The concept of ownership has completely evolved. Netflix has changed how we watch movies, Spotify has revolutionised how we listen to music and Uber has transformed how we get from A to B. Now, alternatives to owning furniture, the third largest material asset in consumers’ lives after a home and car, are popping up and taking advantage of the growth in the rental market.

Better known as ‘non-attachment’ today’s society unknowingly lives by the ancient Sanskrit term: Aparigraha.

Climbing house prices and flat salaries have become a recipe for renting. More than 40% of young Brits say they will never own a home, according to mortgage lender Landbay, while the average millennial that does go on to buy can expect to pay more than £100,000 on rent before acquiring their first property.

Not only are young people being forced to rent for longer, but families are also being priced out of the market. Quite often, the only thing that remains constant is the cactus plant that moves with us from rental home to rental home.

Life on the move has triggered furniture brands big and small to move away from purely targeting home owners and instead tap into the growing rental market by offering alternatives and helping change the relationship consumers have with material goods.

Appealing to the modern-day market

Even Swedish flat-packing pioneer Ikea has released an entirely new range of furnishings designed for millennial renters.

Its Självständig collection, meaning ‘independent’ or ‘free from outside control’, launched in October and includes pieces such as cushions, customisable rugs and versatile furniture which come in an array of colours and can be used indoors or outdoors. Its intention is to help renters add some personality to their homes.

Sourced through Scoop.it from: www.marketingweek.com