.RenttheRunway is now offering all of its garments for resale
. We don’t tend to think of RTR as a “resale site” or as a “secondhand fashion” purveyor, perhaps because the clothes are borrowed, not kept for years and years. But most of its garments have likely had second, third, or fourth “lives” .
Subscribers have always had the option to keep items they’ve rented once they’re in their possession, usually for a fraction of the retail price. But Hyman was surprised to see that behavior double in 2020: Women who’d formerly rented a few outfits a week were now choosing select items they intended to keep forever.is available for resale, whether you’re an RTR subscriber or not.
A recent survey found that 74% of Rent the Runway customers said they will likely buy secondhand in the next 12 months; when asked specifically about buying secondhand from Rent the Runway, that number jumped to 90%. What will really set Rent the Runway’s resale business apart from consignment sites and vintage stores is that its products are sourced directly from brands, not customers.
The service will introduce a new level of competition on price for e-tailers and boutiques. If you’re eyeing a new-season dress and don’t mind if it’s been worn a couple times, you might buy it from RTR for a lower price, rather than buy it at the designer’s store. “Because we monetize the product through subscription, by the time we’re selling something, we may have already rented it a few times and made money on it,” Hyman explains.
Still, the vast diversity of new and past-season options is the bigger takeaway. Customers will be excited to see
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