Business Planning & Execution of Online Dress Renting Service

Abstract

A shift can be noticed in consumer values from ownership to access in current times. Network technologies are enabling whole of communities around the world to achieve more with very less by swapping, gifting, lending money and sharing products on a scale never been possible before. It appears as though the barter system is returning. This paradigm shift is also transforming business, consumerism and the way people live for a more sustainable and fulfilling life. Between ownership and gifting, a hybrid model of market has emerged, referred to as “sharing economy”. Coordinated using the online services, a peer to peer based system allows sharing of goods and services. There are three main factors driving the sharing of resources across a variety of services and goods. First, a host of information technologies have appeared in the mainstream making it possible for people, networks and organizations to transact as well as find solutions directly. Consumers are now quite easily linked to one another. Second, consumer behavior changes to sharing for many things they wanted to own once. Third, the mobile devices remove the hassle of using the online services for shared resources, for example, apps on the smart phones come in handy. With the growth in sharing economy, the Forbes had forecasted that the revenue flow from shared economy will exceed 4 billion dollars in 2016.