TITLE:
Executive Garment Rental Service—A Study on Consumers’ Preferences
AUTHORS:
Vijayudu Gnanamkonda, Chakravarthi Koundinya, Purna P. Nandamuri
KEYWORDS:
Shared Economy, Rental Service, Non-Ownership, Garment Rental Service
JOURNAL NAME:
Theoretical Economics Letters,
Vol.9 No.2,
February
25,
2019
ABSTRACT: Purpose:The purpose of the study is to find the market dynamics across executive garments rental service for men and to assess the importance of determinants of the growing consumer preferences for renting the garments for personal consumption.Methodology:Initially following a qualitative preliminary study and a review literature review, five factors are identified as feasible determinants of a preference for rental consumption. The determinants are examined through structured data analysis using multiple regression analysis and Cronbach’s alpha.Findings:The results found that the constructs“importance of possession, convenience, and experience orientation”were significant. Price and trend were insignificant.Originality:This research is contributing to a new area of sharing economy, which has beenpreferred by the modern younger generation. The empirical evaluationamong modern younger generation has proposed several determinants for garment rental preference.