Rent Out Your Clothes: The Chic Side Hustle on the Rise
In recent years, renting clothes and accessories has emerged as a lucrative side hustle, particularly among Millennials and Gen Z. One notable example is Emilie Nasseh, a 30-year-old Manhattan resident, who has successfully earned up to $2,000 each month through such ventures.
Renting Your Clothes: A Rising Trend
Nasseh utilizes Pickle, a peer-to-peer clothing rental platform introduced in 2022. This app allows users to share their wardrobes for profit without the need for a subscription. Unlike traditional rental services, Pickle connects lenders directly with renters, enabling them to profit from their personal closets.
Popular Items and Earnings
Among Nasseh’s most sought-after items is a Chanel mini wallet, which has been rented nearly every week throughout the year. She mentions her earnings can dip to around $500 during slower months. Such platforms are appealing to many, as over 230,000 items have been listed on Pickle, representing more than 2,000 different brands, including luxury names like Louis Vuitton.
- Over 230,000 items available on Pickle
- Brands range from high-end to mid-tier
- Top lenders can earn more than $3,000 monthly
Economic Pressures and Consumer Behavior
This trend responds to rising economic pressures faced by young adults. A significant portion of American adults, around 25%, engage in side jobs to boost income, although this figure has declined since 2017. Gen Z participates in side hustles more frequently than other age groups, with approximately 34% involved.
Thomaï Serdari, a marketing professor at New York University, emphasizes the shift in consumer behavior. She notes that many young adults see renting as a practical alternative to purchasing expensive items. For instance, Lauren Baldinger, a 24-year-old in New York City, makes money by lending outfits on Pickle and also sells handmade bags through her brand, Lolo. She projects earnings of $200 to $300 on an average day.
Sustainability and Fashion Choices
The increase in clothing rentals aligns with a growing awareness of sustainability. Pickle’s co-founders, Julia O’Mara and Brian McMahon, highlight how their platform addresses overconsumption by offering high-quality clothing at a fraction of the retail price. This allows users to enjoy luxury items without the associated costs.
- Renting promotes sustainable fashion practices
- Users can try high-end items for less
- Top rentals often include expensive dresses available for significantly lower rental fees
For instance, Jill Lin, a user in New York City, reports earnings exceeding $42,000 annually by utilizing both Pickle and another UK-based platform, By Rotation. She has identified demand for expensive dresses that can be rented for about $200 or less, demonstrating a shift in how consumers approach luxury clothing.
As more individuals adopt this lifestyle, the desire for renting over purchasing continues to rise. While sustainability concerns are growing, many also seek to enjoy luxury experiences. This dual motivation could define the future landscape of fashion rentals and side hustles.
