The Sharing Economy

The sharing economy is the interaction between multiple individuals trading products, services or information. In 2030, many companies haven’t changed since 2020. However, our company is presenting an alternative model that allows businesses to shift into being a platform that supplies to consumers directly rather than being a middleman. Our luxury fashion brand encourages customers to communicate amongst themselves to add value to our products. Being a luxury brand, our company has improved on keeping pricing of our apparel low, practices sustainable work-life balance of our employees and adopted the use of bitcoin as a form of payment. 

Due to the minimised parties involved in the process of consuming goods and services in the sharing economy, we have the ability to cut out labour and rent costs out of the prices of our apparel. By moving our physical stores virtually, the consumers directly pay for only the quality of leather goods and not physical sale representative service they would typically get at the boutique. As Weber, 2016, states that the introduction of the sharing economy increases consumer surplus as well as social welfare. It is the enabling of electronic platforms that links consumers with their collaborative consumption that makes up a successful sharing economy.

Shifting towards a sharing economy has enabled our employees to work under flexible schedules, maintain a better work life balance and gain a variety of experience with different industries. There are various benefits to facilitating this work culture such as allowing individuals to have several streams of income, creating a network community, and enabling maximum efficiency in productivity. The peer to peer model has been beneficial for our company as it allows the brand to build better relationships with our clients as well as our employees. The sharing economy is beneficial for our brand because it enables us to be more exclusive in a localized market.

Moving on to how we keep our brand luxurious, prestigious and unique. We have successfully adopted the use of bitcoin as a form of payment. The increased use and popularity of bitcoin currency amongst our clients have created a demand for bitcoin to be used as a form of payment. By satisfying this demand, our clients are able to send, and we are able to receive payments from anyone around the world on the network without approval.

Our prestigious luxury brand, DE Label, strives on keeping the price of our apparel low, facilitating a sustainable work-life balance for our employees and the adoption of bitcoin as a form of payment.