Why fashion rental will change the way we shop
41% of young women say they feel the need to wear something different every time they leave the house. Further, it’s estimated that we wear 20% of our clothes 80% of the time. Why not profit on the 80% you don’t wear? To meet the increased demand of one of the most harmful industries environmentally and ethically, fashion business models have no choice but to be reinvented and reimagined. Meet fashion rental. As societal norms begin to shift away from fast fashion and less emphasis on ownership, business models must change with them. What’s not going to change is the need for the modern consumer to stay on trend, wear new outfits every week. What can change is the way that is done - by renting vs. buying. rax provides a platform to borrow and lend out your wardrobe.
Meet rax, one of the only peer-to-peer clothing rental apps in Canada giving you a platform to both lend out/profit on your wardrobe and borrow items from other people at a fraction of the cost of retail value.
Lend out your wardrobe
We all love to share clothes with friends, but look at your closet and there are probably hundreds of outfits that could make you money. Want that beautiful item but don’t want to spend money on something you’ll wear a few times? Borrow it or buy it and you can make money back lending it out!
Borrow your wardrobe
With the rising cost of fashion and trends coming in and out of style every couple months, instead of spending money on fads or items like formal dresses you wear once, you can rent them instead! This saves not only money, but the environment as rewearing items is the second best way to reduce your impact (the best way is to not consume at all!).
The typical make, take, waste linear economy of fashion is being transformed by fashion rental, driving the circular economy of fashion. If the average number of times a garment is worn were doubled, greenhouse gas emissions from textiles would be 44% lower and peer-to-peer rental is 60% more efficient in relation to resource use than the production of new garments. Extending their life even by nine extra months can reduce carbon, water and waste footprints by around 4-10% each.