Top 3 Rental Software Platforms and Why Rntr is Number 1
There is absolutely no doubt that rental fashion is on the rise. As we become more aware of the outcome that the production of clothing is having on our planet, many of us are trying to buy less, buy better, and, on some occasions, choose to rent, rather than continuously buying something new only to wear a few times.There are not that many rental software platforms but we managed to track down a few.
Below are our top three fashion rental options. This review also explains why the last pick, Rntr. is the best on the list.
GlamCorner started nine years ago and have grown to become one of the few rental platforms available to Australian consumers. Since launching, it's grown from providing 30 garments, to renting out around 50 tons of clothing a month, managing all drycleaning in house. GlamCorner utilises a subscription model, with two tiers offered at $99 and $149 a month respectively. The top tier, which offers an unlimited stream of deliveries per month, now accounts for 50% of revenue.
The Volte is a second option, an Australian peer-to-peer fashion rental marketplace housing 500 dress rental services from individuals renting out their own wardrobe. Returns are covered in a prepaid post bag for renters, however, for those renting out their garments, The Volte does not cover cleaning costs and there is a service fee of 16.5%. Whether you need an elegant gown for a formal event, an outfit for an evening engagement, or a beautiful dress for a special date, your peers have what you're looking for.
The top pick for fashion rental is Rntr., tapping into this billion-dollar market with the aim to revolutionise the fashion industry. Rntr. are unique in that they work directly with the premium designer brands themselves, offering a complete size range and allowing the brands to participate directly in the circular economy. Unlike other models, brands do not need to sell their garments first for them to be only potentially rented or resold later. Instead, brands who work with Rntr. are able to produce less and profit more by actively participating in the circular economy with their own rental offering.
Rntr. comes out of the gates fast, signing X NIHILO, Simetrie, and A_C Official to its platform with Arnsdorf, Bird & Knoll, and Nique launching in October and a multitude of brands queued up to launch its offering in FY22. Rntr. aims to make life easier by offering a full service and technology solution that empowers brands to offer a more customised experience to increase revenue and more importantly, save the planet from the stresses and pollution caused by the over-consumption of fast fashion.
In an industry revolving around fast-moving trends, Rntr. leverages its rental business model to address the continuous demand for new products and offer a short-term commitment-shifting the idea to "usership" instead of ownership.
The fashion industry has a big carbon footprint. Renting, rather than buying, clothes could be one way to reduce it. The pandemic has left retailers with piles of stock that are quickly going out of style. And rental software platforms like Rntr. offer access to premium, expensive clothing for a fraction of the price.
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