Social and cultural poverty is tightly linked to economic poverty. The U.S. Small Business Administration estimates that smaller retailers drive 44 percent of the economy. Allowing them to fail, writes Retail Dive, “would be a blow to the country’s general welfare.” The big, mass, and vertically integrated retailers are undoubtedly hurting. They st... See more

Like everything else, this concept is being tested brutally by the Covid-19 pandemic. Rent the Runway, the fashion rental service, has had to rethink its plans as fewer Americans commute to offices or attend fancy events. Joymode, which rented out thousands of products, from electronics to margarita machines, closed. Uber rides — which were suppose... See more

Meanwhile, the more recent rise of social media — plus digital publishing and the continued growth of e-commerce — has given brands strong incentives and tools to build direct relationships with their clientele, skipping the retail middlemen and keeping the rest of their margin.