"Chanel Bags for Rent"... The Side Hustle Trending Among Young People [Z Gold Around the World]

Side Hustle of Clothing Rental Spreads in the U.S.
Earning Income by Lending Out High-End Fashion Items
Users Reduce Costs by Renting Instead of Buying

Editor's NoteGeneration Z (those born from the late 1990s to the early 2010s) is gaining attention as a generation that leads culture and trends in a rapidly changing era, setting new standards across society. [Z Gold Around the World] highlights the lives and values of Generation Z worldwide and explores how they are transforming society.

Among Generation Z in the United States, the side business of "clothing rental," which involves lending out clothes and bags for profit, is spreading. Providers can cover rent and living expenses by renting out items they no longer use, while users can save money by renting instead of buying expensive items, creating a win-win structure for both sides.

"You Can Earn Up to $2,000 by Lending Out Clothes"

Chanel Mini Classic Bag. Chanel Official Website

Recently, CNN in the United States introduced the growing trend of clothing rental as a side business among young people in an article titled "A Stylish Side Hustle Is Gaining Attention: Lending Out Clothes."

Emily Nasse, a 30-year-old living in Manhattan, New York, earns between at least $500 and up to $2,000 per month by renting out her clothes and accessories. She registers apparel and fashion goods on the fashion-sharing platform "Pickle" to generate income, and her Chanel mini wallet has been so popular that it was rented almost every week for a year.

Nasse said, "I'm satisfied that others can use my wardrobe," adding, "It's also meaningful to offer people the chance to experience luxury that is not easily accessible." She continued, "Since I'm making use of items I don't use, it's beneficial for everyone." She revealed that she spends most of her rental income on living expenses such as rent. While some people use their side business earnings to buy more clothes, Nasse said, "I don't have the financial leeway for that."

This service is also drawing attention as an attractive alternative for users. Samantha Mason, 31, who lives in Los Angeles, said she often rents clothing as well. "On Pickle, you can rent clothes the same day, and you can find most fashion items," she said, adding, "You can use high-end products like Chanel or Miu Miu without paying full price."

"Compromising With Reality by Renting Clothes Instead of Buying Luxury Goods"

Pixabay

The popularity of clothing rental services is rooted in the practicality and rationality valued by the younger generation. Thomai Serdari, a marketing professor at New York University, explained that since the costs of various gatherings and events are significant, some young people are compromising by renting clothes instead of purchasing expensive luxury goods.

Professor Serdari told CNN, "While Millennials spread awareness of the sharing economy, Generation Z is taking it a step further," adding, "Generation Z is not financially affluent, yet they have a strong desire for high-end consumption and are constantly striving for success."

This consumption pattern is also linked to employment instability faced by young people. The U.S. unemployment rate last month was 4.6%, up from the 54-year low of 3.4% recorded in April 2023. The burden of living expenses is also considerable. As the costs of housing and food rise rapidly, the issue of affordable living expenses is emerging as a major topic in political circles.

As a result, more people are choosing side jobs. According to a survey on side jobs released last July by Bankrate, a U.S. personal finance consulting firm, one in four American adults has a side job. In particular, more than one-third (34%) of Generation Z are working side jobs in addition to their main jobs, a higher rate than Millennials (31%), Generation X (23%), and Baby Boomers (22%).

Side Job Participation Also Rising Among 20s and 30s in Korea

Meanwhile, a similar trend in side jobs is appearing in Korea. According to a survey on "side job participation" conducted last month by New Worker, a gig worker (short-term job) platform operated by the job portal Incruit, among 728 adults, the proportion who said they had a side job was 49.5%, nearly equal to the 50.5% who said they did not. Among office workers, 48.4% said they were engaged in side jobs.

By age group, participation in side jobs was highest among those in their 30s (57.0%) and 20s (55.2%), followed by those in their 40s (50.4%) and those aged 50 and above (30.7%). The most common reason for choosing a side job was "to secure additional income" (82.5%). Other reasons included "lack of self-fulfillment in their main job" (6.9%), "having spare time" (5%), and "exploring new careers" (5%).