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Counsel - Collaborative Consumption
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Counsel - Collaborative Consumption

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  • 1. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSCollaborative Consumption:Collective economic models February 2011
  • 2. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSCollaborative Consumption is asocio-economic movement thatcontinues to transform the way weconsume, value and interact withbrands.
  • 3. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSDrivers- Fallout from Global Recession: Price sensitive and super-informed consumers- Rising Cost of Living : Rising food and energy prices- Social Networking: Desire to be connected- Us Vs. Them Consumers set the agenda- Shift in the balance of power from organisations to people- Lifestyle Downsizing Burden of ownership- Growing Belief That Less is More: Dematerialized living- Desire for Sustainability: Frustration with waste
  • 4. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSDriversThe rise of Collaborative Consumption reflects the current and ongoinginfluence of the previous Counsel Future Signs.Power of Many - 2006Less is More - 2007Barter Society - 2008The New Restraint - 2009
  • 5. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSThe Emergence of New Models for ConsumptionPEOPLE ARE MOVING AWAY FROM THE OLD TOP-HEAVY, CENTRALIZED, ANDCONTROLLED FORMS OF CONSUMERISM TOWARDS SHARING, AGGREGATION,OPENNESS, AND COOPERATION.[1]
  • 6. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERS Changing Perceptions and Associations URBANITES ARE REALISING THAT CAR OWNERSHIP IS EXPENSIVE AND WASTEFUL, AND NOW HAS A NEGATIVE ASSOCIATION AMONGST THEIR PEERS. SHARED OR PARTIAL OWNERSHIP OF CARS IS SEEN AS ENVIRONMENTALLY SENSITIVE AND A COMMON SENSE APPROACH. THIS SHIFT IS SIGNIFICANT: NO LONGER IS RENTING OR HIRING PRODUCTS ASSOCIATED WITH LIMITED FINANCIAL CAPABILITY, BUT AS BEING SMART AND EFFICIENT. “I started to notice instead of friends bragging about their new Prius, they boasted how they had given up their cars altogether by becoming “Zipsters” (members of the car-sharing service Zipcar).” [2] – Rachel Botsman, Co-author of ‘Whats Mine Is Yours’.[3] [4]
  • 7. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSUnderstanding the Psychology of Social ShoppingRECENT BEHAVIOURAL ECONOMICS RESEARCH CHALLENGES MANY TRADITIONALLY HELDVIEWS.THERE IS A GREATER ACKNOWLEDGEMENT OF THE NON-RATIONAL MOTIVATIONS OFSHOPPERS.THERE IS A GROWING ACCEPTANCE OF THE IMPORTANCE OF THE SOCIAL ASPECT OFCONSUMPTION. SHOPPING IS NOT JUST ABOUT CONSUMING BUT ALSO ABOUT PERSONALIDENTITY AND MANAGING OUR PUBLIC IMAGE.
  • 8. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSRethinking Consumption & OwnershipBRANDS WILL NEED TO RETHINK THE WAY THEY MARKET AND SELL PRODUCTS AS MORE PEOPLE ACCEPTTHAT CONSUMPTION AND OWNERSHIP WILL LIKELY MEAN DIFFERENT THINGS IN THE FUTURE.THE COMMON THREAD OF MANY OF THE NEW SHARED OWNERSHIP SCHEMES IS THAT ‘ACCESS TRUMPSOWNERSHIP’.THE GROWING IMPORTANCE OF THE ONLINE WORLD, VIRTUAL LIVES AND POSSESSIONS (CLOUDLIFESTYLES) AND THE IMPLICATIONS FOR HOW WE CONSUME WILL BE FAR REACHING.WITH THE GROWTH OF ALTERNATIVE PURCHASE AND OWNERSHIP COMES THE INEVITABLE QUESTION –‘WHY DO WE NEED TO BUY SOMETHING OUTRIGHT AT ALL?’.PEOPLE ARE GROWING IMPATIENT WITH “IDLE CAPACITY” (IE, WASTE).“Sharing is clean, crisp, urbane, postmodern.” [5] - Mark Levine, Writer for New York Times.
  • 9. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSImplications
  • 10. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERS Transforming Revenue Models WHAT IS ASTONISHING IS HOW QUICKLY THE INFLUENCE OF THIS SHIFT IS BEING FELT ACROSS DIFFERENT CATEGORIES. WITHIN THE AUTO INDUSTRY – COLLABORATIVE CONSUMPTIONS IS OFFERING A NEW BUSINESS MODEL – IN TUNE WITH THE MINDSET OF THE POST RECESSION, ECO-CONSCIOUS URBAN CONSUMER. “Frost & Sullivan, a market-research firm, estimates that by 2016 the (car sharing) market will be worth $6 billion a year.” [6] - Print Edition, The Economist. [7][8]
  • 11. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSBig Ticket PurchasesWITH THE AUTO INDUSTRY ALREADY EMBRACING COLLABORATIVE CONSUMPTION, WILL BIGHOME APPLIANCES AND REAL ESTATE BE NEXT TO ADOPT THE CONCEPT OF SHARED OR PARTOWNERSHIP?“Think about it, you buy everything else at 10-30% off - clothes, electronics, travel, etc. Why not real estate?Sure real estate is a more complex purchase, but conceptually. Why not?.” [9] - The Fourth Row
  • 12. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSSocial BuyingAS GROUPS ARE FORMED TO MAKE DISCOUNTED PURCHASES, RETAILERS NEED TO ENSURETHEY ARE BOTH RECEPTIVE TO AND CAPITALISE ON THIS NEW SHOPPING APPROACH.FACEBOOK’S ‘BUY WITH FRIENDS’ FEATURE – ALLOWING USERS TO ‘UNLOCK’ A DEAL ANDTHEN SHARE THAT SAME DEAL OR DISCOUNT WITH FRIENDS IS ALREADY GAINING TRACTION.ALTHOUGH ‘BUY WITH FRIENDS’ IS CURRENTLY RESTRICTED TO VIRTUAL GOODS, THISFEATURE IS SOON TO BE EXPANDED TO INCLUDE PHYSICAL GOODS AND CHARITABLEDONATIONS. [10]
  • 13. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERS Group Buying OPPORTUNITIES FOR GROUP BUYING CONTINUE TO EXPAND AND EVOLVE INTO MORE CATEGORIES. ONLINE GROUP PAYMENT PLATFORM - WEPAY IS A PAYMENT SYSTEM THAT ENABLES GROUPS OF USERS TO SET UP SHARED FINANCIAL ACCOUNTS WITH VARYING LEVELS OF ACCESS, GIVING THEM A WAY TO MANAGE GROUP PAYMENTS AND FINANCES. EBAY GROUPGIFTS (ENCOURAGING COLLABORATION) ALLOWS CUSTOMERS TO SHARE EXPENSES ON A GIFT (FROM EBAY) A REFLECTION OF CONSUMERS’ CHANGING BEHAVIORS. ENCOURAGE PEOPLE TO INTERACT WITH YOUR BRAND, THROUGH THE OFFER OF GROUP DISCOUNTS. [12] [13][11] [14]
  • 14. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERS‘Doing Good’ Through Collective BuyingCERTAIN INDUSTRIES ARE LEADING THE WAY, PARTICULARLY THOSE RECEIVING GOVERNMENTSUBSIDIES, SUCH AS HOME SOLAR ENERGY.COLLECTIVELY BUYING SOLAR POWER – SAN FRANCISCO-BASED COMPANY, 1BOG, OFFERS ASERVICE THROUGH WHICH COMMUNITIES CAN POOL THEIR COLLECTIVE BUYING POWER TOPURCHASE SOLAR ENERGY POWER STORAGE, EQUIPMENT THAT IS TOO EXPENSIVE TOPURCHASE ALONE.EXPECT TO SEE MORE GOVERNMENT COMMUNITY PARTNERSHIPS PARTICULARLY FOR SOCIALAND ENVIRONMENTAL SERVICES AND PRODUCTS.[15]
  • 15. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERS New Collaborative Business Models MORE EVIDENCE THAT COLLABORATIVE FORMS OF CONSUMPTION REPRESENT AN ENGAGING MODEL FOR COMMUNITIES. THE PEOPLE’S SUPERMARKET IS A CO-OP BASED MODEL FOR EFFICIENT AND LOCAL FOOD RETAIL. OWNED AND MANAGED BY ITS MEMBERS. THE PEOPLE’S SUPERMARKET REQUIRES MEMBERS TO WORK IN THE STORE IN RETURN FOR CREDITS. EXPECT TO SEE MORE BUSINESSES OPERATING AS CO-OPERATIVES WITH PROFIT SHARING.[16] [17]
  • 16. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSUtilising Idle Space/ Capacity [23]THE NOTION OF REUSING INDIVIDUALS ‘IDLE’ OR UNUSED SPACE OR ENERGY CAPACITY ISALREADY THE BASIS FOR MANY NEW ONLINE START-UPS.FROM RENTING OUT YOUR SPARE ROOM TO YOUR CAR OR POSSESSIONS.THESE SCHEMES HAVE THE ADDED INCENTIVES OF ENABLING YOU TO MEET NEW PEOPLE ANDGENERATE NEW INCOME. [22] [21]
  • 17. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERS1. Collaborative Consumption, www.collaborativeconsumption.com2. www.swiss-miss.com/2010/09/guest-post-by-rachel-botsman.html3. ZipCar, www.treehugger.com/files/2010/10/nyc-launches-hybrid-zipcar-program-city-eployees.php4. The Peoples Supermarket, www.thepeoplessupermarket.org5. www.nytimes.com/2009/03/08/magazine/08Zipcar-t.html6. www.economist.com/node/169452327. BMW Car Sharing, www.psfk.com/2011/01/car-sharing-programs-initiated-by-mercedes-and-bmw.html8. Peugeot - MU, www.mu.peugeot.co.uk/9. The Fourth Row, www.antworks.co.uk/4throw/concept.htm10. Living Social, US, www.livingsocial.com/about11. WePay, www.wepay.com/12. Ebay Group Gifts, eBay Inc. www.groupgifts.ebay.com13. Buy With Me, www.buywithme.com/chicago/deals/3621-southport-blooms14. Funshare, Hong Kong, www.funshare.com/tc/todaysdeal/hongkong15. 1BOG, www.1bog.org/16. The Peoples Supermarket, www.flickr.com/photos/mermaid99/5213863807/in/pool-1457147@N2317. The Peoples Supermarket, www.flickr.com/photos/mermaid99/4687678718/in/pool-1457147@N23
  • 18. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERS18. ThisNext, www.thisnext.com/19. ViewPoints, www.viewpoints.com20. Milo, www.milo.com21. Crash Padder, www.crashpadder.com22. Whip Car, www.whipcar.com23. HomeAway, www.homeaway.com
  • 19. COLLABORATIVE CONSUMPTION FUTURE SIGNS LOWE COUNSEL LOWE AND PARTNERSTHIS PRESENTATION IS MADE TO YOU STRICTLY ON THE FOLLOWING UNDERSTANDINGS:ALL RIGHTS ARE RESERVED TO LOWE COUNSEL. NO PART OF THIS PRESENTATION MAY BEREPRODUCED, STORED IN A RETRIEVAL SYSTEM, OR TRANSMITTED, IN ANY FORM OR BYANY MEANS, WITHOUT THE PRIOR PERMISSION IN WRITING OF LOWE COUNSEL.THIS PRESENTATION CONTAINS MATERIAL WHICH IS OF A CONFIDENTIAL NATURE WHICHIS PROPERTY OF LOWE COUNSEL AND YOU WILL NOT DIVULGE ANY OF THE CONTENTS TOANY PERSON OTHER THAN TO YOUR EMPLOYEES OR ADVISERS WHO ARE REQUIRED ASA MATTER OF NECESSITY IN THE COURSE OF THEIR DUTIES TO RECEIVE AND CONSIDERTHE SAME FOR THE PURPOSES OF EVALUATING LOWE COUNSEL, ITS PRESENTATION ANDANY RELATED PROPOSALS AND THEY WILL BE INFORMED BY YOU OF THE CONFIDENTIALNATURE OF THE MATERIAL.YOU WILL NOT USE OR EXPLOIT ANY OF THE CONTENTS OF THIS PRESENTATION FOR ANYPURPOSE OTHER THAN TO EVALUATE LOWE COUNSEL, ITS PRESENTATION AND ANYRELATED PROPOSALS AND IN PARTICULAR ANY DESIGNS, IDEAS OR CONCEPTS PUTFORWARD BY LOWE COUNSEL MAY NOT BE USED BY YOU AS PART OF ANY SUBSEQUENTADVERTISING CAMPAIGN WITHOUT THE EXPRESS WRITTEN CONSENT OF THE LOWECOUNSEL.

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