It was with a lot of dismay that one read this news – Indians are big time into renting out luxury goods!! People are actually paying money to rent out a Prada shoe or a Gucci bag or even such big labeled clothes which otherwise is out of their reach. So things which can be rented – luxury handbags, luggage and travel gear, clothes and accessories, gold and diamond jewellery, furniture and home appliances and baby products.
Like one can rent a Prada bag for Rs.13,499 for four days when the original costs is Rs.1,69,200. The usual norm is one has to be pay 5% of the cost of the product. Yes, one can understand that due to lack of storage space, one gets the convenience of renting luggage, travel gear, and camping equipment. Or say, toys and things like high-chair and prams, walkers which are of no use after some time. And what happens if you damage or lose the rented product? These startups who do this renting through their websites, take a security deposit, roughly 20% of the item’s retail price.
It somehow seems like suhc a desperate thing to do to project the “rich” image or this pursuit of “keeping up with the Joneses”. What kind of a phony way of life? But in today’s world, everything has a market – you have an idea, there are buyers. So this is a good business idea to cash in on this innate need to look rich and luxurious.