Consumer Products Rental NAICS 5322

May 28, 2026 - Consumer Confidence Drops

• The Conference Board’s Consumer Confidence Index decreased to 93.1 in May (1985=100) from 93.8 in April. The Present Situation Index - based on consumers’ assessment of current business and labor market conditions - dropped three points in May to 121.2. The Expectations Index - based on consumers’ short-term outlook for income, business, and labor market conditions - increased to 74.4 from 73.4. Dana M. Peterson, Chief Economist at The Conference Board, said, "Consumer confidence edged downward in May as the inflationary impacts of the war in the Middle East intensified. Consumer appraisals of current business conditions and the current labor market were moderately less positive compared to last month. This was somewhat offset by modest improvements in consumers’ expectations for business conditions and the labor market six months from now. Meanwhile, income expectations eased in May, as those anticipating less income rose."
• The apparel retail and rental subscription firm Urban Outfitters posted solid revenue and profits in the first quarter of 2026. The company's revenue in Q1 rose 11.4% to $1.48 billion compared to the first quarter of 2025, beating analyst estimates of $1.46 billion. Nuuly, Urban Outfitters' apparel subscription rental business, was a strong contributor to the firm's first-quarter success. Nuuly's Q1 revenue increased 34.5% year over year, which was driven primarily by a 33.3% increase in active subscribers. Urban Outfitters' CEO Richard A. Hayne said, "Nuuly continues to scale with impressive speed, well on its way to the magic $1 billion goal."

• Upbound Group, the owner of Rent-A-Center consumer products rental stores, notched first-quarter 2026 revenue of $1.2 billion, which was up 3.7% compared to Q1 2025. Growth was led by 40% year-over-year increase in revenue for Upbound's Brigit division, which offers consumer financial services. The company's direct-to-consumer, lease-to-own business, Acima, saw Q1 2026 revenue increase by 1.8% year-over-year. Upbound's Rent-A-Center same-store revenue increased 0.4% in the first quarter compared to the same period in 2025.
• Amid rising apparel costs and shifting consumer habits, clothing rental platforms are gaining traction as budget-friendly alternatives, according to NPR. More than half a million women rent clothes, finding it cheaper and more flexible than buying. The apparel rental industry is valued at $2.6 billion and is projected to more than double by 2035, according to Future Market Insights. The industry has benefited from inflation and tariffs, which have driven up clothing prices. Companies like Nuuly and Rent the Runway are expanding inventory to meet holiday demand, though tariffs and supply chain delays pose challenges. Rental services appeal to consumers seeking fresh wardrobes without long-term commitments, offering convenience and cost savings while reshaping how fashion is consumed.