The State of Fashion report 2023 outlines the new concept of ‘Two-track spending'. Due to the current economic situation, we should expect consumers fashion related purchasing patterns to change. Some will postpone discretionary purchases whilst others will keep an eye out for a bargain. These factors combined will increase the demand of resale and rental items. Businesses need to protect customer loyalty currently and avoid diluting their brand.
Right now, less than 1% of material used to produce clothing is turned into new items. This is around 100 billion pounds worth of materials wasted each year.
This is where fashion rental comes into play. It bridges the gap between fashion and waste. Fashion rental allows consumers to use items for a fixed amount of time, returning the item once they know longer need it. Historically consumers used early fashion rental companies to rent luxury market items for special occasions, such as bridal dresses or designer goods.
More recently, brands such as Hurr and By Rotation have taken the fashion rental industry by storm. The aim of these organisations is made clear by Hurr's missions statement:
"Empowering women to extend the lifespan of their wardrobes, We're sending fashion round-One rental at a time".
On average, each rental item has an estimated reduced water usage of 24% compared to traditional clothing as well as a 6% reduction in energy usage and a 3% reduction in CO2 emissions. These figures make the environmental benefits of renting clothes very clear. Overconsumption of unwanted clothing has become a worrying global problem. In many cases, clothing is unnecessarily thrown away. Filling landfill with clothing and textiles costs the UK alone an estimated £82 million each year.
On the flip side, the consumption of clothing is hugely important economically. Research from The British Fashion Council found that fashion contributes £28 billion directly to the UK economy each year. These fashion rental companies are changing behaviours of consumers everywhere, driven by the belief that everyone should have access to high quality fashion without contribution to a number of global environmental problems.
So is fashion worth renting? As Carrie Bradshaw famously once said "I like my money where I can see it-hanging in my wardrobe". For some, rental might not be the easiest way for them to purchase an item for a one-time occasion. This could simply be due to consumer behaviour and changing this may be difficult. Additionally, consumers may be hesitant to change shopping behaviours, The success of rental fashion ultimately lies with the consumer. The Guardian reported "A frequently raised issue for the rental fashion industry is that it negates the “buy less, buy better” mantra adopted by sustainable fashion advocates, which encourages consumers to make long-term investments in their clothes." I would promote a capsule wardrobe made up of quality pieces which can be regularly reinvented with rental.
Another huge positive to fashion rental it that it provides consumers with the opportunity to move away from fast fashion. Renting clothes that already exist that will fill the gaps in your capsule wardrobe that you may be missing. From a trend led handbag to a dress for a spontaneous night out with the girls, rental gives consumers an alternative option to buying another cheaply produced fast fashion piece on next day delivery.
With consumers opening up to rental they are keeping clothes out of landfill, extending their life and discovering unique pieces along the way. Renting clothes also tackles old consumer habits that have already done enormous damage to the environment. For these reasons, it's in society's best interest that rental becomes the future of fashion.
What are your views on Rental?
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