Today In Data

Taking On Sharing Economy Trust, Luxury Retail Evolution With Innovation

Sharing economy platforms have become a force to be reckoned with, as a sizeable number of consumers use them to make their lives easier. The segment, however, attracts scammers – but technology is becoming better at detecting fraud. And in retail, luxury and upscale commerce is undergoing significant changes as holiday shopping kicks off and a new decade nears. All this, Today in Data.

Data:

320,000 sq. ft.: Size of Nordstrom’s new Manhattan store.

111M: Approximate number of consumers who use a sharing economy platform.

75: Number of distinguished houses of LVMH.

26.2 percent: Portion of sharing economy platforms that require new users to submit ID documents online.

$16.2B: Amount for which LVMH agreed to purchase Tiffany & Co.

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