From designer bags to celebs, the list of "rentables" is expanding exponentially
Implications - The vast quantity of temporary ownership services reflects the growing reluctance to commit to products, services and relationships. If items, particularly more costly ones, come with an option to rent, their appeal rises dramatically. Many companies offering payments in smaller denominations ultimately gain superfluous income.
Trend Themes
1. Rental Economy - The trend of rental services that offer temporary access to products and services, allowing users to experience the benefits without the commitment of ownership.
2. Ownership Alternatives - The emerging idea that people are more interested in collecting experiences rather than owning assets, leading to a rise in services that offer access and temporary possession of luxury goods or other assets.
3. Collaborative Consumption - The movement towards sharing, trading, and renting goods and services as an alternative to traditional ownership, disrupting industries in the transportation, hospitality, and retail sectors.
Industry Implications
1. Retail - Retail businesses can adopt rental models to offer customers access to luxury goods for a fraction of the retail price, opening up new revenue streams.
2. Hospitality - The rise of collaborative consumption is impacting the hospitality industry as consumers look for affordable and flexible options like short-term rentals and home-sharing services.
3. Transportation - The rental economy is disrupting the transportation industry with services that offer alternative modes of transportation like car-sharing, bike-sharing, and scooter-sharing.
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Date Range:
Jul 06 — Nov 07
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