In Europe, You Can Rent Jeans
Driven by economics of unemployment, many Europeans are renting jeans they wear (also appliances) instead of paying the outrageous sums of money. Clothing retailers there are trying to lure customers to their high-end jeans through renting them. Most of the clients are the young that have the highest level of unemployment yet still want to dress like they have money. In most places there, the economic recovery is shallow leaving millions on a budget.
In a poll, nearly 58% of those polled usually bought second hand clothing and 53% indicated that they barter frequently for services needed. Even sharing cars is expected to climb from 700,000 today to 15 million by 2020. Manufacturers also offer leases on appliances costing over $350. Electronics are also shared or leased. The poll also showed that 40% prefer to rent than own consumer items and 10% would rent clothing and shoes.
For example, Mud jeans allows a consumer to make a deposit of $25 on a pair of $140 jeans. Then, they pay only $5 a month. After a year, the person can decide to buy them (pay balance), return them or exchange them for a new pair. Jeans that are worn excessively or damaged are recycled into new jeans.
I don't know about this concept. What happens if the person does not return them? I guess his credit card info would be then used. What happens if the clothes are stained? Record keeping would be a nightmare with so many consumers. However, for items costing hundreds of dollars, it is another way to lure the consumer to buy on a budget an unemployed person can afford!