Popular item rental marketplace, Fat Llama, has stepped up to help the high street meet new consumer buying and selling habits through the launch of its latest enterprise rental software.
Fat Llama Enterprise is the latest B2B offering that allows retail partners, including household names such as John Lewis and Sofology, to lend their products to busy customers who want to shop in ways that suit their own lifestyles, needs and concerns.
In the last 12 months, businesses have felt the pressure from consumer-conscious customers to develop environmentally sustainable models. With the rapid growth of ecommerce, ethical practise is a growing priority for customers. This means that more and more consumers are now attracted to more sustainable retail choices, including practices that include renting, reselling items, and recycling.
Cofounder and CEO of Fat Llama, Chaz Englander said, “The pandemic has forced companies to reevaluate what is important to their customers. Increasingly young consumers are looking to reduce their carbon footprint, and they expect retailers to follow suit. Rental as a service is a step in the right direction.”
Ethics and experience first
The software also comes on the back of a growing demand for consumer experience, over access and ownership. The sharing economy has proven to be a new outlet for consumers, especially millennials and Gen Z, to be both creative and mindful when they purchase. If retailers want to keep their brand both compelling and meaningful to the next generation, it is essential they tap into this market.
The Enterprise software has been designed to empower retailers to offer attractive rental options, without the complex technological and regulatory issues that come with it. This includes building fresh rental platform and managing verification requirements and customer payments.
The software makes the change simple by building on the existing online presence of retailers and managing logistical errors as customers navigate the latest options, while ensuring all products are fully insured.
The enterprise is proving that it is meeting customer demand; during an eight-week trial, the software enabled John Lewis to sell out its entire rental inventory in the first 48 hours.
With more brands globally set to enter the sharing economy space in a bid, platforms such as Fat Llama’s enterprise software are only beginning to meet customer demand for sustainable and experience-driven retail.