With high prices and desirable products, designer dress is a natural choice for collaborative consumption [renting].
With high prices and desirable products, designer dress is a natural choice for collaborative consumption [renting]. It’s why hire businesses such as Wish Want Wear, Bag Borrow or Steal and Girl Meets Dress have emerged.
Black-tie hire stores have historically led this concept, but it is the rise of ecommerce that is now helping move it forward and reach global scale. There are a few factors that are driving this move.
First, people are increasingly aware of the burdens of ownership – maintenance, storage and eventual disposal. These can outweigh the benefits. Second, the uncertain economic climate has driven a trend towards conscious consumption and a need for greater value.
With purse strings tightening, women are conscious of spend on designer dresses. Prevalence of social media, such as instant photos on Facebook, meanwhile, puts a greater spotlight on image.
A service such as Wish Want Wear, which allows women to hire current season designer dresses at a fraction of retail prices, is a low-risk option for the consumer to try before they buy.
We’ve found more than 90% of customers have rented brands they have never bought previously. The extended ‘trial’ has then gone on to positively influence the customer when they are looking to purchase.
Renting is a great customer acquisition opportunity for retailers and brands as it expands their addressable target market. Brands can retain their integrity by working in partnership with us. Buying current season collections and having personalised landing pages can best represent the brands, as well as driving traffic to their own website.
We also believe in educating women about these brands and encourage them to be adventurous with designer fashion. It’s a win-win situation for everyone.
- Suruchi Bhargava is co-founder of designer dress hire website Wish Want Wear