Luxury bag-rental service
How Luxury Rental Company can
Succeed in a changing market
Xinyu Chen 14816835
Nannan Xu 14913859
Market Overview 4
Fundamental changes in Consumers and Channels 6
Rental fashion: From our research 8
Wining strategies for luxury rental player 10
The 2008 global economic crisis has certainly changed the economic landscape, and also fundamentally altered the behavior of numerous luxury fans, which are now learning to curtailing luxury expenditures and saving more. However, many consumers do not want to switch to cheaper brands, under all logical responses to a recession, a new business appeared which is rent luxury products.
Luxury bags renting business becomes more and more popular in the worldwide, since there are lots and lots people who love luxury products, but do not have enough money to purchase one; or, people who do have the money for a bag, but also planning other activities with the money.
This service is popular within these people since it allows them to "own" a luxury bag, and even different bags every week. And also, it helps people who want to save their money on other activities. Renting luxury bags also help the consumer to prevent irrational consumption. Now, renting a luxury bag seems become a new lifestyle for general public.
Who are typical rent luxury consumers at "that bag I want"? Women from the age of 25-30(Arthur, 2001), the company luxury-consumer base includes two large segments: the housewife from middle-class family(Arthur, 2001), who responsible for a portion of rent luxury bag spending on many brands, and the generally customers are office ladies, who responsible for a significant portion of the company. However, it is a obvious trend who still have a lot of...