Gen Z is driving a major shift away from traditional ownership and toward a rental-first lifestyle, according to a Fox Business discussion on the growing “rental boom.” Young consumers are now renting everything from clothes and kids’ strollers to glassware, treating access as more important than possession. What older generations might see as a financial red flag, many Gen Zers now see as a smart, flexible way to live—one that allows them to enjoy variety and convenience without long-term commitment or big upfront costs.
The panel highlighted that this rental trend has both lifestyle and environmental benefits. Renting fashion and children’s toys, for example, keeps items in circulation longer and reduces waste compared to fast fashion that ends up in landfills after just a few wears. At the same time, there’s still tension between the pride and responsibility that comes with owning assets and the ease of simply renting what you need, when you need it. The guests cautioned against calling things like clothes or shoes “assets,” noting that most people don’t recoup much value when they try to resell them.
Technology is the backbone of this new rental economy. Subscription platforms and apps now make it easy to rent clothes, accessories, and even household items on demand, in much the same way services like Uber and Airbnb reshaped transportation and travel. Companies such as Nuuly, FashionPass, and rental programs by major brands leverage cloud-based technology to manage inventory, logistics, and customer preferences at scale. The result is a fast-growing business model where Gen Z can constantly refresh their lifestyle—wardrobes, baby gear, and more—without needing to own it all.
Sources: Midtown Tribune news , Video Fox Business