New Value Economy

THE NEW VALUE ECONOMY

The new value economy is the ownership of what is ideal and a way of valuing something. An ideal share, rent and borrow of products instead of purchasing therefore companies have to be careful of reputation as a product. 

Diane Von Furstenburg on the Catwalk Spring/Summer 2013 Merc-Benz Fashion Week

Technology uses the idea that this new system of value and worth is in process that people are always online. The gap between being at home and being at work is very small, you are almost always expected to work and this is influence by the mobile phone/smart phones.

Company are beginning to take advantage of this and are creating online websites and web magazines in a way of communicating with consumers, shopping online is more easier for the full time worker and its easily accessible by the press of a button.

 New rating systems are encouraging consumers to trust each other more then companies providers of goods and service. Brands need to be more human, which means going beyond transparency demands of social media platforms this is were the new value economy is exaggerating the working strategies of sharing economy apps and services. 

Visual web platforms and changing the way consumers interact with these goods and have been speeding up their relationship with fashion, this is were customers are valuing access of ownership. The new value economy is simply making the best product and no longer guarantee success in the marketplace. 

Instead they need to involved themselves to maintain a relationship and mutual trust with the consumers, in the future as a larger business they are looking to expand and adopt a caring attitude. 

Victoria Beckham New Collection in the Fashion Industry

Established business and starting up ones may clash as using sharing customers is a test for the brand/company. It is important to restore trust between the customer and brand because there is always room for development.