Insider Trading: Secrets of fashion's top lenders
A beginner's guide to impress the best dressed
What makes a top lender stand out from others on a rental platform? Today we uncover tips for elevating your profile to top lender status.
Peer-to-peer lending is all about trust, and having glowing reviews goes a long way toward building confidence in you as a lender.
Consider the following to delight your renters and secure the best reviews.
Lend items that are 2 years old or less—newness still has currency, it’s ownership that’s out of fashion
Deliver early—delight renters with unexpected time to get extra wears out of their rental. Many top lenders rely on the Royal Mail Special Delivery service. It’s cost-effective, reliable, and has appropriate tracking and insurance. Next-day delivery by 1pm is guaranteed or your money back. It’s free to book a collection from your door and they’ll even print the label for you. Easy.
Include a handwritten note—a personal touch is always lovely
Gifts with delivery—some of the best lenders include sweets or perfume samples for a lil treat
Package with care—receiving your item is part of the experience. Make sure the experience feels as good as unboxing a purchase from a luxury retailer
Instant communication—quick replies are the common sense way to build a rapport with anyone considering renting from you, and will help secure the booking. Peer-to-peer lending is about community so get to know who your renters are. They stick with lenders who are easy to rent from and reflect their style and size.
What’s the occasion?—ask why they’re renting and help with styling tips
Stay on top of your admin—ensure your items are clean and ready to go 48 hrs before they need to be sent
Meet up—safety first, always. But some lenders meet in person to hand deliver their item if the renter is local or there’s a last-minute rental emergency
Make it stupidly easy for renters—Include a return label in the package
Some things to think about before renting your wardrobeÂ
Don’t rent an item if it’s delicate, important or sentimentalÂ
Take before and after pics so you have proof of condition in case of damage
That covers the basics and your next-level tips are in the post.
Do you have any other advice you’d like to share?
Rental Radar—your roundup of the latest industry news
The Myth of Ethical Luxury*: Another insightful piece from BoF. Beneath luxury’s glamorous surface lies a network of supply chains tangled with the same labour abuses as fast fashion. Brands can, and should, do better. Read more thoughts from the writer here. *Behind the paywall but you can read for £1 via their trial offer.
Selfridges has been awarded Highly Commended at the UK Green Business Awards1 for their net-zero commitments and RESELFRIDGES circular shopping initiatives including rental, pre-owned, refill and repair.
Vogue writer, Emily Chan, wore HURR Flex rentals all week for her work trip to Copenhagen for the Global Fashion Summit. Read the Vogue Verdict here.
Image by Emily Chan for Vogue
Trending Now—the brands and pieces that are popping
Brights are trending in the rental world this summer. We first noticed this Christopher John Rogers dress on Candice Brathwaite a few years ago and honestly, everything Candice styles is set to STUN, but we quickly realised it was well out of our price range. We spotted it again this week on Emily Chan. You can rent it from HURR from £177 for 4 days. Or rent the exact dress from Candice herself on ByRotation.
Fash Stats—the big numbers of the week
The global online clothing rental market is predicted to grow by US$3 billion from 2022 to 2026, according to the Global Online Clothing Rental Market 2022-2026 report.2
That’s it for now. Until next time, subscribe and stop shopping!