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British retailer Marks & Spencer is jumping on the clothing rental bandwagon.

Dec 01 2021

British retailer Marks & Spencer is jumping on the clothing rental bandwagon. Partnering with rental platform Highstreet, the brand is offering 40 pieces of its current line, which retail for between £59 and £250, to rent for as little as £13 for four days. The move is part of a larger sustainability push at Marks & Spencer, which recently announced plans to become a net zero business by 2040. YPulse’s research shows that in the U.S., young consumers’ fears about climate change are impacting their purchases, leading them to lean hard into secondhand shopping, whether through thrift shops, resale platforms, or rentals. In fact, secondhand clothing is now a $40 billion a year industry and is expected to grow 15-20% in the next five years. (The Sunday Times)