I’m a huge fan of what Threadless stands for. They were in on the crowdsourcing game from the very start and ensured that the tees they produced had an audience ready to buy them. Fast forward, and other breakthrough fashion brands are ready to follow their lead.

Inc. Magazine recently published an article showing how Modcloth, an online clothing retailer, has tasked consumers with choosing the fashions they’d love to see on the site. This, quite frankly, makes everyone happy. Customers get the gear they want, and ModCloth benefits from taking the guesswork out of buying and creating an even more loyal fanbase.

Mass retailers could take a cue from this and build deeper community by inviting consumers to participate in the buying process through voting, commenting, sharing and demanding a specific product. While sites like Polyvore do a great job of allowing consumers to create and share a look, a deeper level of demand and exclusivity could be achieved. Why not let fashionistas reserve an item before it hits shelves (or screens) and receive a group discount for doing so?

By creating a group savings structure similiar to Groupon.com,  retailers could project inventory needs, thus eliminating a surplus and obligatory price slashing at the end of the season. Those who agreed to buy the product upfront win too, thanks to a savings perk.

The force and immediacy of social media could only amplify demand further through the sharing and voting elements. It would allow both brands and retailers to see if an item was trending high before it was produced or ordered. Who knows? Maybe there actually IS an audience for Duct Taped Prom dresses.

In yet another chapter of recession-morphed retail, Rent the Runway is proving you’re either in or out…of the mailbox, that is. For most people, $3,000 couture dresses are simply out of the budget. Rent the Runway is striving to change that by offering high-end, in-season fashions as easily accessible as your Netflix queue. A bold new twist on Cinderella’s fairy godmother, that priceless Proenza Schouler gown can now arrive just in time for the ball directly to your front door! The $50-$200 price tag includes a return envelope and dry cleaning is even included.

Time will ultimately tell how the newbie service pans out. The New York Times reported on some of the potential shortfalls, namely keeping up-to-date with the current fashions. (Is that last season? The HORROR!) But ultimately, I think this is a sweet valuable service for chicas who want to live like a frugalista princess until the stroke of midnight…or until the UPS guy shows up, I guess.