We want to start by asking you a question.
What is the price of a t-shirt?
Well, you could visit you're local clothing store to get the answer to that question. But the answer is going to vary greatly depending on which clothing store you go to. Naturally, a high end boutique will charge more than a big box retailer. Furthermore, the price may depend on where in the world you are. The price of a t-shirt in Portland, Oregon may be wildly different than the price of the same shirt in Tokyo. The price will vary based on the season, cost of gasoline, cost of cotton futures, demand, market research, the list goes on and on. The price will even vary from person to person, the price may be quite low for the person who hates the color and has a wardrobe full of t-shirts, but may be quite high for the person stuck in a heatwave with only a wool sweater.
Despite the simplicity of the question, the truth is, there is no one answer. That single t-shirt has a different value to every person on the planet. The t-shirt's price is simply an amalgamation of everyone’s views, a sort of average, if you will.
If you have ever heard the term “it is what the market will pay” or “that is the market price” the above is essentially what they are talking about. The market isn’t a real place, and the market price isn’t a real price, until now.
LBO is that marketplace, and the prices on our site reflect the collective offers of consumers the world over.
We do this by changing the binary "dictate price" / "purchase" transaction that exists between creators and consumers, and transform it into a relationship that empowers conusmers, while doing more to support creators.
When you shop at LBO, not only are you saving money and supporting the creators you love, you are becoming a part of a massive econoimc experiment that spans the globe. One that seeks to reduce prices, empower consumers, and bring more goods to more people all around the world.
Thank you so much for visiting our site, and we look forward to embarking on this new chapter of e-commerce together with you.
-The LBO Team