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E-commerce brands Vestiaire Collective, Sponge, Kotur and Bydeau prove on-demand model works in Hong Kong

we save money by not throwing away unsold inventory Jennifer Margolin, founder, flower and gift delivery service, Bydeau “We do not have a physical retail store,” Margolin says. “The flowers and gifts we offer are a curated selection and are always on-trend and in-season. “By not having a physical shop and offering limited but seasonal options, it helps us to be more thoughtful with our inventory. “We do not need to order a bunch of flowers and gifts to fill a retail location and hope they sell.” She says: “By not having a physical location and by using data to order inventory, we can cut down on wastage – which is eco-friendly – and we save money by not throwing away unsold inventory.” We wanted to tap into the convenience of being able to buy or sell from anywhere in the world, at any time, and gather a global audience of fashion addicts Fanny Moizant, co-founder, luxury fashion reseller Vestiaire Collective We have also become increasingly used to getting things now – and from anywhere in the world. We click on a website and within a few milliseconds we have access to information, products and services that someone 10 years ago could not have imagined having access to. The increasing demand for convenience has pushed companies to rethink their business models and mould them to our fast-paced lives. “Millennials are an important group for all Hong Kong businesses to target and it is no surprise that technology plays an important role in their lives,” says Fanny Moizant, co-founder of the pre-owned fashion reseller, Vestiaire Collective. “We live in a connected world and the millennials are really fuelling this need and desire for us to stay connected 24/7. “So Hong Kong businesses are definitely capitalising on this trend in any way possible.” Vestiaire Collective’s online global marketplace for premium and luxury pre-owned fashion items has seven million members. It makes shopping easy through a personalised and streamlined process that is accessible anywhere in the world.

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