As we approach the circular economy full speed ahead, we strap our seatbelts in preparation for a prolonged period of regeneration with a mantra of “make, use, return”.
This will have implications across most industries. But, it seems interior companies are the front runners who have spotted a gap in the market for leasehold furniture.
As society swoops towards an era of designing out waste and reusing products, our non-committed lifestyles lead us to a fluid way of living. Statistics suggests that one in three UK millennials will never own a home; leading to the inescapable need of rentable furniture.
Leading the way, interior giant Ikea is ready to set the wheels in motion for a new way of living. The trial kicks off in Switzerland for leased homeware goods in the coming months. This will offer “scalable subscription services” for many types of furniture. Maybe new isn’t always better?
Following Ikea’s lead, Harth has created a rental service for high-end interiors. The interior design moguls’ inspiration was sparked by the sharing economy, in particular platforms such as Airbnb. Here, assets and services are shared between private individuals which mirrors the notion of leasable furniture.
What’s next for the future of furniture retail?
There’s no denying that sustainability is at the heart of this furniture breakthrough. But, are we taking a step back fifty years to when television and fridge rentals were all the rage or is this a revolutionary leap forward?
The debate on how furniture retailers can stay future-proof is ongoing and the idea of capturing millennials through social media is quickly becoming a reality.
Many retailers are boosting footfall through offering experiences; begging the question of whether interiors brands who aren’t able to lease furniture should be working the same way to offer sustainable activities as part of their business strategy?
We’d love to hear your thoughts, let us know at @Approach_pr!