Why Wardrobe Sharing Platforms are Dangerous to Luxury Brands
Wardrobe sharing apps are the latest global hype. Despite a robust appetite for P2P apps, concern is growing over the long-term impact on the luxury market.
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- 1. The sharing economy is sabotaging craftsmanship and the artisan-made production
- 2.
- Quality issues
- 3. Consumers associate luxury with ownership, not with access
- 4. Conspicuous consumption won’t disappear
- 5. The death of shopping gratification
- 6. Risk of counterfeit luxury goods
- 7. Dumping a higher stock of merchandise on the market does not increase the perceived value of the brand
- 8.
- Privacy concerns
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