The Rise of Collaborative Consumption in Today's Economy
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Chapter Eleven
The Rise of Collaborative Consumption and the Sharing
Economy
By Bill Barnes and Greg Hill
How are
traditional and
collaborative
consumption
different?
•
In small groups, compare and contrast the
following, based on the unique consumer
benefits each provides:
•
Hertz vs Uber vs Zipcar
•
Redbox vs Netflix vs in-theater movie
•
Kickstarter vs money from venture
capitalist or friends/family
•
AirBnB vs Marriott
•
eBay vs Craigslist vs Buffalo Exchange
(thrift store in Portland, OR)
Definitions
s
•
Collaborative Consumption
: Systems that
reinvent traditional market behaviors —
renting, lending, swapping, sharing, bartering,
gifting — in ways and on a scale not possible
before the internet.
•
Sharing Economy
: Systems that facilitate the
sharing of underused assets or services, for
free or for a fee, directly between individuals
or organizations.
•
The sharing economy is estimated to grow
from $14 billion in 2014 to $335 billion by
2025. This estimate is based on the rapid
growth of Uber and Airbnb as indicative.
Collaborative
Consumption
•
Product-service systems
: Easy access to the benefit of a product (the
service) is provided through peer-to-peer or business to consumer
marketplaces.
•
Redistribution markets
: Underutilized, pre-owned goods are redistributed.
•
Collaborative lifestyles
:
Non product assets like space, skills, and money are
exchanged in new ways.
Examples of
Increased
Efficiency
•
Product-service systems
“Half of U.S. households own power drills, but
most are used for only 6 to 13 minutes during
their lifetime. Zilok.com offers peer-to-peer daily
rental of tools…”
•
Redistribution markets
Americans discard 7 million tons of cardboard
annually. UsedCardboardBoxes.com “rescues”
and resells boxes to movers.”
•
Collaborative lifestyles
“Millions of houses and spare rooms around the
world are sitting empty and have “idling
capacity”. AirBnB.com, the “Match.com for
travel,” allows anyone from private residents to
commercial property owners to rent out their
extra space.”
Examples of the Peer-to-
Peer Sharing Economy
ECONOMIC SECTORS OF THE SHARING ECONOMY
Sectors of activity
Examples of businesses/platforms
Transport
Uber, Lyft, BlaBlaCar, Click&Boat
Tourism and hotel industry
Airbnb, CouchSurfing, HomeExchange
Food
ShareTheMeal
Financial sector
KickStarter, Funding Circle
Services
TaskRabbit, WeTasker
Market forces driving the collaborative economy
Explore the evolution of consumer behavior with a focus on collaborative consumption and the sharing economy. Understand the unique benefits offered by platforms like Uber, Airbnb, and Kickstarter compared to traditional services. Learn how collaborative consumption is reshaping market behaviors and fostering a culture of sharing and efficiency.
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Presentation Transcript
Essentials of Consumer Behavior, 2 Essentials of Consumer Behavior, 2nd ndEd. Ed. Debra Stephens Debra Stephens Chapter Eleven The Rise of Collaborative Consumption and the Sharing Economy By Bill Barnes and Greg Hill
In small groups, compare and contrast the following, based on the unique consumer benefits each provides: Hertz vs Uber vs Zipcar Redbox vs Netflix vs in-theater movie Kickstarter vs money from venture capitalist or friends/family AirBnB vs Marriott eBay vs Craigslist vs Buffalo Exchange (thrift store in Portland, OR) How are traditional and collaborative consumption different?
Collaborative Consumption: Systems that reinvent traditional market behaviors renting, lending, swapping, sharing, bartering, gifting in ways and on a scale not possible before the internet. Sharing Economy: Systems that facilitate the sharing of underused assets or services, for free or for a fee, directly between individuals or organizations. Definitions s The sharing economy is estimated to grow from $14 billion in 2014 to $335 billion by 2025. This estimate is based on the rapid growth of Uber and Airbnb as indicative.
Collaborative Consumption Product-service systems: Easy access to the benefit of a product (the service) is provided through peer-to-peer or business to consumer marketplaces. Redistribution markets: Underutilized, pre-owned goods are redistributed. Collaborative lifestyles: Non product assets like space, skills, and money are exchanged in new ways.
Product-service systems Half of U.S. households own power drills, but most are used for only 6 to 13 minutes during their lifetime. Zilok.com offers peer-to-peer daily rental of tools Redistribution markets Examples of Increased Efficiency Americans discard 7 million tons of cardboard annually. UsedCardboardBoxes.com rescues and resells boxes to movers. Collaborative lifestyles Millions of houses and spare rooms around the world are sitting empty and have idling capacity . AirBnB.com, the Match.com for travel, allows anyone from private residents to commercial property owners to rent out their extra space.
Examples of the Peer-to- Peer Sharing Economy ECONOMIC SECTORS OF THE SHARING ECONOMY Sectors of activity Examples of businesses/platforms Transport Uber, Lyft, BlaBlaCar, Click&Boat Tourism and hotel industry Airbnb, CouchSurfing, HomeExchange Food ShareTheMeal Financial sector KickStarter, Funding Circle Services TaskRabbit, WeTasker
