LSwop Allows Users to Rent Sneakers from Luxury Labels
Grace Mahas — May 30, 2019 — Fashion
References: lswop & coolbusinessideas
With the sharing economy picking up speed and the cycles of fashion changing weekly, one niche business, LSwop, has dived into the men's sneaker rental service sector. Brands include Givenchy, adidas, Balmain, Rick Owens and more.
The concept is simple, the user picks their sneakers, and chooses a delivery date. Users have the option to rent up to three sneakers a month and to keep the shoes for four days at a time. Each sneaker comes with a free pair of socks and a 3M sole protector in a custom wood shoe box. Shipping and returns are free and the payment method is through a monthly subscription model. To increase customer loyalty, LSwop plans to give consumers perks like surprise pop-up events and sample sales.
The way in which consumers receive products has changed drastically over the past decade, with more rental and subscription-based services emerging. With technology becoming more prevalent globally, we will continue to see a shift in the purchasing trends of consumers.
The concept is simple, the user picks their sneakers, and chooses a delivery date. Users have the option to rent up to three sneakers a month and to keep the shoes for four days at a time. Each sneaker comes with a free pair of socks and a 3M sole protector in a custom wood shoe box. Shipping and returns are free and the payment method is through a monthly subscription model. To increase customer loyalty, LSwop plans to give consumers perks like surprise pop-up events and sample sales.
The way in which consumers receive products has changed drastically over the past decade, with more rental and subscription-based services emerging. With technology becoming more prevalent globally, we will continue to see a shift in the purchasing trends of consumers.
Trend Themes
1. Sneaker Subscription Services - Subscription-based sneaker rental services like LSwop provide customers with a convenience and variety of luxury sneaker options.
2. Sharing Economy Retail - The sharing economy model for retail, like in LSwop's rental service, is an opportunity for luxury goods brands to expand their customer base and increase brand awareness.
3. Fashion Rental Services - With fashion constantly changing, rental services like LSwop allow customers to stay on trend without the commitment of purchasing expensive items that may have a short lifespan.
Industry Implications
1. Luxury Sneaker Brands - For luxury sneaker brands, partnering with rental services like LSwop can expand their reach and appeal to a wider audience who may not traditionally be able to afford their products.
2. Subscription-based Retail - Subscription-based retail services like LSwop offer a new business model for traditional retail companies to increase revenue and brand loyalty.
3. Sharing Economy Start-ups - The success of LSwop's sharing economy model for luxury goods presents an opportunity for start-ups in other industries to implement a rental or subscription-based service in their business model.
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