We generally take for granted the thrifty price tags attached to cheap, mass-produced fashion. Unfortunately its often the dubious production processes (be it where the material came from, where it was made or more importantly, how much everyone was paid along the way) that allow for prices to be as they are. Transparency in fashion is translucent at the best of times, but there are undoubtedly efforts being made to clean up the industry’s act.

However, when the product is premium and locally made, pricing is a different matter. Theorum is a new e-commerce company that has created a platform for merchants to negotiate the price of items and sell them to consumers, creating an alternate transparency. The site lets consumers name their own price on any given product, compiles the valuations, and presents the data on a dashboard for the merchant. The merchant can then use that system to establish the ideal price point, and accept the offers of anyone offering a certain price or more for a product (offers can’t go below 50% of the list price).

Consumer participation is becoming increasingly integrated in new business models. Recently students at Central Saint Martin’s College lowered the price of the products in their pop-up shop every time Worth? was shared on social media.