Fashionistas in 2020 aren’t going to obsess over owning the trendiest clothes. They’ll be more interested in having access to them. “The world of fashion rests upon a myth,” says Jennifer Hyman, co-founder and chief executive officer of Rent the Runway. “It does not work unless it convinces you, as the consumer, to buy more
Total cost of ownership (TCO) was popularized by Gartner in the 1980s. The basic idea is that the value derived from a product involves more resources than what you pay the supplier. Take the modern-day smartphone. Why do you have one? Presumably to communicate, but there are many other uses it plays in your life,