{"id":33650,"date":"2021-02-02T19:15:44","date_gmt":"2021-02-02T13:45:44","guid":{"rendered":"https:\/\/www.the-next-tech.com\/?p=33650"},"modified":"2021-02-02T19:15:44","modified_gmt":"2021-02-02T13:45:44","slug":"build-rental-furniture-ecommerce-platform-key-features-and-functionalities","status":"publish","type":"post","link":"https:\/\/www.the-next-tech.com\/business\/build-rental-furniture-ecommerce-platform-key-features-and-functionalities\/","title":{"rendered":"Build Rental Furniture eCommerce Platform- Key Features and Functionalities"},"content":{"rendered":"

The rental economy is soaring to great heights. A few verticals such as clothing, adventure gear, office equipment, car rental, etc have garnered widespread popularity. If reports are to be believed, the furniture rental market is expected to increase by $800-850 million from the current size by 2024. Needless to say, millennials from across the world are the driving force as they are bucking the norms of traditionally owning furniture & are instead opting to rent.\u00a0<\/span><\/p>\n

As people continue moving to cities & different countries for studies, jobs, better opportunities, etc., renting furniture is a perfectly poised choice. After all who would want to be saddled with a big couch in their living room if one was to move across the oceans.<\/span><\/p>\n

Top Players in the Online Furniture Rental Industry\u00a0<\/span><\/h2>\n

Furniture rental platforms are appealing to the ones who are on the go. Researchers have also found out that the customers are willing to change their behavior and rent furniture if the environmental damage is reduced. Here is a list of the top players in the Online Furniture Rental Industry:<\/span><\/p>\n

\"Furniture<\/p>\n

Online Furniture Rental – Business Model<\/h2>\n

The business model<\/a> of Online Furniture Rental works on the collaboration of rentee, renter & admin. The rentee(s) (website visitors) send a furniture rental request by paying a basic rental fee to the website owner. The vendor accepts the rental request & the furniture is dispatched to the rentees address.<\/span><\/p>\n

The rental fee (after commission deduction) is credited by the admin to the vendor as soon as the rental request is accepted. A security deposit is however kept by the Admin which is refunded to the rentee upon a safe return. <\/span><\/p>\n

Depending on the business\u2019 \u2018Terms and Conditions\u2019, deductions can be made in case of a delayed or damaged return. The following video by CORT demonstrates this workflow well:<\/span>
\nAlso read:<\/span> Top 10 AI GPUs That Can Increase Work Productivity By 30% (With Example)<\/a><\/span>\n

Online Furniture Rental – Revenue\u00a0 Model<\/h2>\n

A furniture rental marketplace garners revenue from various channels, listing items on the website by a vendor & renting them generates money. A few other revenue generation models are as follows:<\/span><\/b><\/p>\n