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From Rent the Runway to Adorn, rental companies are all over Instagram feeds. But why are consumers renting instead of buying, and who is part of this trend? According to new data from market research firm Lab42, most renters are Gen Zers and millennials looking to make practical choices.
The most common reason for renting is testing items before deciding whether to purchase them (57%), needing a temporary solution (55%) and only needing an item for a short time (52%).