• Target markets
As anything from designer bags, clothes, accessories and jewelry can be rented, “the luxury rental concept can be applied to virtually every business segment” (Evers 2006, p8). Thus, making it possible to consider the designer fashion rental market as a niche market, since target markets can be segmented according to designer fashion categories, consumer lifestyle expectations and statistics (demographic, psychographic and behavioral patterns); providing more customized service (value) and reaching out to a target audience.
• Growing market
The designer fashion rental is a growing market, offering more options to consumers. With the increasing amount of consumers who are looking for more economical ways of ‘expanding’ their wardrobe, especially if they want to experience the status and exclusiveness that is often associated with designer fashion items despite their limited spending power (Han 2008), or if they are affected by any economic downturn (Barlyn 2008). Investors are also finding companies such as BAG BORROW OR STEAL attractive (Evers 2006); all of which contribute to the industry’s growth... more>>