The sharing economy is spreading into other areas of business if you haven't already noticed. 

So, is the "sharing economy" a threat to retail?

This article in RetailDive highlights that anything can be shared, rented, traded, etc, and there are more people participating than you might think. In short, brands need to pay attention.

We agree that there is definitely a HUGE opportunity in the collaborative economy for brand, as demonstrated by secondhand markets like eBay and Craigslist. Think about it, used, quality items are resold across the internet every second.

So what are brands doing?

Have you heard of Enterprise Carshare? The Workplace On-Demand by Marriott, Patagonia Common Threads Partnership with eBay or the Ikea Virtual Flea Market?

Brands are using marketplaces and community to connect with customers.The sharing economy is not actually a threat to retail because the retail industry has been aware of these trends from the start.  

So, why aren't more brands creating their own branded marketplace where they can monitor the interactions, gain insights and provide their loyal customers with a trustyworthy reselling option? 

Why hasn't your favorite brand created their own version of ThredUp?

Well, we think it's just a matter of time. Stay tuned.

If you're a brand, check out Crowd Companies and let us know if you need a branded marketplace. We got you covered. 

Read the source article at Retail News and Trends