Business

The rental revolution

To buy or to hire? The Insta generation does it differently. Photo: Maddie Ang.

Just 10 years ago wearing a new, gorgeous designer dress to every occasion would be a lifestyle one could only imagine the rich and famous living. Now days it’s not unusual to see minimum wage earning students walking around in designer label clothing, and it’s all thanks to a booming clothes hire industry. 

Not all that long ago clothes hiring was a rather small industry that consumers turned to when they had a rare fancy occasion they needed a suit or ball gown to hire. Now clothes hiring is a billion-dollar business. 

You can rent practically any sort of clothing from casual day wear to wedding gowns. With the convenience of social media allowing more and more people to advertise their own clothing for rent, clothes hiring has never been more accessible and consumers have never had so much choice. 

While consumers are enjoying the increasing affordability and accessibility to designer clothing, retail are struggling to keep up with the changing market. 

Maddie Ang meets some of the players.