From homes to music to cars, millennials have the tendency to rent instead of buy which is effecting the traditional retail industry. According to Business Insider, millennials have less of a need to own and with sharing/renting services such as ZipCar (NASDAQ: CAR), Airbnb and even Spotify, they do not see the need to. Troubled with student loan debt and the effects of the Great Recession, these 18- to 24-year-olds rent apartments rather than buy houses and as a result have less room for stuff, which is also effecting retailers. This renting trend is spreading to apparel retailers as well, with services like Rent the Runway threatening normal retailers’ business. However, some traditional retailers are adapting to this change. Among them is clothing retailer Patagonia, who according to Business Insider, recently launched a part of its website to where customers can resell and swap the brands products. For more business and financial news, click here.