Although the economy is slowly recovering, the future of formal wear and costume rentals does not look so bright. Industry demand, revenue and profit are expected to continue their declines as inexpensive imports penetrate the market and increasing disposable incomes lead consumers to purchase formal wear and costumes instead of renting. The tuxedo rental segment will keep the industry afloat, however, as consumers are still likely to prefer the tuxedo rental service based on long-term investment value.
Establishments in this industry primarily rent clothing such as formal wear, costumes and other clothing to end consumers. This industry does not include companies that primarily sell these items. This industry also does not include companies that primarily launder and supply uniforms and work apparel, these operators are included in the Industrial Laundry and Linen Supply industry (IBISWorld report 81233).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.