Day 3: Retail Disruption And The Future Of eCommerce
Thursday, August 22nd, 2019
Back in 2011, Time Inc. predicted that “Collaborative Consumption” – better known as “The Sharing Economy” – would be one of the “10 Ideas That Will Change the World”. Companies like Napster and Zipcar proved the model in the early days and paved the way for tech giants like Spotify, Uber and Airbnb, just to name a few. What these companies have in common is a business model that efficiently matches supply and demand without ever having the need to own physical inventory of the products they are selling.
Farfetch has brought a similar marketplace model to the global luxury fashion industry, uniting a rich community of brands (creators), boutiques (curators) and buyers (consumers) to rapidly scale in our first decade as a business. This case study will highlight the benefits of the “collaborative commerce” business model as applied to the fashion industry.