we had rental volumes of over three times what we had in February, which was our previous strongest month - it’s great to see how much people still want to be part of the rental revolution.
“I think a lot of people don’t really want to go shopping indoors anymore, so for them it’s no longer strange to rent from a person rather than buying from another company and actually ending up spending more. Some people have been furloughed or lost their jobs, so they've become more conscious about where they spend money, but they also still want to look and feel good about themselves. For me, it’s about making rental mainstream and for people from all walks of life to feel like fashion is accessible to everyone across the country. It feels good to know that we are working towards that goal.”
TO START RENTING, DOWNLOAD THE BY ROTATION APP HERE
How do you think the pandemic impacted the rental fashion boom that was taking place?
“It goes without saying that the lockdown initially affected bag needs, but with the easing of lockdown in June, desire for handbag newness spiked very quickly. The growth we’ve seen shows us how much the desire for rental is increasing. We’re struggling to keep up with demand. People might be going out less, but they are really making it count when they do; whether that is date night or brunch with your best friend.
“Consumers have had time to reflect and rethink their wardrobe needs and are making more conscious, considered purchases. More so than ever, the desire for handbags in the rental space is a no-brainer. Consumers are increasingly savvy about how they spend their money, as while consumers might not want to be making large financial purchases right now, tapping into that newness through bags is extremely appealing.”
What did you experience specifically with Cocoon?
“We remained operational throughout the lockdown, as customers were still signing up and also swapping, albeit in a more limited number than before. We had all staff work from home who could, implementing stringent safety measures within our warehouse, and introducing increased bag care measures, which we were early to do.
“The safety and care of our team and our community were what mattered to us, ensuring we would come out the other side of the initial lockdown stronger than we went in. That’s not to say it was easy, and personally, as someone who homeschools a six year old while running a business without additional childcare support, there were moments of having to dig deep to push through and be optimistic and a support to the people around me. A silver lining of lockdown was the space it gave us to take a step back and plan out all the ideas we’ve had bouncing around."
What do you see the future of rental looking like in a post-pandemic world?
“Ultimately, what we’re seeing is that consumers are interested in rethinking their wardrobe needs and their fashion consumption. Change happens by making smart choices.
“As we ease into autumn and head back to our routines, consumers are being more purposeful about adding everyday glamour to their lives. Our bags come to us for thorough cleaning before they go out to the next member, and we introduced additional sanitisation measures to our bag care process to safeguard our bags, without compromising the quality of materials.
“There is a growing segment of consumers who reject excess, yet crave variety and newness. We are confident that the industry focus will continue to shift towards access and experience and we're excited to see what’s next.”
How do you think the pandemic impacted the rental fashion boom that was taking place?
"For most, lockdown has been a time to pause and reflect. Why did we purchase all the 'things' in our houses? Do we need as many clothes? What about the pieces we’ve bought and never used? Yet, fashion should be fun and experimenting with clothing and different styles is definitely part of that. The post-Covid consumer will be looking for a smarter and more sustainable way to shop and renting is the perfect alternative.
"In many ways, coronavirus has sparked a sustainable fashion awakening. Lockdown has taught us how to live simply and consumers will be more conscious than ever of their fashion footprint.
What did you experience specifically with Hurr?
"We've seen a surge in rentals for staycation outfits, with a focus on more casual day-to-day outfits. Initially, the demand side of our platform was impacted quite significantly, for the simple reason of people not having events to go to. We've focused our time on building market-leading supply and incentivising users to list their wardrobe during this time.
What do you see the future of rental looking like in a post-pandemic world?
"With the launch of the Hurr x Selfridges Online Rental Collection, we're giving customers access to high fashion at fast fashion. Our mission remains the same, to slow down fast fashion and remove the need to buy wear-it-once items, so we hope the future looks like that."
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