CONDO ARCHIVES

Sharing Economy goes Mainstream

August 2019

The Sharing Economy is no longer limited to home-based businesses and associations focused on socialization or community.

Large commercial retailers are experimenting with how a Sharing Economy focus brings consumers to retail businesses.

DSW, a large shoe retailer, is considering shoe rentals.  The intent is to bring customers back to the store more frequently and encourage shoe purchases after renting shoes for special events.  Nordstrom operates a merchandise-free store that includes hair stylists, bartenders, manicurists and tailors.  Some Apple stores now include boardrooms and outdoor areas.

Rent the Runway, a $100-million business offering dresses, gowns, jewelry and other items for short-term wearing, is proof that a Sharing Economy business can be successful.  Bag, Borrow and Steal rents designer handbags.