Driven by a younger generation prioritizing experience over ownership, from cameras to camping gear, China’s rental economy is evolving and surging past the ¥4 trillion yuan.
Beyond Housing and Cars, a New Rental Frontier
A new consumer ethos is quietly taking root among China's youth: access is better than ownership.
In recent years, the rental market has been booming. Data shows that China's rental transaction volume has already exceeded ¥4 trillion. The variety of rentable items has also expanded dramatically, moving far beyond traditional mainstays like housing and cars. Now, daily consumer goods such as cameras, clothing, and baby products are among the most frequently traded items.
In Qingdao, this surging demand has led to the emergence of shared digital product lockers at tourist hotspots and on busy streets, attracting residents and visitors alike with their unparalleled convenience. This increasingly competitive landscape is also pushing businesses to fortify their competitive edge through superior service.
Rental Consumption Enters the Fast Lane
The "rent anything" wave is here, captivating consumers with an ever-expanding catalogue of items, flexible terms, and diverse durations.
Hong Shengchang, a 25-year-old doctoral student and avid camera enthusiast, is a long-term user of a camera rental platform. "I mainly rent high-end cameras from various brands," he explained. "My personal gear is all Canon, but if I want to try a Fujifilm medium-format body, renting is vastly more cost-effective than buying a new body and a whole new set of lenses." Hong added that the process is seamless: "You just order online, and it's delivered to your door. Billing is based on usage days—the longer the rental, the lower the daily rate. When you're done, you just mail it back."
Mr. Zhao, a tourist visiting Qingdao, echoed this sentiment. He recently rented a complete camping setup online from a store on Jiading Road for a seaside weekend with his family. "I did my research," said Mr. Zhao. "An entry-level set costs over a thousand yuan to buy, and we wouldn't use it often. Plus, it's bulky to travel with. The daily rental fee was just 5% to 10% of the purchase price—a serious bargain. The shop even offered free delivery within the city, which was incredibly convenient."
A consumer scans a QR code to rent a camera from a street-side rental locker.
Mr. Zhao added that even the baby stroller for his child was rented online. "The stroller was already at our hotel before we even arrived in Qingdao," he marveled. "Traveling now is genuinely 'pack light'."
The rental economy has developed at a breakneck pace over the last two years. The "White Paper on the Healthy Development of the Consumer Rental Industry in the Context of the Circular Economy," co-published by government and industry researchers, projects that China's rental economy transactions will surpass ¥4.2 trillion in 2024, a 32% year-on-year increase, serving over 750 million users. The report highlights that rental consumption has permeated sectors like apparel, beauty, electronics, baby products, and office equipment, defined by three key trends: category diversification, digital-first services, and a strong demand for quality.
Young consumers are the driving force behind this explosive growth. Data from Zhima Rental reveals that users under 30 make up over 60% of the customer base, with orders from Gen Z consumers tripling in just one year.
Analysts suggest this shift is fueled by a generational belief in "experience over ownership." For many young people, the security of possessing an item has been replaced by the joy derived from using it—a sign, some argue, of a more mature and rational approach to consumption.
Digital Gadgets Spark New Rental Models
Among all rental categories, digital products are enjoying exceptional popularity. Here in Qingdao, this trend has given rise to innovative new models, such as shared rental lockers for cameras and drones.
Market data indicates that 3C (Computer, Communication, and Consumer Electronics) product rentals reached a market size of ¥26.91 billion in 2024, a figure projected to climb sharply by 2025. Corroborating this, the latest figures from Xianyu show that demand for rentable "travel photo buddies," like portable action cameras, has soared this year, with transaction volumes up 600% compared to the same period last year.
Mr. Jiang, who operates a camera rental business on Donghai Road, confirmed the trend. "Peak seasons are during holidays and concert weekends," he told reporters. "Popular models get booked up well in advance, and sometimes it's nearly impossible to find a spare camera." He listed "DJI's Pocket 3, Fujifilm mirrorless cameras, and vintage CCDs" as top rentals. "They're user-friendly, portable, and deliver the textured portraits, retro vibes, or vlog-style footage that young people love. They are a huge hit with students and young tourists."
Driven by consumers' desire for social media-worthy shots, astute entrepreneurs have launched shared camera and drone lockers in popular scenic areas, making rentals as easy as grabbing a power bank.
Shi Rui, a 25-year-old photography lover, noticed a particular fascination for photos from retro CCD cameras. Earlier this year, she launched a CCD camera rental locker near the aquarium, which she says was not only a first for Qingdao but among the first in the nation. "A CCD camera itself isn't expensive, maybe a few hundred yuan, though some models are now hyped to over a thousand," Shi Rui explained. "But for most people, it's about the novelty. They won't use it long-term, so renting makes far more sense than buying."
Her venture proved successful, prompting her to install two more lockers near Zhongshan Road and Maidao. Her inventory has expanded beyond CCDs to include models from Canon, Casio, Nikon, Sony, Samsung, Fujifilm, and DJI. "The total investment was around tens of thousands of yuan," she noted, "but the low barrier to entry means more players are joining, and competition is getting fierce."
Alongside cameras, shared drone lockers have become another key growth driver for Qingdao's rental market. At Laixi Yuehu Park, a drone locker regularly attracts curious passersby. One customer, Mr. Liu, shared his experience: "You scan the code, the drone pops out, and you control it with your phone. It's super simple—a beginner could learn in a minute. The pricing is also reasonable, with different tiers based on flight time."
As rental channels become more accessible, the competition is shifting from price wars to service excellence. The owner of a drone sales and rental store explained, "One major pain point for customers is the fear of damage and liability." To address this, he said, "Our drones come with the manufacturer's insurance, and we're planning to roll out more protective services, like waiving fees for minor scratches, to give our customers complete peace of mind."
(By Ding Qianqian, Qingdao Daily/Guanhai News)
Editor: Yuan Ruichen
