How To Build An App Like Rent The Runway

Thinking of starting your own clothes renting business? You are on the right platform. Renting clothes for different occasions like partying, weddings, and any other function has become a trend. It is convenient plus affordable for individuals as it saves money from investing to own a full getup. People find it very convenient not just because it saves money but also because it helps them browse different styles at affordable prices. However, it is always better to rent than owning an attire that is going to be used for a day only.

Rent The Runway was launched in 2009 in the United States. It was founded by Jennifer Hyman and Jennifer Fleiss. The marketing tactics and easy accessibility of the platform have gained popularity in a short time.

Due to this convenience and efficiency, clothing rental applications are rising. That’s where a Rent The Runway clone app comes into the place. In this blog, we are going to discuss the in-depth process of building an app like Rent The Runway. We have researched the internet and have bought your detailed guide for development. Now, without taking more time, let’s get started:

Statistics About Clothing Rental Business

Let’s get to know about the market and revenue growth in the clothing rental business. Continue reading:

• The financial growth in the cloth rental business is high, as it is expected to reach $1.69 billion before the end of 2024.
• It is growing at a CAGR of 8.5% between 2024-2030.
• Taking you further, the revenue is anticipated to reach $2.33 billion before 2030.

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Advantages Of Developing An App Like Rent The Runway

No doubt, a clothing rental app like Rent The Runway comes with several business benefits. Check some of them below:

High Revenue Growth

We have gone through a few marketing stats and growth of the clothing rental business above. That shows that starting this business is secure and has a lucrative future. With proper planning and applying the right monetization strategy, businesses can earn their desired amount.

Increase Brand Value

The rise in popularity of the rental business can attract many customers to the platform. A strong social media presence and marketing strategy can attract a bunch of users. Also, the attractive and exceptional UI/UX of the application can retain a number of customers, resulting in increasing brand value.

Geographical Expansion

An app like Rent The Runway can help businesses break the boundaries and reach new regions to provide services. With advanced features like multi-lingual and multi-currency support, businesses can engage with new countries and regions and provide renting services, resulting in exponential growth.

Features To Have In A Rent The Runway Clone

It is important to have some vital features in the application that resonate with the original app. Let’s take a look at them:

Simple & Quick Login/Signup

Logging in and signing up in an app like Rent The Runway must be simple and incorporate social media platforms to provide seamless and quick signup/login.

Advance Search Filters

The advanced search filters let users find their products for rental. This lets them input a keyword, and the app provides products matching the keyword.

Flexible Rental Categories

This feature lets users categorize their search bar into categories. Users can easily browse categories and rent products on a weekly, daily, and annual basis, too.

Clear Pricing

While choosing an item for rental, users get a definite price without any hidden cost. It improves transparency and helps businesses to reach their success goal.

Multiple Payment Gateway

A multiple payment gateway is integrated to let users pay using different payment options like credit/debit card, Google Pay, Amazon Pay, net banking, etc.

AI-Chatbot

An AI-powered chatbot provides instant support on basic queries while renting an item. It is pre-trained and acquires a strong machine-learning algorithm to solve every doubt.

Language Support

Multiple language support features help translate all of the in-app content into the native language of users. It helps in building trust loyalty, and expanding business awareness.

Data Analytic & Insights

It is an important feature for business owners and also for the host that helps them view the collected in-app data and user insight. This collected data helps in making better decisions.

Professional Dashboard

A professional dashboard is helpful for business owners and vendors to take a live view of business happening in the form of charts, infographics, stats, etc.

Communication

This feature connects users with the admin panel and renters. In short, any entity using the application connects with anyone using this feature.

Ways To Make Money With An App Like Rent The Runway

A Rent The Runway app clone comes with various ways to make money. Here are a few of them to consider:

Commission Model

With this model, businesses earn a cut from every successful payment made through the platform. However, business owners can decide how much they will take as a commission.

Subscription Model

A subscription model allows admins to provide advanced features to the users, like priority listing, quick delivery, access to eWallet, discounts, and coupons. But to avail them, users and renters have to pay a fee. This fee is directly credited to the business’s account, resulting in increased revenue.

Value-Added-Services

Rent The Runway app offers more than basic rentals, like dry cleaning, fashion consultation, and insurance addition, which generate extra revenue. Busy users might appreciate having dry cleaning included in their rental, and others might opt for styling advice for special occasions.

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How To Build An App Like Rent The Runway?

Developing a Rent The Runway clone requires concentration and skill in hands-on dynamic technology. Check the list below:

Market Research

The first phase is to conduct in-depth market research. The goal is to align the business plan with the current market trends. Gather some stats from the ongoing market and check if your business needs any improvement to enter the market. Also, know about people’s preferences and the seasons when this business shows exceptional growth.

Competitor Analysis

Analyzing competition is also an important part of building an application. Find other running applications similar to Rent The Runway and examine their services. Also, find their product categories, customer insight, comments & feedback, etc. Also, try to find a gap and create a solution to win the game. Helpful tip: Analyze the customer’s comment to decide on top features, get the problem and create a solution, build marketing tactics, etc.

Choose A Business Model

Without a business model, your Rent The Runway-like app will be just an application. But with a business model, you can leave a mark on customers that can compel them to use your app next time. If you are planning for a single vendor rental app, then you will be connecting with customers directly and acquiring control of every sale.

On the other hand, starting a multi-vendor rental marketplace lets you connect with different entities who want to acquire stuff for renting. This helps increase brand identity and generate high revenue.

App Designing

Now, it’s time to hop on the technical part. It’s time to design the application. This stage includes planning color patterns, UI/UX, brand logos, fonts, pagination, navigation, number of pages to be included, and many more. The content and planning of the in-app categories also fall under this process. It requires expertise in popular designing technologies such as Figma, Sketch, Adobe XD, Proto.Io, InVision, etc.

Choose A Platform

Choose between Android and iOS. An Android application can be rendered on Android devices, and iOS supports its own devices. But how about building the Rent The Runway app for both platforms? A hybrid application can be rendered on Android devices and iOS devices effectively and works similarly. Developing a hybrid application requires modern tech stack knowledge and must go through rigorous testing.

App Development

Developing an app like Rent The Runway requires concentrated planning and smart use of technology. That’s why we recommend you look for a professional on-demand app development company. A development partner to create a Rent The Runway clone can help you get your application under budget, easy customization, promotion & marketing, and provide post-deployment support.

App Testing

The testing phase conducts a check through the entire application to ensure the features, functionality, UI/UX, and spotting bugs are also a part of the testing. It also includes verifying the API’s duplicity, the working of the payment gateway, and the application’s lag. A professional QA and tester’s team is assigned to complete the job. Later, the team creates a quality report that developers further process.

Deployment

Finally, your Rent The Runway app development reaches its final destination, which is to deploy it to make it available for worldwide use. This publishes the entire programmed code to domains and servers using technologies like Git and Bitbucket. In this case, Hyperlocal Cloud offers free app deployment on Google Play Store and Apple Store.

Post-Deployment Support

Deploying the application makes it available for users, but you will also want to apply timely changes to make the app up-to-date, like Rent The Runway. Timely updates like updating UI/UX, adding additional features, adding pages, etc., can increase business sustainability.

Cost To Build An App Like Rent The Runway

As we have seen, some special features of this application and its future benefits. So, how much does this next-generation application cost? Direct answer: it depends. There are several components that affect the app development cost. Let’s know a few of them:

• App type & size
• Operating system
• Complexity of application
• Functionalities and features
• Custom features
• App development region
• Marketing cost

If we talk about time, then it depends on whether you are planning to customize a white label solution or thinking of building an app from scratch.

Bottom Line

Building a Rent The Runway-like app comes with vast opportunities for sustainable business and high income. With proper planning and cutting-edge marketing strategy, any business who are planning to build a Rent The Runway application can become successful. But still, it demands concentrated development and awareness of dynamic technology. It is where a next-level on demand app development company comes into action.

Hyperlocal Cloud, a professional on-demand app development company, can help you achieve all your business goals effectively. We are new to the market, that’s why we adhere to every upgraded knowledge of technology and marketing trends. Our 150+ professional developers are well-known for creating effective solutions that align with your business needs.