From online bookings to managing rentals, Yo!Rent has everything you need to run your rental business online and in-store. Tech-savvy world has a preference of getting everything done with a single swipe or a click.
Earlier, customers used to rent items like books, clothes and gadgets online but now they depend on these platforms for their daily requirements as well.
The Rise of Online Rental Industry: Emerging Rental Marketplace Software
The rental industry is creating a headway. There is a lot of scope to invest in the online clothing rental market.
“As per the survey by PRNewsWire, the global online clothing market is expected to surge by $990 mn at a CAGR of 10% during the forecast year 2021-2025.”
This is a HUGE revenue booster!
Even before the pandemic struck the whole world, renting was preferred in a digital mode.
Online Rental Software: Top Market Niches
Online rental software helps to grow your business at a digital level by managing the rentals and making the online bookings easier.
Following are some niche specific designs of key elements that should be present in a rental website-Homepage, Listing and Product Details page. These designs come in-built with Yo!Rent- White-Label Online Rental Software.
Top Market Niches of Online Rental Software
- Equipment Rental
There are different types of heavy equipment that are used for construction or found in the construction industry. Some of them are:-
- Excavators
- Backhoe
- Bulldozers
- Graders
- Tower Cranes
- Dump Trucks
- Loaders
Also, you can have a look at the online equipment rental business guide that constitutes everything you need to know.
* Homepage Design
- Listing Page Design
- Details Page Design
- Dress Rental
As per the survey by Ibisworld, market size measured by revenue of the formal wear and costume rental industry amounts to $698.1 million in 2021. Also, it is estimated that there is a lucrative market for this industry in the coming years.
- Homepage Design
- Listing Page Design
- Details Page Design
- Vehicle Rental
Consumers can rent every leading vehicle such as boat, truck, car, RV and it is a popular niche forecasted for greater revenue & growth for the next few years.
- Homepage Design
- Listing Page Design
- Details Page Design
Source: Yo-rent.com
Launching an Online Rental Marketplace in 2021
Online rental marketplace are becoming popular as the business generates a good amount of revenue due to the extensive customer base. If you are planning to set up an online rental business, then specialized rental marketplace software like Yo!Rent would be the right choice. With the assistance of this impeccable rental marketplace solution, you can get an ecommerce rental marketplace built up with all the robust eCommerce rental features.
Top Rental Features Offered by Yo!Rent
- Document verification (used in car rental & equipment rental)
- Price surge module
- Map view for shop and products
- Cancellation & charges only for rental products
- Agreement management and e-sign (Canvas)
- RFQ management
- Equipment rental inspection & return
- GDPR
- Size chart and other files
- Custom fields and filters
- Product comparison
- Buyer subscription
- Shipping module
- Pick up location enhancement
- Tax module
- Rental services or add-on services module
- Seller shop & product reviews
- Tiered piercing
- Rental item return after rental period is over
- Segregation of dashboard/reports & other modules for rent and sale
- Theme management module
- Search enhancement
- Late Charges
- Hard core order status
These features are a clear indication of how digitization is changing the online rental behaviour. The future of online rental business is technological advancements. That’s why choosing a customizable white -label solution like Yo!Rent is a good idea so that you can scale your business whenever and wherever you want.
Take Away
Make the best of this opportunity and invest in the rising eCommerce rental industry. Start your own online rental business with Yo!Rent.
Visit the website or try for a demo for a better understanding of this robust rental marketplace software.
Marketplace Scripts, Money Investment Ideas, Tech News