SARASOTA, Fla. (PRWEB) November 18, 2021
Post-pandemic consumer behavior is rapidly shifting away from the accumulation of goods to binge renting everything from clothes and RVs to vacation homes. The Shed, the first complete product rental solution, has responded with a growing selection of more than 100 brands, the launch of membership programs and the first experiential rental stores.
"Binge renting has emerged out of the growing desire for access over excess. Consumers today want the flexibility to try something new, get something done or have more fun without buyer's remorse," explained Daniel Perrone, CEO and cofounder of The Shed. "We've created an easy way to do that and the response from manufacturers and customers has been incredible."
The Shed has fundamentally changed the product rental model by building a solution for manufacturers to participate in the growing rental economy. Manufacturers ranging from Bluebird turf, Little Giant ladders, Drive Medical and Klymit outdoor gear have become part of a rapidly expanding inventory of new equipment available to rent at The Shed's original locations in Richmond, Virginia and Denver, Colorado. With a broad selection across eight rental categories, The Shed is now stocked with 140 brands featured on iShed.com, where consumers can browse and rent online and choose delivery or pick-up.
Top Rentals Driving Binge Trend
Easy access to rental products across all categories has inspired consumers of all ages to expand the scope of what they rent and to rent more frequently, according to data collected by The Shed. Top rentals over the past six months include traditional rental items like carpet cleaners, dump trailers, tables and tents for events, along with unexpected popular products such as Pop-A-Shot basketball games, stand-up paddleboards and cotton candy machines.
Perrone said the cultural movement towards binge renting is occurring as consumers realize there are alternatives to buying or borrowing that can save time, money and waste. Highly rentable items generally fall into one of 5 use cases:
1 - Large products - kayaks, portable bars, excavators, haul trailers
2 - Chore products - aerators, carpet cleaners, log splitters, tall ladders
3 - Don't know where to get it - wheelchairs, kids games, moving equipment
4 - Occasional use - camping gear, generators, metal detectors, pressure washers
5 - Try before buy - kayaks, jig saws, ebikes
Memberships Enable Binge Renting
Binge renting is the antidote to buyer's remorse, and the reason The Shed has just launched Membership plans providing access to nearly unlimited products for a monthly fee. Initial Shed Membership Programs include the Tool Box, featuring hundreds of tools for everyday and specialty needs; the Toy Box with unlimited access to indoor and outdoor games, along with cotton candy, popcorn and snow cone machines; as well as Lawn & Garden and Sports & Outdoor memberships. The Shed will soon launch professional memberships to provide business rental customers with an innovative alternative to a la carte rental programs that have existed for decades.
The Shed will be offering gift cards for Memberships, as well as traditional gift cards for the holidays in response to the growing interest in giving gifts of experiences versus physical goods. "In our case, we KNOW the gift will be gladly returned," Perrone added. "And it won’t be because someone didn't like it."
Re-imagining Rental Retail Experiences
In response to customer feedback and rental trends, The Shed is announcing the opening of its first experiential rental retail stores as part of its growth plan. The first Shed retail location will open soon in Portland (Tigard), Oregon, with another to follow in Denver (Westminster). The 23,000 square foot Tigard store will include an experiential showroom with seasonal vignettes, digital check-in, event space and an opportunity to test new products.
"Everyone loves the fact that they can finally browse and transact online at iShed.com," Perrone said, "But we have found that our customers prefer to pick up their rental orders versus choosing delivery, and they’re always amazed at what they see at The Shed. Our stores bring that experience to life."
The launch of The Shed retail locations that are "in plain sight" is expected to drive even more binge renting. And as the company’s inventory grows with more manufacturers interested in a turnkey rental solution, consumer adoption of product rental as a logical alternative to purchasing is almost limitless.
About The Shed
Based in Sarasota, FL, The Shed is disrupting the $125 billion product rental business as the first complete rental solution with ecommerce, delivery and storefronts. The Shed is the only product rental platform and logistics solution that brings manufacturers into the rental economy to completely transform the customer experience and enable unlimited growth.The Shed currently serves Richmond, Virginia and Denver, Colorado and will open soon in Portland, with plans to expand in 2022. For more information visit http://www.iShed.com.
