P2P Marketplaces : Retail

In our last post, we explained the basics of the peer-to-peer (P2P) economy. Today’s post will take an in-depth look at how this market design affects the retail industry and the role of dropshipping in the P2P economy.

Los Angeles mom Evelyne Teman made $500,000 dollars in three years from selling clothes on Poshmark. On Depop, Millennial entrepreneur Bella McFaden(depop username: @InternetGirl) withdrew from College to sell on Depop full time. Like Teman and McFaden, many individuals today use P2P fashion platforms such as Poshmark and Depop as mechanism to get rid of unwanted clothing and as an alternative way to make a living.

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P2P Marketplaces: An Introduction

A new economy has emerged where individuals want to share resources with each other. For example, people are investing in projects on Kickstarter, renting clothing instead of owning it on Rent-the-Runway and borrowing cars through Zipcar. We want to own less and experience more. This has spurned the rapid growth of peer-to-peer (P2P) economies in the past five years. According to a Pew report in 2016, 72% of Americans have used a P2P service. P2P economies have emerged across numerous sectors including transportation (Uber), hospitality (Airbnb), finance (Kiva), and retail (eBay). If you look at the fashion and apparel sector, you see a huge change in behavior.

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