Can't decide which handbag
to buy? Rent it first
SINGAPORE (AFP) - A Louis Vuitton
bag, diamond-inlaid guitar, Gucci shades and a dog. Total cost?
Less than 1,000 Singapore dollars (654 US). The catch is, you're
only renting.
Model from the new "Panama
Flight Bag" collection by Louis Vuitton
As consumers scrimp to survive the
worst global economic crisis since the Great Depression of the
1930s, Singaporeans are increasingly turning to Internet-based
rental outlets to at least maintain their sense of style, business
operators say.
"Just like how local coffee shops
can expect better business than restaurants in times of economic
turmoil, I believe a guitar rental service would be much
appreciated in these times," said Elaine Khoo, owner of
Rent-A-Guitar.
Her online company offers electric
and classical guitars of various makes as well as amplifiers and
guitar accessories for just one dollar per item a day -- with a
deposit, of course.
Although not yet able to provide
figures, Khoo said she has been "pleasantly surprised" by the
response to her service, and said the economic crisis partly
inspired her to set up her business in February.
"I see the economic gloom as an
opportunity for me to promote a service in which customers pay a
smaller amount to rent the guitar rather than buy," Khoo
said.
Another rental company that says
it is doing well despite the gloomy economy is thatbagiwant.com,
which allows trendy customers to rent luxury handbags and
sunglasses at prices vastly lower than their retail
cost.
"Because of the recession,
business has gotten better," said owner Tan Ho Ching, adding that
fashion-conscious customers unsure about buying costly bags are now
embracing his service to save money.
The customer base for
thatbagiwant.com more than doubled in the three months after
Singapore, in October, became the first Asian economy to enter
recession.
"People who were sitting on the
fence are now trying it out, preserving their capital," he
said.
Dog-sharing service Easy Dogz has
also seen more customers in recent weeks, according to owner
Herbert Lim.
The service allows clients to take
home breeds including golden retrievers and Jack Russells after
paying rent of 30-50 dollars a day on top of a 100-dollar
membership fee.
The company has not been adversely
affected by the economic downturn, said Lim, and have even received
a boost after running ads in a local newspaper.
More conventional rental services
also say business continues to be brisk.
DVD rental firm Homepal Private
Limited said more people were signing up, with chief executive
officer Eric Tham estimating a 10 percent rise in membership over
the six months to February.
Homepal allows customers to rent
DVDs over the Internet and delivers the movies to their homes by
post. Members pay a monthly subscription fee and are allowed to
keep the DVDs for as long as they want.
"There's more people staying at
home. This is a form of entertainment that is affordable," said
Tham.
Games rental company Red Sands
Gamers Club also said it membership was up by more than 50 percent
since Christmas, and owner Jeffire Yang said this was due to
customers' cost-cutting measures during the holiday
period.
"I spoke to my customers. They
said that they bought (games) consoles instead of travelling
overseas (to save money)" which led to increased membership for Red
Sand's games rental services, Yang said.
Membership allows members to enjoy
discounts on goods and services offered at Red Sands.
Even one of the major players in
the local telecommunications market has rolled out a mobile phone
plan that is similar to a rental scheme.
MobileOne's Take3 programme allows
customers to own new mobile phones at significantly lower prices
after subscribing to any of its service plans.
Customers have the option of
swapping their phone for another after nine months for a fee, or do
the swap at no cost after 20 months.
Under the programme, an LG KF900
Prada II phone would cost 201 Singapore dollars per month, against
a purchase price of 1,288 dollars.
"They get to enjoy the use of the
latest handsets without paying upfront cost. it is likely to be
especially welcome in the current economic crisis," said Geraldine
Lai, a spokeswoman for MobileOne.
It's different for Singaporeans
with such deep pockets they can still rent an entire island -- and
keep it all to themselves.
Indonesian island resort Pulau
Pangkil Kecil, accessible by boat from Singapore, can be rented for
varying rates depending on the season -- from 2,600 Singapore
dollars per night for one to ten people on a normal weekday to
4,500 dollars on selected public holidays when bookings are
tight.
The cost covers all meals and use
of the island's facilities, which include nine luxury
accommodations, a bar, swimming pool, speedboats and more than 20
staff, according to the island's website.
"It's the same as last year, which
was one of our busiest years -- people still see us as very good
value for money," said a company spokesman.by Philip Lim
