High End Clothing Sharing Is The Mainstream Of The 2019 Shared Economy Of Young People.

Uber and AIRBNB have reshaped their respective industries in the UK and promoted the explosive growth of share economy.

When it comes to clothes, clothes that people wear are still beyond the reach of most of us. But with the surge of choice, 2019 may be a major change.

Over the past few years, the Y generation has been leading the growth of resale and secondhand clothing applications such as Depop, but it may be the fashion subscription mode that ultimately encourages the mainstream British retail market to embrace the clothing sharing economy.

The idea of renting clothing has gained enormous appeal in the United States. Rent The Runway has raised $210 million since 2009, making women consumers spend 159 dollars a month to rent 4 clothes at most.

In the UK, the old clothing brands like Girl Meets Dress have been in existence for a long time and are continuing to develop.

New entrants such as WearTheWalk and FrontRow are betting on this change in 2019, focusing on very specific customer groups, starting to challenge Girl Meets Dress and ensuring UK market share before Rent The Runway inevitably enters the UK market.

FrontRow focuses on leasing high-end designer products in the short term. For example, if delivered in central London, the rental price of double Chanel glove gloves will be 150 pounds for 5 days.

This process is clearly aimed at attracting the Instagram generation and hoping to seize the latest trend.

On the other hand, WearTheWalk is more consistent with the Rent The Runway mode. Its monthly subscription service allows members to visit some new designers' works in one month, 5 pieces per month and 120 pounds per month.

This method of focusing on product quantity is clearly aimed at capturing the active young professional market.

The two companies and their respective focuses are focused on a new type of consumer, the millennial generation of sustainable development, who are attracted by the value of other shared services relative to ownership, and believe that the evolution of consumer behavior will eventually make their products mainstream.

"In the millennial generation, we see the importance of" right of use over ownership ", which is why the market conditions for leasing mode are so mature.

Secondly, the most important thing is the sustainable fashion trend, which has gained great momentum in the past year and is now one of the main buying motives of the Y generation and the Millennials. "

WearTheWalk chief executive and founder Zoe Patridge Zoe Partridge said.

"Shared economy promotes the growth of niche brands through the channels it provides for consumers. We believe that sharing the economy has made the highly elite industries popular, and that ordinary girls and the next generation of luxury consumers can consume fashion products that once were known only on T platforms or photos, and only rich.

Luxury that you can enjoy. "

She also stressed that although the economy is facing uncertainty, their customer survey tells them that 73% of the millennials are willing to pay more for fashion products that are sustainable.

One obstacle that all garment rental companies need to overcome is that clothing is shared, so the industry's clean concept is obviously more important than the taxi industry.

In view of this, the company is making a promotional film to demonstrate the concept behind its clothing leasing business, especially on how to wash clothes with the highest standards.

A recent example is YCloset's video activities in collaboration with China's most influential celebrities.

At the end of the video, someone gave her a glass of water and the cup was sterilized by a steam engine, which clearly implied the cleanliness of the whole process.

The increase in Y generation consumption capacity and the millennial generation in the retail market and the desire to experience ownership means that the star may have been consistent with the mainstream market of garment rental market in 2019, although this may require a larger retail name to enter the surrounding space, which really helps to shape the conscience of consumers and overcome the challenges faced by the psychological emerging industries.

The Y generation and the millennial generation's increasing spending power in the retail market and the desire for ownership experience mean that the clothing rental market will subvert the mainstream clothing market in the UK in the 2019. But this trend will help to shape the consumer concept and overcome the psychological challenges still faced by the emerging industries, and it is necessary for the retailers with greater influence to really play a role.