Furniture on Rent – Why Millennials Will Be the Big Beneficials
If you’re looking for a way to spice up your home, you may want to consider using Furniture on Rent. You can get a new couch or accent chair, or even a whole new dining room table. Rental companies offer a variety of options and will even deliver and assemble your furniture. You can also rent artwork to make your space feel less like a temporary place. The best part is, you can pay for one piece, or the entire plan, and then return it when you’re done.
A new study suggests that millennials will be the biggest beneficiaries of furniture on rent. This trend is particularly important because they are the most likely to move from one house to another. Consequently, they will not be interested in buying and selling furniture when they are moving. Instead, they will opt to rent it instead. This trend is likely to continue until the economy recovers from the recession. In the meantime, furniture on rent will still be in demand, but will be more convenient for consumers and businesses alike.
In fact, the furniture on rent market is seeing a big boost thanks to investments. In recent years, it has seen an increase in investment from both private and public sectors. Several startups have emerged in the sector. Fernish, for example, has raised US$100 million in venture capital. While it may seem small, it is already generating millions of dollars in revenue. With this money, the next step is to launch a website that allows customers to search for available furniture.
Furniture on Rent has been around for a long time. However, in recent years, the furniture on rent market has seen a shift to tier-2 cities. The shift to this mode of living has helped the business adapt to these new demands. Millennials also tend to buy furniture on rent more than they spend on other types of rental. Moreover, the emergence of the work-from-home model has helped the industry grow.
Until 2019, furniture on rent providers focused on tier-1 cities. As more people move from one city to another, the growth of tier-2 cities has shifted the needs of many people. With this shift, the average income of tier-2 cities has increased by 7% annually. While this growth is significant, it is not sufficient to fuel the growth of this industry. The demand for furniture on rent in tier-2 cities has been boosted by the increasing number of work-from-home models. This growth has led to a dramatic decrease in the overall cost of owning furniture.
The furniture on rent market is growing rapidly, especially in North America. By 2021, the U.S. will account for more than half of the global market for furniture on rent. The growth of this market in the U.S. is projected to reach US$ 50 billion by 2031. While this is an impressive number, it’s far from being a high-growth market. There are a few advantages to the model, though.
The major advantages of Furniture on Rent are numerous. First, the service removes the need for a landlord to maintain the furniture. Since the furniture on rent company takes care of cleaning and regular wear and tear, it can help you enjoy a home-cleaning without the stress of owning it. It can also give you peace of mind. Secondly, it’s a cost-effective option for startups. The business model has been attracting venture capital.
Another advantage of Furniture on Rent is that the services offered by the company are flexible. Cort will deliver the furniture in a 48-hour period, and pick it up at the end of the lease. The service will return your furniture to you, and you can exchange it with another one. You’ll have to pay a small fee for return shipping, but your rental price will stay the same for the duration of the lease. You can also choose a longer period.
Furniture on Rent is an ideal choice for those looking for a temporary solution to furnish their homes. By renting your furniture from a subscription service, you can get a great deal on temporary furnishings and don’t have to worry about committing to long-term leases. Moreover, furniture rental is more environmentally friendly than purchasing it. You don’t have to store it for months and weeks, and you can also get free pick-up and delivery of your furniture if you don’t need it.