Top retailers are shifting their strategies to reach shoppers who want to rent home decor instead of buying it.
On Thursday, West Elm announced a partnership with Rent the Runway to offer a selection of pillows, blankets and covers to rent for Rent the Runway's 10 million members. This will be the first time that West Elm will offer rental products and marks Rent the Runway's entry into the home goods market. The company has disrupted the fashion industry by offering women designer dresses, tops and jeans' rentals for $159 a month.
Growing numbers of Americans are renting everything from clothes to cars, explained Ari Ginsberg, professor of entrepreneurship and management at NYU'S Stern School of Business. And more US households are also renting their homes than at any point in 50 years, according to Pew. Furniture rental start-ups like Fernish and Feather have cropped up to draw shoppers who switch homes frequently or who don't want to keep their furniture for extended periods of time.
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