Chapter 1 — full chapter
1.3.2.4. Rental and product-as-a-service
Renting or subscribing gives customers access without ownership and turns a product into a recurring revenue stream. The global fashion-rental market was valued at around 6.2 billion US dollars in 2023 and has more than doubled since 2016. Because rental depends on knowing exactly which item is where and in what condition, it relies on dependable product identity, which is precisely what a passport provides. Nike, for example, has used passport-style data to manage rental logistics and authenticate returned gear.