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A decade ago, for the consumer looking to acquire the latest fashion label or product, the allure of the local shopping mall was irressitible. Today, however, the age of renting is upon us. Smart consumers are trading the value of ownership for the convenience of affordable multiusage arrangements, with the help of the World Wide Web.

The champions of renting include Renttherunway and Avelle (Bag Borrow or Steal Inc.) who have transformed the way women get their designer couture and accessories. These websites are called “Netflix for women”, because they allow consumers to rent high-end fashion, with easy, hassle-free delivery and easy return. If you doubt the popularity of dress rentals, head to the Facebook page of RenttheRunway, where happy customers proudly showcase themselves wearing the rented riches.

Nowadays consumers can rent entire wardrobes at websites like Renttherunway.com

Men can also rent luxury desirables, such as cars. In the UK, club Ecurie25, for a monthly membership fee, gives members access to exclusive motoring experiences, such as having a Ferrari 612 Scagliatti for the weekend. Ecurie25 claims that a high end car rental is a much more cost effective alternative to owning, as most of the exclusive car owners drive their treasures only on weekends.

And then there is the just “rent everything” website Zilok, which is the new eBay for rentals. Owners can offer any kind of goods for rent and Zilok shows listings in a given location along with conditions and available dates for rent.  The business model is simple: owners and renters create accounts for free and owners get charged commissions depending on the value of transaction (from 5% to 9%).

Renting is not a new thing, as not long ago we got rental offers everywhere: on the pages of weekend newspapers, mail catalogues and on TV-shopping channels. However, the online model of book-rent-return, along with transparent usage monitoring made possible by complementary apps (such as the app for ZipCar), make rentals today extremely appealing. In fact, renting is currently so prominent that now there are services where one can rent a friend (www.rentafriend.com) to hang out with.

Nevertheless, the trend of renting is widely pioneered by women. For example, Chegg, which offers textbook rentals on college campuses, says that 65% of renters are female. Chegg researchers explain that females are inclined to plan ahead and hence are much better in using online renting services.

Gilbert Parker had said,  “paying is part of the game of life: it is the joy of buying that we crave.”  With all due respect to Sir Parker, he didn’t face the current era of online rentals, which have enabled consumers to break free from the trip to the shopping mall.