Collaborative Consumption - Share What You Wear (public speaker) (Matt Britton) (millennials)

Another huge trend is called collaborative consumption or the sharing economy, which is a notion that many products in categories that people would never think would be shared in the past are being shared. This is Rent the Runway. Rent the Runway allows a woman to rent that dress for $75, which would normally cost 1200 to buy and return it the next day. Once you actually post yourself wearing a dress on Instagram, you can never wear it again, which is insight that I'm hearing from the other gender. This incredible model because it allows you to spend those savings on experiences sharing high end luxury clothing. This company's nearing a billion dollars in valuation and now is a men's watch club where you can actually get a new high end men's watch every month without owning it. You're sharing your music, you're not buying your music using Spotify. So we're seeing many platforms actually turning to a sharing environment versus an owning environment.