Peer-to-peer clothes rental is saving consumers money and slowing the fashion industry down, according to a By Rotation profile in the SubX SubscriptionX 2023 report.
By Rotation is the world’s largest shared wardrobe and the world’s first social fashion rental app. Its community of +300,000 “Rotators” rent, lend and resell designer fashion through an purely peer-to-peer rental model.
By Rotation’s aim is to transform fashion consumption by creating a community of subscribers who share, monetise and consume fashion consciously. The site currently has 62,000+ peer-to-peer designer fashion listings worth over £28m in the UK alone.
Users can borrow quality pieces at a fraction of the retail price, and monetise their wardrobes by loaning to others. Founder, UK-based, India-born and Singapore-raised Eshita Kabra, came up with the idea while planning her honeymoon. She grew the site to more than 500,000 downloads and a staff of 12 in just three years.
By Rotation’s renting periods usually have a three day minimum. There are also some rules on what can be listed (for example, no high street fashion unless it is from an exclusive collection). However, vintage pieces are allowed.
Renters are ultimately responsible for the item’s receipt and return and parties may rotate an item either in-person at a convenient public location through Tracked Royal Mail with receipts.
Some of the site’s top lenders say they have made more than £40,000 and the By Rotation community claims to have saved more than £6m in 2022 from renting rather than buying new.
This profile first appeared in the SubX Subscription 2023 report, it is one of five in the report with Hobbycraft, Freddie’s Flowers, Pret and Cocoon also looked at.
The wider report looks at how consumer engagement in pre-paid models has opened new innovation. For example, the concepts of privileged access and advance purchase are finding new forms in the metaverse with exclusive launches, releases and drops of NFTs (digital assets) and physical products.
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