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Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
Inspiring Route - Sharing Economy & Collaborative Consumption
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Inspiring Route - Sharing Economy & Collaborative Consumption

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Sharing Economy is a set of practices and models that, through technology and community, allows individuals and companies to share access to products, services and experiences. …

Sharing Economy is a set of practices and models that, through technology and community, allows individuals and companies to share access to products, services and experiences.

This report - part of the "Inspiring Route" project - analyses and understands the main themes related to Sharing Economy through stories, examples, numbers, case studies.

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  • 1. SHARING ECONOMY MARKETREVOLUTION.IT @MKTRVLTN INSPIRING ROUTE 11/07/2013
  • 2. WELCOME Thanks for coming SHARING ECONOMY - INSPIRING ROUTE 2
  • 3. @MKTRVLTN #INSPIRINGROUTE
  • 4. Where does this story start? SHARING ECONOMY - INSPIRING ROUTE 4
  • 5. SHARING ECONOMY - INSPIRING ROUTE Let me introduce you this guy... 5 Henry Ford
  • 6. SHARING ECONOMY - INSPIRING ROUTE The first mass-manufactured car The “Model T” (1908) 6 “No man making a good salary will be unable to own one”
  • 7. SHARING ECONOMY - INSPIRING ROUTE I shop therefore I am 3 pillars: Testo slide 7 Ownership Accumulation Substitution
  • 8. An economic model based on Ownership 42th article 5th amendement { } SHARING ECONOMY - INSPIRING ROUTE 8
  • 9. Source: It's lavish bitch, 2013. SHARING ECONOMY - INSPIRING ROUTE 9
  • 10. In the meanwhile, something was changing... SHARING ECONOMY - INSPIRING ROUTE 10
  • 11. The story of Frederic New economic model = new opportunities Frederic Larson, he’s a 63 years old photographer, fired by SF Chronicle. He decided to get the most out of his 2 only resources: his house and his Prius. He rents his home on Airbnb for $100 per night (12 days per month). He turns his Prius into a cab, via Lyft, earning $100 per night (4 nights a week). Just like that he makes $3,000 per month. He’s now seeking for a way to rent out his camera equipment. http://www.linkedin.com/in/mysticalsanfranciscophoto Source: Forbes.com, February 2013. SHARING ECONOMY - INSPIRING ROUTE 11
  • 12. Economic • Economic Crisis • Unemployment • New generations debt load Source: The Collaborative Economy, Altimeter Group, May 2013. Social • Increasing population density • Drive for Sustainability • Desire for Community • Generational Altruism 3 drivers Technology • Internet becomes global • Mobile Devices and platform • Payment systems evolve • Social networking rise SHARING ECONOMY - INSPIRING ROUTE 12
  • 13. What is sharing economy? SHARING ECONOMY - INSPIRING ROUTE 13
  • 14. A set of practices and models that, through technology and community, allows individuals and companies to share access to products, SHARING ECONOMY - INSPIRING ROUTE TITOLO services and experiences. 14
  • 15. Old models reinvented for the future renting, exchanging, sharing SHARING ECONOMY - INSPIRING ROUTE 15
  • 16. “As-a-service” Extract value from the asset we already have, physical or intangible, dividing them into space and time, in order to be “consumed” as a service platforms which allow pricing, meeting and sharing. Source: Fastcompany, April 2011. The Economist, March 2013. SHARING ECONOMY - INSPIRING ROUTE 16
  • 17. SHARING ECONOMY - INSPIRING ROUTE Access 17 Source: Forbes.com, January 2013. “We’re moving from a world where we’re organized around ownership to one organized around access to assets”
  • 18. Who are the “collaborative consumers”? SHARING ECONOMY - INSPIRING ROUTE 18
  • 19. Source: Sunrun, Feb 2013. Millennials The sharing economy’s early adopters They are the new generation of consumers and they are “culturally set up” to borrow, rent and share “They don’t buy newspapers; they grab and disseminate stories a la carte via Facebook and Twitter. They don’t buy DVD sets; they stream shows. They don’t buy CDs; they subscribe to music services such as Spotify or Pandora” SHARING ECONOMY - INSPIRING ROUTE 19
  • 20. House owners 100 80 60 40 20 40% 33% 2007 2011 Millennials The sharing economy’s early adopters 100 80 60 40 20 Car owners 73% 66% 2007 2011 100 80 60 40 20 Credit Cards owners 50% 39% 2001 2010 Source: Sunrun, Feb 2013. - target: under 35 USA - SHARING ECONOMY - INSPIRING ROUTE 20
  • 21. It’s not (only) a child’s play “Collaborative consumption is growing from a trend for the young and urban, to Source: Campbell Mithun, February 2013. a viable alternative for everyone” SHARING ECONOMY - INSPIRING ROUTE 21
  • 22. “Keep it simple” Simplify is key for global spread 52% 83% of Americans (for the last 2 years) have been renting or borrowing those kinds of items usually owned Source: The Sharing Economy, Loic Le Meur, April 2013. would share those items if “sharing was easy” SHARING ECONOMY - INSPIRING ROUTE 22
  • 23. This is not a passing trend, this is a revolution SHARING ECONOMY - INSPIRING ROUTE 23
  • 24. What might I share? answer these questions to check if your item is “ok” for collaborative consumption • Is it expensive? • Is it expensive to maintain? • is it easily transferable? • is it underused? • Is it anything I don’t need anymore? Source: World Economic Forum Young Global Leaders Sharing Economy Position Paper, June 2013. SHARING ECONOMY - INSPIRING ROUTE 24
  • 25. Education & Skill Where is the change? Idling capacity + critical mass + high costs + Content (Netflix, Spotify) + Food (Eat with me, Grubwithus) SHARING ECONOMY - INSPIRING ROUTE 25
  • 26. Marketplace that enables users to delegate to neighbors or to other SHARING ECONOMY - INSPIRING ROUTE Testo slide 26 Target “taskrabbits”: students, housewives, unemployed, retired, young professionals Target users: busy people (well, everyone!) Source: TaskRabbit; Crunchbase. July 2013. Time Marketplace It was born in 2008 | 37.7 million dollars (2013) | up to 5.000 dollars per month 1 I state the task and the maximum price I can pay 2 The pre-certified “taskrabbits” bid in 3 The user selects the taskrabbit who fits best community people to do small tasks.
  • 27. Enabling a new lifestyle More than on demand access to a car or a movie “The economy of sharing changes the way we behave, consume, seek new options, and commit to decisions” Source: Fastcodesign.com, June 2013. SHARING ECONOMY - INSPIRING ROUTE 27
  • 28. Financial Rational Benefits Environmental Lifestyle Trial saves me money is good for the environment provides me flexibility provides access to goods/services Source: Campbell Mithun, February 2013. SHARING ECONOMY - INSPIRING ROUTE 28
  • 29. Emotional Benefits Generosity Community Lifestyle Cultural I can help myself and others I’m valued and belong I’m smart I’m part of a movement Source: Campbell Mithun, February 2013. SHARING ECONOMY - INSPIRING ROUTE 29
  • 30. Source: Forbes.com, February 2013. The “micro-entrepreneurs” generation Is it a hobby, a business venture or a small company? Dylan Rogers, 27 years old sales rep from Chicago He owns a BMW 6 Series, but since he rarely uses it, he decides to rent it via RelayRides Just in a while his BMW was worthing more than $1,000 per month - more than its price and maintenance costs Recently he bought a Jeep and he’s already thinking about buying a Charger (which is very sought) to increase his fleet vehicles He aims at $40,000 earning per year SHARING ECONOMY - INSPIRING ROUTE 30
  • 31. The size of sharing economy SHARING ECONOMY - INSPIRING ROUTE 31
  • 32. Peer-to-peer financial-lending market (just a few numbers) 5 billion dollars in 2013 Source: Fastcompany, June 2013. SHARING ECONOMY - INSPIRING ROUTE 32
  • 33. Couch-surfing around the world (just a few numbers) 3 million people 253 countries Source: Fastcompany, June 2013. SHARING ECONOMY - INSPIRING ROUTE 33
  • 34. Bike-sharing (just a few numbers) million bikes 2.2 per month in 2011 Source: Fastcompany, June 2013. SHARING ECONOMY - INSPIRING ROUTE 34
  • 35. Source: Frost & Sullivan, 2013. Car-sharing (just a few numbers) 3.3 billion dollars in North America in 2013 SHARING ECONOMY - INSPIRING ROUTE 35
  • 36. Consumer peer-to-peer rental market (just a few numbers) billion dollars 26 in 2013 Source: Fastcompany, June 2013. SHARING ECONOMY - INSPIRING ROUTE 36
  • 37. Investments in sharing economy 2 67 (just a few numbers) billion dollar invested in 200 startups billion dollars since 2011 to 2013 Source: The Collaborative Economy, Altimeter Group, May 2013. SHARING ECONOMY - INSPIRING ROUTE 37
  • 38. Source: Sharable, June 2013 What about Italy? [sharing] systems are deeply rooted in italian culture 120 37 70 projects crowdfunding platforms coworking spaces SHARING ECONOMY - INSPIRING ROUTE 38
  • 39. Platform that offers "massive open online courses" (MOOC) from the most Founded in 2012 | 65 million dollars investment (2013) | 83 partner universities | 4 million monthly users SHARING ECONOMY - INSPIRING ROUTE Titolo slide Testo slide 39 Business model: premium classes, certifications, tutoring [students], sponsorship, recruitment [university] Source: Corsera; Crunchbase, July 2013. You might pay the certificate, but knowledge is for free 1 Choose a course from a catalogue and join in (finance, literature, maths, musics and a lot more) 2 Attend the class and learn together with other people: video, quiz, assessment, live interaction 3 Reach the goals and build an educational, personal and professional resumé prestigious universities in the world
  • 40. SHARING ECONOMY - INSPIRING ROUTE Titolo slide Sottotitolo slide Testo slide 40 Source: Geek and Poke, 2013.
  • 41. “from a business point of view” models, strategy, consequences SHARING ECONOMY - INSPIRING ROUTE 41
  • 42. I buy a car, but I keep it in my garage 8% } How much do we really use it? Our car is not used for more than 90% Source: The future of business is the "mesh”, Lisa Gansky, January 2011. SHARING ECONOMY - INSPIRING ROUTE 42
  • 43. 1 What if we share that 90%? shared car 9* owned cars = ? 270,000$ of missed revenues * da 9 a 13, University of Berkeley, 2013. Source: The Collaborative Economy, Altimeter Group, May 2013. SHARING ECONOMY - INSPIRING ROUTE 43
  • 44. Buy The “snowball effect” Which is the whole effect of carsharing? Financial Services Assurance Taxes Gas Parking Tolls Maintenance a system worth 1,000,000 $ And what about 100, 10,000, 1,000,000 shared cars? SHARING ECONOMY - INSPIRING ROUTE 44
  • 45. Evolution & positioning of “transportation” P2P P2P car rental P2P taxi Ridesharing “Client/Server” Driver-sharing Not active Active traditional Driver Carsharing Traditional Rent Ownership Redefining value chain Redefining value chain SHARING ECONOMY - INSPIRING ROUTE 45
  • 46. MOBILIZ by Renault Enabling mobility There are 15 millions of people in France (110 in Europe) who live under relative poverty threshold. They are not Renault customers but they might become ones. Source: Renault Mobiliz, July 2013. Goal Make transportation more accessible to those who can’t afford owning or maintaining a car. Target SHARING ECONOMY - INSPIRING ROUTE 46
  • 47. MOBILIZ by Renault Enabling mobility Make a network of services & commercial activities to enable the mobility accessible for everyone, even those who can’t afford it. Car Dealers Repair shops Rent a car Carpooling Solution Renault goes beyond its core business and invest in mobility SHARING ECONOMY - INSPIRING ROUTE 47
  • 48. SHARING ECONOMY - INSPIRING ROUTE Evolve or you will “disintermediated” The threat comes from the people Testo slide 48 Source: Britopian, June 2013. Companies must evolve their business models to avoid becoming disintermediated by customers who connect with each other
  • 49. Adopt the Collaborative Economy Value Chain Company-as-a-Service Company-as-a-Marketplace Company-as-a-Platform Source: "What's Mine Is Yours: The Rise of Collaborative Consumption" Botsman & Rogers, 2010. The Collaborative Economy, Altimeter Group, May 2013. SHARING ECONOMY - INSPIRING ROUTE 49
  • 50. Company-as-a-Service product + service Model Offer products or services to customers on-demand or through a subscription model (or even free). Rent, Subscribe, Gift Benefit Develop a long-term relationship with the customer, and get your products into the hands of new customers. Ex. ZipCar, oDesk, Coursera “Think paying for the hole, not the power drill that makes it” SHARING ECONOMY - INSPIRING ROUTE 50
  • 51. Company-as-a-Marketplace Service + Marketplace Model Create a community around the company by enabling customers and partners to resell or co-purchase products, swap goods related to the brand, or even enable lending or gifting for no monetary exchange. Resell, Co-Own, Swap, Lend, Gift Benefit Adding value to the relationship with customers. Ex. AirBnb, Etsy “Start because it’s financially sensible. But we kind of like the connection with people” SHARING ECONOMY - INSPIRING ROUTE 51
  • 52. Company-as-a-Platform Marketplace + Product Model Enable customers to build products and new services as partners. Co-Ideate, Co-Fund, Co-Build, Co-Distribute, Co-Market, Co-Sell, Co-Revenue Share Benefit Build the connection with customers, improve the product and reduce costs Ex. Kickstarter, Quirky.com, Yerdle “Stabilize your relationship to customers by connecting your customers each other under your brand” SHARING ECONOMY - INSPIRING ROUTE 52
  • 53. Source: Venturebeat, March 2013 Walmart to go Let your customers work for you Need React to Amazon and other competitors in e-commerce business Competitors advantage Rapid home delivery Idea Which is our asset? Our clients, of course! SHARING ECONOMY - INSPIRING ROUTE 53
  • 54. Walmart to go Ask your customers for help Pay your in-store clients to deliver to people in the same community. In addition, once registered, clients will receive discounts on shopping. A faster and more efficient “service” than Fedex or Ups, definitely cheaper than building and maintaining a vehicles fleet. Solution SHARING ECONOMY - INSPIRING ROUTE 54
  • 55. Reputation is the new currency Power shifts from who has the money to who has the best reputation and the most reliable network an aversion to sharing that’s rooted in the fear of strangers, germs, and awkward social Source: Boston Magazine, April 2013. - Ick Factor - encounters - ONLY IF - Sharing works only if trusted SHARING ECONOMY - INSPIRING ROUTE 55
  • 56. Social digitalized Create trust and social capital that is both online and offline Verified identity, social graph, peer pressure to create trust This is me. Well, do you trust me? :-) SHARING ECONOMY - INSPIRING ROUTE 56
  • 57. The consequences for the firm Companies risk being disintermediated as customers monetize their assets and Customers will seek products that are more durable or maintain their value. Reputation is the central asset. Customers trust other customers more than brands. Source: Sharable, March 2013. All companies are impacted; some will be severely disrupted. compete directly. A porous workforce redefines employer and employee roles. Offices can be anywhere, enabling the “pop-up company.” SHARING ECONOMY - INSPIRING ROUTE 57
  • 58. “Let your company go” Collaborative approach advantages Efficiency: customers help you to create, distribute and sell your product Loyalty: build a deeper relationship with your clients Social impact: new value made by the people First mover win: We're just at the beginning. Opportunities are yet to be explored Source: The Collaborative Economy, Altimeter Group, May 2013. SHARING ECONOMY - INSPIRING ROUTE 58
  • 59. Unilever “sustainable living plan” A new path to reach sustainability Halve, by 2020, its environmental impact, but 68% of emissions resulting from the Source: Carrotmob, June 2013. The issue use by consumers of its products Goal Helping the consumers to make more sustainable and responsible buying SHARING ECONOMY - INSPIRING ROUTE 59
  • 60. Unilever “sustainable living plan” Use the carrot, not the stick Idea Platform aimed at getting people together in order to push firms to make more socially responsible changes to the business SHARING ECONOMY - INSPIRING ROUTE 60
  • 61. Unilever “sustainable living plan” Use the carrot, not the stick Build a partnership with Carrotmob to develop specific campaigns aiming at increasing consumers engagement, creating brand loyalty, redefining global sustainability Source: Triplepundit, October 2012. Solution Carrotmobbers agreed to shop on a certain day if the stores installed non-ozone-depleting freezers. On the designated date, whenever a mobber bought at least three Unilever products at the stores, Unilever gave a donation to an environmental group We are in a business world “that is moving from value-based transactions to values-based partnerships” (CEO Unilever) SHARING ECONOMY - INSPIRING ROUTE 61
  • 62. 1 5 tips to design a collaborative business Identify your real asset Offline or online, fixed or moveable. Just consider the value of what you want to share. How do I define my 3.0 product/service? 2 Re-customization Remove the traces of previous ownership. Allow customization and personalization at every step. 3 Prolong product lifestyle When products change hands often, wear-and-tear is a big issue. Think about “regenerating”, “substituting” or modifying some parts to prevent usury. 5 Reputation Reputation is the new currency. Let your customer know who you are, how you work and which are your values. 4 Multi-user scenarios ‘All for one and one for all’. Build multi-user scenarios to allow interaction with a multitouch surface or similar interfaces. Source: Fastcodesign, June 2013. SHARING ECONOMY - INSPIRING ROUTE 62
  • 63. The dark side of sharing economy Criticism, risks, issues There are some“gray areas” where activities are neither legal nor illegal. Global VS Local Digital Trust Setting “private ownership era” rules to sharing economy is not always easy Private VS Workers rights Members only Business Taxes, assurance, licensing, geographical restriction, protection of consumers' interests Source: p2pfoundation, June 2013. SHARING ECONOMY - INSPIRING ROUTE 63
  • 64. Collaborative consumption is not a niche trend, and it’s not a reactionary blip to the recession. It’s a socioeconomic groundswell that will transform the way companies think about their value propositions—and the way people fulfill SHARING ECONOMY - INSPIRING ROUTE TITOLO their needs. Rachel Botsman and Roo Rogers Source: Harvard Business Review, October 2010. 64
  • 65. www.marketrevolution.it info@marketrevolution.it This document is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License (CC BY-NC-SA 3.0) 65

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