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2025 U.S. Industry Statistics & Market Forecast - Formal Wear and Costume Rental
Market Size & Industry Statistics
The total U.S. industry market size for Formal Wear and Costume Rental:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2020 2021 2022 2023 2024 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Formal Wear and Costume Rental industry include:- Growing preference for eco-conscious and sustainable clothing options
- Increase in online rental platforms impacting traditional brick-and-mortar stores
- Rising popularity of luxury rental services for high-end consumers
- Expansion of inventory to include diverse sizes and styles
- Integration of technology for improved customer experience, such as VR and AR
- Influence of social media on fashion trends increasing demand for trendy rental options
- Seasonal fluctuations in demand linked to events such as weddings, proms, and black-tie events
- Shift towards personalized and subscription-based rental services
- Greater emphasis on hygiene and cleanliness standards due to health concerns
- Collaborations with designers and brands for exclusive rental collections
- Increasing competition from second-hand and resale markets
- Challenges with logistics and inventory management in managing a diverse and extensive rental collection
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Formal Wear and Costume Rental company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Formal Wear and Costume Rental industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Formal Wear and Costume Rental measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 8% | Order at top of page |
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| Top Executives | 6% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 6% | |||
| General and Operations Managers | 6% | |||
| Sales and Related Occupations | 26% | |||
| Retail Sales Workers | 18% | |||
| Counter and Rental Clerks and Parts Salespersons | 17% | |||
| Counter and Rental Clerks | 16% | |||
| Office and Administrative Support Occupations | 12% | |||
| Installation, Maintenance, and Repair Occupations | 16% | |||
| Vehicle and Mobile Equipment Mechanics, Installers, and Repairers | 9% | |||
| Transportation and Material Moving Occupations | 26% | |||
| Motor Vehicle Operators | 11% | |||
| Driver/Sales Workers and Truck Drivers | 10% | |||
| Material Moving Workers | 12% | |||
| Laborers and Material Movers | 11% | |||
| Laborers and Freight, Stock, and Material Movers, Hand | 6% | |||
Formal Wear and Costume Rental Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Formal Wear and Costume Rental industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Formal Wear and Costume Rental industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Formal Wear and Costume Rental industry. |
Source:
Latest Industry News
- The Massive Secondhand Shop In Pennsylvania Where $20 Goes A Seriously Long Way - Philadelphia hides a bargain hunter’s paradise where Andrew Jackson’s face on a twenty-dollar bill transforms into a shopping spree of epic proportions. (07/08/2025)
- Why Do NBA Coaches Wear Suits Less Often Now? The Pandemic Shift That Stuck - Total Pro Sports - NBA coaches used to wear formal suits during games, which gave them a sharp and professional look. For many years, this dress code was seen as a tradition and part of the sport’s image. However ... (07/03/2025)
- What to Wear to a Formal Wedding, According to a Fashion Writer - I’ve scoured the internet for the best wedding-guest attire, and I’m here to share my findings with you. Read on for nine ideas for what to wear to a formal wedding. (07/02/2025)
- The Enormous Thrift Store In Arizona Where You Can Build A Wardrobe For Under $25 - The miracle of building a wardrobe for under $25 isn’t just possible here—it’s almost unavoidable. A quality pair of jeans might set you back $5. Add a couple of shirts at $3 each, maybe a sweater for those three days of Arizona “winter” at $4. Throw in a pair of barely-worn shoes for $8, and you’ve still got change left for accessories. (06/30/2025)
- Hidden Reasons Why Germans Wear Lederhosen - Germans wear lederhosen not just as a symbol of German identity but their pride. They value their cultural heritage as well as stay fashionable by wearing lederhosen men in different materials and designs. (06/25/2025)
- Which cabins are noisiest? 20 of the big questions in cruising answered - What should you pack for a cruise? Is there a dress code on board? Do cruise ships really have a brig for unruly passengers? Here are the answers. (06/22/2025)
- Hazleton’s tuxedo store closing after 53 years - HAZLETON — Customers entering Metallo’s Formal Wear in recent years have reminded owner Joe Scarcella that he rented tuxedos for their grandfather’s weddings. “It lets you know you did ... (06/13/2025)
- Wool coats and 19th century hats: See costumes soldiers will wear at big Army parade - USA TODAY - Soldiers will wear period costumes from wars throughout U.S. history to march in the Army parade. 'It's a little hot, but we'll get used to it,' one said. (06/13/2025)
- Top accessories for formal wear: What to wear with handloom sarees, deep necklines, blazers - Hindustan Times - Top accessories for formal wear: What to wear with handloom sarees, deep necklines, blazers By Adrija Dey Jun 11, 2025 04:07 PM IST Read this news in brief form (06/11/2025)
- Sydney Sweeney Is Shaping Her Own Story, One Fearless Role at a Time - W Magazine - LITTLE RED RIDING HOOD Sweeney wears a McQueen dress, tights, and boots; vintage cape from Alias Costume Rental, New York. To play Martin, Sweeney gained more than 30 pounds. (06/09/2025)
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