CLOSETBOBAGS

ClosetBoBags is a rental platform that allows Brazilian women to monetize their items while accessing a curated dream closet in the cloud The traditional economic model functions upon the allocation of scarce resources, and supply and demand are intimately linked to scarcity and desire. The scarcity paradigm needed to be challenged and we decided to replace it with the access paradigm. ClosetBoBAGS is a platform for renting and buying carefully curated fashion items having technology and car... eful customer service as two fundamental pillars. Today, the platform works as a closet in the cloud for more than 150 thousand people. ClosetBoBAGS’ business model promotes large-scale positive socio-environmental impact, reducing the amount of item returns, trash, and pollution that are associated with the production of new items, that, in general, have high levels of idleness. Studies demonstrate that people around the world fail to use at least 50% of what they have in their closets. At ClosetBoBAGS, 100% of the items are actively used and on average 70% of our items is on our customers’ hands every month. The decision to use the rental platform to test products also optimizes each item’s use. There are countless numbers of clients that rent a bag for test driving it before making the decision to buy it (inserir quote goyard). This makes for a more accurate and efficient form of consumption. The economic impact of this work is directly linked to the social and environmental impacts. First because spending less is a great motivation for behavior change (colocar link). The possibility of having access to an item that in many cases is of superior quality of what would have been purchased, is a strong argument for onboarding clients – especially for newer generations that favor intelligent consumption over possession (colocar link) Secondly because that are tangible benefits for clients that embarked on the circular economy: • BoBAGS is a source of income for clients that put their items on our marketplace. A purse that was sitting idle at home and that is now shared with other people through BoBAGS generates a monthly income stream to its owner who, by the way, doesn’t cease to posses the item and can sell it if opportunity arises. Another benefit of this managed marketplace is the careful maintenance that we provide to the items. There are clients of BoBAGS’ marketplace that have already accumulated financial returns of more than 100 thousand Brazilian Reais. • The reward for sharing items goes beyond the pride of having invested intelligently. There is a deeper, philosophical, connection to seeing that item, that could be stored idly in one’s closet, being shared with 12, 15, or 20 other people (colocar link) On the other end of the spectrum, renting creates purchasing power. By spending much less to rent than to buy, our clients create space int heir budgets. In 2018, ClosetBoBags created more than 20 million Brazilian Reais of such space so that people could spend in experiences connected to their wellbeing, while, at the same time, accessing the items they wished to. In 2019 we hope that this number exceeds 70 million Brazilian Reais, taking into account the number of transactions, average value, and cross-referncing that with the acquisition cost of new items.More