Rental services offer more basic consumer goods for practicality
Implications - While rental services often sway toward more high-end services, a growth in more compact and sustainable living has consumers seeking out more basic rental options. Offering the temporary use of kitchen appliances and children's toys, unique rental options provide individuals with the convenience of basic goods without any long-term commitment.
Trend Themes
1. Rental Services for Basic Needs - There is a trend towards offering rental services for basic consumer goods - e.g. kitchen appliances and children's toys - to cater to consumers seeking out more compact and sustainable living.
2. Access Over Ownership - Consumers increasingly value access over ownership, leading to the development of networks and services that offer to rent outdoor equipment, cooking appliances, and toys.
3. Vending Machine Rentals - Communal sharing services, such as tool vending machines, are being developed to provide easy access to handy instruments and tools for users to borrow as required.
Industry Implications
1. Rental Industry - The rental industry is expanding, providing opportunities for entrepreneurs to innovate with new rental services for basic and practical needs.
2. Sharing Economy - The sharing economy is growing as consumers increasingly value access over ownership and look for sustainable ways to use products and services, creating opportunities to develop innovative new platforms and networks.
3. Smart Vending Machines - The development of smart vending machines is increasing, with entrepreneurs exploring various models to offer easy access to products and resources in a convenient and efficient way.
