H&M Mitte Garten Store has teamed up with the world's leading circular fashion ecosystem, 'lablaco,' to launch an all-new blockchain-based IoT clothing rental service. Powered by 'SPIN' -- lablaco's circular fashion platform -- the new service aims to explore new digitized modes of sustainable fashion retail.
Customers shopping at the Berlin-based H&M Mitte Garten store will have the opportunity to scan select rentable items with their smartphones, which will provide them with details regarding the product's journey via blockchain. Once rented, they will be able to add "memories and stories" to the garments blockchain ledger by uploading their own unique looks.
The new activation intends to support circular fashion initiatives. As a result, all of the items included in the service can only be booked for a certain amount of time before being returned, cleaned, and secured by another customer.
Blockchain-Based Fashion Rentals
H&M Mitte Garten and lablaco Launch IoT Clothing Rental Service
Trend Themes
1. Iot Clothing Rental - Businesses can implement blockchain-based IoT clothing rental services to test the disruptive potential of the circular fashion business model.
2. Digitized Sustainable Fashion Retail - The digitization of fashion retail can help organizations deliver a conscious and sustainable shopping experience for their customers, while also encouraging a circular economy.
3. Customer-driven Fashion Journey - Fashion brands can leverage blockchain to create customer-driven fashion journeys where every garment tells a story, allowing customers to capture their unique fashion memories and contribute to circular initiatives.
Industry Implications
1. Fashion Retail - Fashion retailers should consider incorporating circular initiatives into their business models to stay competitive and cater to the growing climate-conscious consumer market.
2. Blockchain-based Solutions - Blockchain-based solutions can offer transparency and traceability throughout supply chains, helping organizations to drive sustainability, ethical sourcing practices, and customer trust.
3. Iot and Wearable Technology - The integration of IoT and wearable technology can create new customer experiences in retail and personalized services by extending the digital experience from the store to the garment.