Hire services booming in the current economic climate

Hire services across the board from car sharing schemes to suit rental services have seen an upturn in business which experts believe is a direct response to the current economic climate.

With more people assessing their spending and tightening their belts with government cuts and increased job uncertainty, hiring equipment and products is a more affordable option as opposed to buying.

In cities, car sharing schemes and bike hire services are increasing in popularity with more and more people signing up for these schemes in order to save on the associated costs with transportation such as insurance, taxing the vehicle and servicing.

The Royal wedding in April has also been credited with boosting the formal suit hire market with suit rental provider, Moss Bros, reporting a busy summer season for their services as men have been encouraged to hire formal wear after the high profile wedding between the now Duke and Duchess of Cambridge.

While people’s appetites of designer goods has not diminished, their bank balances might of, and so designer handbag and shoe hire providers are seeing a surge in interest in their services as a result.

Leasing sports equipment including skiing gear, and also exercise machines such as treadmills and exercise bikes, with prices starting from £10 a week, is an increasing trend in the current society according to recent figures.