I. The rise of the user economy 🚲
A change in consumer mentality
Today's consumers no longer seek to accumulate objects. The idea of possession as the only way to enjoy a good is increasingly being called into question. The millennial generation, for example, values access to services rather than ownership itself. Why own a car, when services like Blablacar or Uber can satisfy the same needs? 📲
This shift is largely due to the emergence of the collaborative economy and growing ecological concerns. According to a study by Xerfi, 78% of young people prefer to rent a product if it helps them reduce their carbon footprint 🌍. As a result, the circular economy concept - which promotes the reuse and rental of goods to extend their life cycle - is developing rapidly.
Rental, a booming business model It's against this backdrop that the rental offer is exploding. Companies like Leroy Merlin offer tool and equipment rental solutions, enabling customers to pay only for the occasional use of a product. This trend is spreading to sectors as varied as bike rental 🚴♂️, ski equipment ⛷️, and even everyday items such as clothing and electronics.
The business model is simple but effective: rent a product several times before reselling it second-hand. This system generates recurring revenues for companies, while offering greater flexibility for consumers. Result: everyone wins! 👍
II. The benefits of leasing for businesses 🏗️
Less risk, more flexibility
Renting equipment means limiting risks. As a company, the rental offer makes it easier to adapt to demand. Whether you're in the business of renting industrial equipment, vehicles or even clothing, flexibility is essential to respond to seasonal fluctuations or market changes.
Take the example of construction equipment rental companies. Instead of going into debt to buy expensive equipment, they can rent and modulate their capacity according to their needs. This enables them to preserve their capital for other investments, while responding rapidly to projects as they arise. As the saying goes, "It's better to rent than to buy and be buried in debt" 😉
A stronger bond with customers
Renting also creates an ongoing relationship with customers. A rental service is not a one-off transaction; it's a long-term relationship. Companies can offer complementary services (maintenance, insurance) and thus enhance customer satisfaction. And guess what? A satisfied customer always comes back. 💡
III. A positive impact on the environment 🌱
Less production, more sustainability
One of the major challenges of this economy of functionality lies in its ability to reduce over-consumption and environmental impact. Every year, thousands of products are manufactured, purchased and then quickly discarded. Rental changes this by limiting the need for production. By maximizing the use of an asset, companies can reduce their carbon footprint and participate in a more sustainable model ♻️.
Did you know that when industrial equipment is leased rather than purchased, its lifespan can be increased by 25%? This is because leased products are often better maintained, as they need to be in good condition to be put back on the market. This limits the waste of resources 🌍.
The future belongs to those who rent!
Renting is no longer just about luxury items or professional equipment. Today, it affects almost every sector, from mobility to housing to leisure. Imagine a world where you can rent whatever you need, whenever you need it, without cluttering up your personal space. This economy of use is redefining the way we consume, and for the better. *By 2030, the functionality economy will account for more than 50% of transactions in the transport and equipment sectors, according to OECD forecasts. *, stated a 2021 OECD report.
Many French companies have seized the opportunity offered by the rental economy to transform their business model. Take Leroy Merlin, for example, which offers its customers tool and machine rental via a dedicated platform. This offer enables renters to access expensive equipment without having to buy it, while benefiting from the right to use it for a limited period. The result is a model based on functionality and sustainability, where the effect is twofold. Customers save on the purchase price, and companies gain through recurring revenues. What's more, the sale of rental services often offers additional options, such as insurance or extended rental periods. This model is proving to be an economic and ecological success story, particularly in sectors such as mobility or professional equipment in France.
Focus on: the disadvantages of buying, When possession becomes a burden 🎒
Buying a product involves much more than simply using it. As a buyer, you become responsible for the management and maintenance of this asset throughout its life. What initially seems practical or rewarding - possession - can quickly turn into a source of stress. Businesses, too, suffer these effects: acquiring equipment rather than leasing it can tie up significant resources, affecting flexibility and increasing costs. Not to mention that the purchase price is often higher than the cost of leasing over a similar period of use. In the end, the effect of ownership translates into additional burdens in terms of maintenance and responsibilities, turning the purchase into a real burden in the long term.
In a nutshell? 📋
✅ The use economy replaces ownership, offering consumers a flexible, sustainable alternative.
✅ Leasing enables companies to cut costs and optimize resource management while building customer loyalty.
✅ This model encourages more responsible consumption, aligned with carbon footprint reduction objectives.
**Sources : **
L'économie de l'usage, un modèle de consommation qui peine à émerger - Les Echos, September 2023
Économie durable : la location, ça peut aussi profiter aux entreprises - The Conversation, November 2023
Circular economy: towards a sustainable working model - La Tribune, 2023.
