With platforms for renting, reselling, and partial ownership, brands can no longer ignore the trend of personal goods being treated as assets.
The Uber effect is starting to trickle down to more personal goods.
With consumers valuing experiences over possessions, a rising number of goods categories — clothes, furniture, jewelry — are becoming available for rent or resell, or even split into shares that can be traded.
That’s what we call the assetization of the economy: personal goods being treated as assets.
This is a trend that brands can no longer ignore.
Evidence #1: News chatter about rental platforms for clothing and furniture has increased in recent years, fueled by the rise of rental startups such as Rent the Runway and initiatives by established companies such as IKEA.
Evidence #2: At the same time, the resale channel has been on the rise, making it easier for goods such as sneakers or handbags to change hands multiple times before eventually being recycled or destroyed.
The global luxury goods resale market, for example, is expected to reach $51B by 2024, according to CB Insights’ industry analyst consensus....MORE