The New Sharing Economy_latitude

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The New Sharing Economy_latitude

  1. 1. IT’S TRUE THAT SHARING IS A SIMPLE CONCEPT AND AFUNDAMENTAL PART OF EVERYDAY LIFE. THANKS IN LARGEPART TO THE WEB, IT’S NOW AN INDUSTRY WITH SEEMINGLYTHE NEW SHARING ECONOMY IS ONE INSTALLMENT OF LATITUDE 42sTHE NEWSHARINGECONOMYA STUDY BY LATITUDE IN COLLABORATION WITH SHAREABLE MAGAZINEan ongoing series of open innovation studies which Latitude, an international researchconsultancy, publishes in the spirit of knowledge-sharing and opportunity discovery.UNBOUNDED POTENTIAL.
  2. 2. Technology is connecting individuals to information, other people, and physical things in ever-moreefficient and intelligent ways. It’s changing how we consume, socialize, mobilize— ultimately, howwe live and function together as a society. In a global economy where the means of production arebecoming increasingly decentralized, where access is more practical than ownership, what do thesuccessful businesses of the future need to know?— What’s changed about our psychology of sharing?— Is money the only, or even the most valuable, currency anymore?— How can Web, mobile and real-time technologies continue to fuel sharing?— What are the opportunity spaces for business owners & future sharing entrepreneurs?01PHOTO BYDARCY NORMANTHE NEW SHARING ECONOMY I LATITUDE 42
  3. 3. THE NEW DRIVERS OF SHARING— Online sharing is a good predictor of offline sharing. Every study participant who sharedinformation or media online also shared various things offline — making this groupsignificantly more likely to share in the physical world than people who don’t share digitally.— 85% of all participants believe that Web and mobile technologies will play a critical rolein building large-scale sharing communities for the future.This study’s data supports the four primary drivers of sharing as originally outlined by Rachel Botsman,co-author of What’s Mine is Yours: The Rise of Collaborative Consumption75% of respondents predicted their sharing of physical objects and spaceswill increase in the next 5 years.— 78% of participants felttheir online interactions withpeople have made themmore open to the idea ofsharing with strangers,suggesting that the socialmedia revolution hasbroken down trust barriers.COMMUNITYTECHNOLOGY— Regardless of income, more than 2/3 of all participants expressed thatthey’d be more interested to share their personal possessions if they couldmake money from it.GLOBAL RECESSIONENVIRONMENTAL CONCERNS— More than 3 in 5 participantsmade the connection betweensharing and sustainability, citing“better for the environment” asone benefit of sharing.*— Over the past few years, thetenuous state of the economy hasheightened awareness aroundpurchasing decisions, stressingpracticality over consumerism.Participants with lower incomeswere more likely to engage inSymbols convey that the following subgroups were significantly linked to the corresponding data point:YL$$$¢L¢$$$YGen Y (ages 20-29)Politically LiberalHigh Income ($100k+)Low Income (<50k)Tech-oriented Has ChildrenSmartphone Owner02— Moreover, most participants (78%) had also used a local, peer-to-peer Web platform likeCraigslist or Freecycle- where online connectivity facilitates offline sharing and social activities.*Response options were not mutually exclusive.— The two most popularly perceived benefits of sharing (67% each*) were“saving money” and being “good for society,” echoing the “we + me” mentalitynow popular amongst Millennials; saving money needn’t come at the expenseof helping the environment or society.sharing behavior currently and to feel positively towards the idea of sharingthan did participants with higher incomes. They also tended to feel morecomfortable sharing amongst anyone who joins a sharing community.PHOTO BY EIRIK SOLHEIMPHOTO BY KEVIN DOOLEYTHE NEW SHARING ECONOMY I LATITUDE 42
  4. 4. “A LOT OF THESE ARE VERY OLD-MARKET BEHAVIORS, BUT THEY’RE BEINGREINVENTED ON A SCALE AND IN WAYS THAT WE’VE NEVER SEEN BEFOREBECAUSE OF TECHNOLOGY. FOR SURE, MILLENNIALS ARE THE FOOTSOLDIERSDRIVING THIS CHANGE BECAUSE IT’S VERY INTUITIVE TO THEM; THEY’VE NEVERKNOWN ANY DIFFERENTLY. BUT I THINK THAT IT ALSO SEEMS NATURAL TO THEOLDER GENERATIONS—THE WAR-TIME GENERATIONS— BECAUSE THEY HAD AVERY STRONG SENSE OF COMMUNITY.”—RACHEL BOTSMAN, CO-AUTHOR OF WHAT’S MINE IS YOURS: THE RISE OFCOLLABORATIVE CONSUMPTIONTHE NEW TIMELESSCULTURE OF SHARINGSharing is a basic part of human life, so perhaps it shouldn’t comeas a surprise that older generations were just as likely to share asMillennials. In fact, participants aged 40+ were more likely to feelcomfortable sharing with anyone at all who joins a sharingcommunity (with varying levels of community protections in place)and to perceive “making new friends” as a benefit of sharing,whereas Millennials tended to feel comfortable sharing only withinsmaller networks.* Attitudinally, however, Millennials were morelikely to feel positively about the idea of sharing, more open to tryingit, and more optimistic about its promise for the future.*It’s worth acknowledging that Millennials may simply consider a wider network ofpeople to be “friends” or to have more granular understandings of digital privacycontrols, thanks to the rise of social networking — so the relative sizes of these twogenerations’ trusted networks may not differ greatly, even if their labels do.03“IN BOTH DEVELOPED AND DEVELOPINGPARTS OF THE WORLD, PEOPLE AREEXPLORING HOW TO USE GOODS ANDSERVICES MORE COLLABORATIVELY,COMBINING PERSONAL AND SOCIETALVALUE, UNLOCKING OPPORTUNITIES FORORGANIZATIONS OF ALL KINDS AND,ULTIMATELY, CREATING NEW WAYS FOR USTO ENJOY LIFE AND LIVE SUSTAINABLY ATTHE SAME TIME."—STEVE MUSHKIN, CEO OF LATITUDEPHOTOBYGRINAPPLEPHOTO BY CIAT - INTERNATIONAL CENTER FOR TROPICAL AGRICULTURETHE NEW SHARING ECONOMY I LATITUDE 42
  5. 5. 04“OPPORTUNITIES THOUGHT IMPRACTICAL BECAUSE OF PERCEIVED TRUST BARRIERSARE NOW FAIR GAME. THE EXAMPLES OF LENDING CLUB, COUCHSURFING, ANDTHREDUP SHOW THAT PEOPLE ARE ENGAGING IN INTIMATE TRANSACTIONS WITHSTRANGERS DRIVEN BY TECHNOLOGY, NEW NORMS, AND NEED. THIS IS THE TRUSTFRONTIER. WE ARE YET TO DISCOVER HOW FAR WE CAN PUSH THIS FRONTIER.THIS IS THE DECADE WHEN WE ANSWER THE QUESTION: "HOW MUCH CAN WE SHARE?"—NEAL GORENFLO, PUBLISHER OF SHAREABLE MAGAZINETHE NEW STUFF OF SHARING— Not surprisingly, 3 out of 4 participants currently share personal orinformational content through social networking platforms. Moreover, 70%share digital media, and 68% share physical media like books and DVDs.— Of those who share information and media online, approximately 2 in 3participants use other people’s creations licensed under Creative Commons.THE DRIVE OF DIGITALAfter information and media, the most shared categories are, respectively:Living space (58%)Work space (57%)Food preparation/meal-sharing (57%)Household items/appliances (53%)Apparel (50%)Transportation: automobiles, bikes, boatsInfrequent-Use Items: household items, event equipment, sporting goodsPhysical Spaces: garages, parking spaces, spare roomsTHE STATE OF PHYSICAL SHARINGPeople are most interested in sharing infrequent-use items that have a highbarrier to ownership or a high burden of ownership. This is the primary reasonthat car-sharing has met with such success over recent years. The other part isa larger paradigm shift where people are just beginning to think about “stuff”differently. They’re focusing on the benefits of access over ownership—ofpracticality over materialism, experiences over possessions.WHAT KIND OF STUFF IS SCREAMING TO BE SHARED?Car-sharers shared across significantly more categories than non-car-sharers(an average of 11 vs. 8 categories, respectively).PHOTO BY ROBERT S. DONOVANTHE NEW SHARING ECONOMY I LATITUDE 42
  6. 6. MARKET SATURATION% currently sharing through a service or organized community70%65%60%55%50%45%40%35%10% 20% 30% 40% 50% 60% 70%HOUSEHOLD ITEMS / APPLIANCESTIME / RESPONSIBILITIESAUTOMOBILEBIKEWORK SPACEOUTDOORSPORTING GOODSThe greatest areas of opportunity for new sharing businesses are those where a lot ofservices do not currently exist within a specific industry category and where a largenumber of people are currently either a) sharing casually (not through an organizedcommunity or service) or b) not sharing at all but would be interested to share. Theyinclude transportation, infrequent-use items, and physical spaces.MONEY (LENDING BORROWING)BEST NEWOPPORTUNITIESOPPORTUNITIESSTILL REMAINDONE WELLALREADYDIGITAL MEDIAPHYSICAL MEDIAFOOD PREPARATION OR MEALFOOD CO-OP / COMMUNITY GARDENINGTRAVEL ACCOMMODATIONLOW INTEREST ANDLOW PRIOR SUCCESSTHE NEW OPPORTUNITIESFOR SHARINGLIVING SPACESTORAGE SPACE05LATENTDEMAND%currentlysharingcasuallyandthosenotsharingnowbutinterestedtoAPPARELCreated by Latitude for TheNew Sharing Economy studyTHE NEW SHARING ECONOMY I LATITUDE 42
  7. 7. There’s still a large amount of unfulfilled demand forcar-sharing. More than half of all participants eithershared vehicles casually or weren’t sharing currentlybut expressed interest in doing so. For people whoshare in an organized fashion, cars and bikes werepopular for sharing amongst family and close friendsbut weren’t commonly shared outside this immediatenetwork, relative to other categories of goods.OPPORTUNITYMany people already share occasional-use household items(such as power tools, kitchen appliances, party supplies, andsporting goods) with friends, but few services exist yet toorganize these sharing efforts; 62% of participants eithershare these items casually now or don’t yet share butexpressed interest in doing so, while only 27% currentlyshare through a community or service.OPPORTUNITYPeople are surprisingly unreserved about sharing the spacesthey (or their things) inhabit. Both travel accommodations andstorage space ranked among the top 5 categories overall thatpeople who currently share in an organized fashion wouldshare with strangers (given the option to screen othermembers). Physical space is a valuable commodity, which iswhy more co-working and peer-to-peer lodging services arepopping up and doing well. Moreover, new models of sharinglike fractional ownership are refreshing how we think aboutaccessing a variety of different spaces.OPPORTUNITYThere’s a significant opportunity for broad-scaletransportation sharing if issues relating to membertrust, insurance and availability of services (e.g.beyond urban areas) can be overcome.Physical sharing requires a high concentration of localmembers to offer real value as a service; this can beespecially challenging outside dense, urban areas. However,there’s a significant opportunity to share household items insuburban areas if services can generate enough visibility andinterest at the hyperlocal level. More than any othercategories of goods, sporting/outdoor equipment andhousehold items represent areas where people simply aren’taware that some services already exist to help them share.Sharing space simply needs to make practical sense in people’slives in order for them to adopt it; the act must be attached toconcrete benefits like saving or making money, more convenientaccess, or access to otherwise unavailable offerings.CHALLENGE CHALLENGE CHALLENGETRANSPORTATION INFREQUENT-USE ITEMS PHYSICAL SPACES“THE MOST IMPORTANT MOTIVATING FACTOR IN MY DECISION TO CAR-SHARE WASTHE ABSURDITY OF OWNING SOMETHING LARGE AND RELATIVELY EXPENSIVE THATJUST SITS AROUND. I BENEFITTED BY GETTING GREAT EXERCISE, REDUCING MYCARBON EMISSIONS, AND MAKING SOMETHING AVAILABLE TO SOMEONE WHO REALLYNEEDED IT WHEN I DID NOT.” —FEMALE STUDY PARTICIPANT, 56, ITHACA, NY, USATHE NEW OPPORTUNITIES FOR SHARINGThree out of every four respondents predicted that their own sharing of physical objects and spaces will increase in the next 5 years.06PHOTO BY ROB LEEPHOTO BY HYKU / JOSH HALLETTPHOTO BY PIXIETART / JENENE CHESBROUGHTHE NEW SHARING ECONOMY I LATITUDE 42
  8. 8. IT’S TRUE THAT SHARING IS A SIMPLE CONCEPT AND AFUNDAMENTAL PART OF EVERYDAY LIFE. THANKS IN LARGEPART TO THE WEB, IT’S NOW AN INDUSTRY WITH SEEMINGLYTHE NEW SHARING ECONOMY IS ONE INSTALLMENT OF LATITUDE 42sTHE NEWSHARINGECONOMYA STUDY BY LATITUDE IN COLLABORATION WITH SHAREABLE MAGAZINEan ongoing series of open innovation studies which Latitude, an international researchconsultancy, publishes in the spirit of knowledge-sharing and opportunity discovery.UNBOUNDED POTENTIAL.THE NEWPEER-TO-PEERBENEFITS OF SHARING“YOU JUST THINK OF THE NUMBER OF CARS ON THE ROAD—THERESOURCE THAT WE HAVE IN OUR OWN COMMUNITIES IS SO MASSIVE...WHAT THE PEER-TO-PEER MODEL DOES IS IT REALLY ALLOWS US TOLEVERAGE THAT INSTEAD OF STARTING FROM SCRATCH AND BUILDINGOUR OWN FLEET.”—SHELBY CLARK, FOUNDER & CEO OF RELAYRIDES,THE FIRST PEER-TO-PEER CAR-SHARING MARKETPLACEPeer-to-peer sharing allows for potentially unboundedscalability, access to more resources and often at closerproximity to us. Because peer-to-peer companies aren’tsubject to the overhead cost of purchasing and maintaining a“fleet” of assets all their own, the cost to renters is often lower;moreover, members have the opportunity to monetize theirown possessions. These peer-based “marketplaces” help theenvironment by using the resources we already availablemore efficiently rather than manufacturing more new goods.07Most participants liked the idea of sharing services that felt smaller and moreaccessible, like local or grassroots companies (45%) or venture-funded startups (20%).These companies typically foster strong senses of community by virtue of their smallsize, clear communications, and enthusiastic core communities—traits which needn’tbe exclusive to small business. In fact, 22% of participants liked the idea of a sharingservice associated with a major, well-known brand. Point being: regardless of acompany’s size, it should focus on earning the trust of its community and engagingactively with them.COMMUNITY MATTERS, COMPANY SIZE DOESN’TPHOTO BY ELLEN F. LAIGETHE NEW SHARING ECONOMY I LATITUDE 42
  9. 9. THE NEW PEER-TO-PEEROPPORTUNITIES FOR SHARING69% of all participants expressed that they’d be more interested in sharing their stuff if they couldmake money from it. Across all industry categories (excepting physical media, apparel, andmoney), more than half of participants wished to gain access to others’ assets—rather than beinga lender or seller who provides access to others, so this money-making draw could be key toscaling up sharing communities.“THE CONFLUENCE OF MEDIA AND TECHNOLOGY WAS FIRST GROUNDBREAKING IN ITS ABILITY TOCONNECT PEOPLE TO INFORMATION. THEN IT WAS REALLY ABOUT CONNECTING PEOPLE TO OTHERPEOPLE WITH THE ADVENT OF WEB 2.0. NOW THE NATURAL EXTENSION OF ALL THIS IS CONNECTINGPEOPLE TO STUFF—TO THE PHYSICAL THINGS OF EVERYDAY LIFE. WE’RE AT A POINT WHERE ONLINE,SHARED INTEREST COMMUNITIES AND ADVANCEMENTS IN MOBILE, REAL-TIME AND LOCATION-AWARETECHNOLOGIES HAVE CREATED A ‘PERFECT STORM’ FOR SHARING IN THE PHYSICAL WORLD. THERE’SA HUGE OPPORTUNITY FOR BUSINESSES TO CREATE THE TECHNOLOGICAL AND COMMUNITYINFRASTRUCTURE THAT WILL HELP PEOPLE TO SHARE IN NEW WAYS, LOCALLY AND ACROSS MUCHBROADER DISTANCES, THAN WAS EVER POSSIBLE BEFORE.”—KIM GASKINS, DIRECTOR OF CONTENT DEVELOPMENT AT LATITUDE08THE APPEAL OF PERSONAL MONETIZATIONPEER-TO-PEER PRINCIPLES ALL BUSINESSES SHOULD KNOWTHE CULTURE OF INDIRECT RECIPROCITYTHE REALITY OF SCALABILITYThe most popularly cited barrier to sharing was having concerns about theft or damage topersonal property, but 88% of respondents claimed that they treat borrowed possessions well.Reputation is increasingly becoming an important form of currency; communities that offertransparency (such as through open ratings and reviews) encourage good behavior and trustamongst members.In the peer-to-peer model, value to members increases as the community grows: more assetsare made available, often at closer distances. Scaling up communities shouldn’t be a problemwhen 53% of all participants are already comfortable sharing amongst people they may or maynot know personally (with varying community protections in place).PHOTOBYJOHNMEYERS
  10. 10. THE NEW SHARING ECONOMY METHODOLOGYParticipants from across the globe (n=537) took a Web-based survey which capturedsharing attitudes and current engagement with sharing in a variety of contexts, with afocus on establishing benchmarks for the new sharing economy. The study also soughtto understand trust, the role of community, and the new psychology of sharing.Participants were asked to ideate future sharing opportunities—new models and serviceofferings—across industries for both businesses and society at large.“THE RISE OF SHARING REQUIRES US TO USE A NEW LANGUAGE WHERE ‘ACCESS’ TRUMPS‘OWNERSHIP’; SOCIAL VALUE BECOMES THE NEW CURRENCY; ‘EXCHANGES’ REPLACE‘PURCHASES’; AND PEOPLE ARE NO LONGER CONSUMERS BUT INSTEAD USERS,BORROWERS, LENDERS AND CONTRIBUTORS. ALL OF THIS MEANS BUSINESSES MUSTREDEFINE THEIR ROLE FROM PROVIDERS OF STUFF TO BECOME PURVEYORS OFSERVICES AND EXPERIENCES.” —NEELA SAKARIA, SVP OF LATITUDETHE NEW SHARING TAKEAWAYSFOR NON-SHARING BUSINESSESBECOME A WE-BASED BRANDThe growth of sharing suggests a new climate where, increasingly,people expect that businesses will enable them to improve their ownlives and those of others—whether by making more sustainablechoices, by providing access to help others meet their own needs, orby spreading the word about a good brand or worthy cause. Thisdual-benefit model is worthy of further attention by all businesses,insofar as it represents a growing reality for connected culture.Companies can offer value to their communities by acknowledging thatmoney and products are no longer the only—or even the mostvaluable—element of a brand transaction for many individuals today.FIND VALUE IN SOCIAL AND ALTERNATIVE CURRENCIESSharing culture makes it possible for virtually anything, includingspecialized skills or knowledge, used goods, and social reach, tobecome currency. When asked to come up with their own sharingbusiness concepts, many participants envisioned services founded onbartering (non-monetary exchanges) with others in a community.What’s more, there’s a sizable new market for trading time andresponsibilities. At present, 61% of participants either share time orresponsibilities casually or would be interested in doing so, while only16% already share through an organized community or service.Forward-thinking companies like Netflix and Threadless have alreadydemonstrated that users can provide value to traditional businesseswithout buying something: through word-of-mouth, content creation,community innovation, and beyond.09PHOTOBYJACOBBØTTERTHE NEW SHARING ECONOMY I LATITUDE 42
  11. 11. 200820072004-20062002-20031996-19971981-19951960-1980DIGITAL SHARING PRODUCT SERVICE SYSTEM REDISTRIBUTION MARKETS COLLABORATIVE LIFESTYLES201020092000-200116 MMEARLY FORMS OF COLLABORATIVE CONSUMPTION START APPEARINGDISRUPTING MODELS OF OWNERSHIP AND REINVENTING TRADITIONAL RENTING EXPERIENCES 70 MM248 MMTECHNOLOGY ENABLES PEER-TO-PEER SHARING & CULTURE OF DEMATERIALIZATION513 MMBELIEF IN THE COMMONS MAKES A COMEBACK682 MMTHE LINE BETWEEN WHAT IS PUBLIC & PRIVATE, REAL WORLD & VIRTUAL BEGINS TO BLUR1.1 BNPEER-TO-PEER COLLABORATIVE SITES GLOBALLY MUSHROOMSOCIAL MEDIA TOOLS START TO BECOME A PART OF REAL LIFE1.5 BNACCESS IS THE NEW OWNERSHIPGREAT FINANCIAL CRASH SHOCKS CONSUMER BEHAVIORSPRESIDENT OBAMA (MYBO.COM) PROVES THE POWER OF MASS COLLABORATION1.3 BNSMART PHONES & APPS COME OF AGEWE ENTER THE PERIOD OF SHARING ANYTIME, ANYWHERE1.8 BNELINOR OSTROM WINS NOBEL PRIZE FOR ECONOMICSFIRST TO WIN WITH A THEORY IN THE EFFICIENCY OF COMMONS-BASED SOCIETIES1.96 BNINTERNET USERSWORLDWIDEHALLMARKS IN CONSUMPTION BEHAVIOURSPEER-TO-PEER PRODUCT SHARING STARTS TOBECOME MAINSTREAM AND HYPER-LOCALWEB BECOMES SEARCHABLE & SOCIABLETRUST BETWEEN STRANGERS BUILDS VIRTUALLYWEB STARTS TO BECOME ORGANIZED (WE CAN CONNECT WITH EACH OTHER)1998-1999SOCIALTECHNOLOGIESPERSON-TO-PERSONRESOURCE SHARINGPERSON-TO-PERSONSOCIAL NETWORKSCAR, RIDE &TAXI SHARINGBIKESHARINGRENTALSYSTEMSREUSEMARKETPLACESSWAP TRADINGMARKETPLACESPERSON-TO-PERSONSPACE SHARINGPERSON-TO-PERSONNEIGHBORHOOD SHARINGPERSON-TO-PERSONBANKINGWHITE BICYCLES /YELLOW BICYCLESBYCYKLENBIKEABOUTCALL A BIKE (BERLIN)VELOVCALL A BIKE / CITY RADERHZ BIKE / VELOH / BIKE ONEZUNAFISH / SWAPAGIFTDIGNSWAP / SWAPACESWAPTREE / PAPERBACKSWAP /BOOKMOOCH / SWAPBABYGOODS /CLOTHING EXCHANGESWAPITBABY / SWAPSTER / SWAPCOVE /TOYSWAP / THREDSWAPTHREDUP/ 99 DRESSES /SWAPBOOKSFOTOLOG / WORDPRESSD.E.L.I.C.I.O.U.SARPANET / NLS / USENETINTERNET / WELL / GNU /WORLD WIDE WEB / ARCHIE / ERWISE /GLOBAL EMAIL / WIKIWIKIWEBGOOGLE / MAPQUESTSKYPESTICKY BITS / ITIZENWITKARSTIME BANKING /BARTERCARD / FUREAI KIPPULINUX EBAY / CRAIGSLISTEUROPEAN CAR SHARING /STATTAUTO / COMMUNAUTOMOBILITYCAR SHARING PORTLAND / AUTOSHAREMATCH / CLASSMATESSTAJL PLEJSSIX DEGREES / ASIAN AVENUECARE2LIVEJOURNAL / CYWORLDNAPSTERWIKIPEDIA / CREATIVE COMMONSSTUMBLE UPON / BIT TORRENTMIGENTE / DODGEBALLMEETUP / RYZE ZIPCAR / VRTUCAR / FLEXCAR GUMTREEFRIENDSTER / MYSPACE /SECOND LIFE NURIDE / I-GO CAR SHARINGCOUCHSURFING / THE HUBHUB CULTUREFREECYCLEYOUTUBE / SLIDESHAREDIG / FLICKR / VIMEO / YELPTUMBLRLINKEDIN / TWITTER / LOOPTFACEBOOK (COPRORATE NETWORKS)GOWALLA / EVERYBLOCKGREENWHEELS / GOGETSTREETCAR / FLEXICAR / ZIMRIDEGOLOCO / CITYHOP / ORIX AUTOCONNECT / CITYWHEELS / MINTFOURSQUAREHOURCAR / WHIZZ CARCARSHARE HFX / CONNECTU-CARSHARE / WECAR / CAR2GOBLOCKCHALKVÉLIB / BICING / SEVICIBIXI / DUBLIN BIKES / VILLO CRASHPADDER / ISTOPOVEROFFICECITIZEN SPACE / TECHSHOP /PARKATMYHOUSE / CO-WORKINGSTOREATMYHOUSEHIRE THINGS / SMARTYRENTS /WEAR TODAY, GONE TOMORROWRENTOID / RENTCHARLIE /SOLARCITY / ZILOKREUSEITNETWORKSCOODIB-CYCLE / MELBOURNE BIKE SHARENICE RIDE / BIXI (LONDON) / ECOBICIOPENSPOT / PRIMOSPOTSHARED EARTH / URBAN GARDEN SHAREWECOMMUNE / ECOMODO / SHAREHOODNEIGHBORROWTHING LOOP / SNAPGOODSNEIGHBORGOODS / TRADESCHOOLSHARE SOME SUGARLENDING CLUB / PROSPER / ZOPAVEN / DIVVYBANK OF HAPPINESSVENMO / TINY / QUIDS / KROONOSYES-SECURE / IGRINPAYPAL 2.0 / PEEPEX/ OURGOODSSHARE ZEN / CROWDRENT COZYBUGUSEDCARDBOARDBOXES / GIGOITRENTALIC / BABYPLAYS /LUCKYDUCK / DRESSEDUPAIRBNB / LAUNCHPAD / SPAREGROUND /LANDSHARE / ROOMORAMAKASHLESSRELAYRIDES / WHIPCAR / MUDRIVE MY CAR RENTALS / WHEELSZIBIGO / RIDEPENGUIN / CAB CORNERBAG BORROW OR STEAL /FROMBAGSTORICHESTHIS GRAPH REPRESENTS JUST A FEW EXAMPLES OF COLLABORATIVE CONSUMPTIONSHARING ISCONTAGIOUS1960-2010THIS INFOGRAPHIC CHARTS THE RISE OFCOLLABORATIVE CONSUMPTION:THE RAPID EXPLOSION IN TRADITIONALSHARING, BARTERING, LENDING, TRADING,RENTING, GIFTING, AND SWAPPINGREDEFINED THROUGH TECHNOLOGY ANDPEER COMMUNITIES.WWW.COLLABORATIVECONSUMPTION.COMPAYPAL10 SHARING IS CONTAGIOUS: INFOGRAPHIC CREATED BY RACHEL BOTSMAN, CO-AUTHOR OF WHAT’S MINE IS YOURS: THE RISE OF COLLABORATIVE CONSUMPTION
  12. 12. A cyclical system of accesswhere members rent orborrow goods, then returnthem to the central pool forother members to access.SYNCHRONOUSA redistribution system where itemsare passed off—gifted, traded,bartered, or resold— from one ownerto the next so that they can be reused.ASYNCHRONOUSMoneyTRADITIONAL ALTERNATIVEAbove all, sharing was perceived by participants as borrowing or lending an item for free, seconded by co-owning something with others: essentially,exchanges that involved no monetary gain, as well as synchronous access or collaborative efforts toward a shared goal. Sharing that wasasynchronous or which might lead to monetary gain on one end (e.g. renting or buying/selling used items) weren’t as strongly associated with theconcept of sharing—but nevertheless chosen as forms of sharing by more than half of respondents.Shareable assets are owned by asingle entity which provides accessto members; in a centralized model,all members are renters/ borrowers.CENTRALIZEDKnowledgeSkills & ServicesMaterial itemsTimeReputation & Social ReachMembers pool their own assets toshare amongst other members. Themember collective is comprised of bothowners/lenders and renters/borrowers.PEER-TO-PEERSimultaneous collaboration toachieve a shared goal;involves joining resourceslike money, time orspecialized knowledge.COLLABORATIVELIFE-CYCLECOMMUNITYDESIGNCURRENCYTHE NEW DIMENSIONS OF SHARING“Community college 2.0: provide some sort of structure that lets people let other people knowwhat they know and what they want to learn. If you can get enough people together, everyone isboth student and teacher.”—Male study participant, 29, Salt Lake City, UT, USAKNOWLEDGE (multilateral sharing)“... a sort of bounty hunting service for open source projects, where people in need would investinto certain features/fixes with (smaller amounts of) money. Bounties would therefore accumulateand developers would profit by providing solutions.”—Male study participant, 24, Ljubljana, SloveniaSKILLS AND SERVICES (micro-funding)“... person A needs something that person B has, and person B needs something that person Chas, and person C needs something that person A has—except that this service would be free,completely based on bartering.”—Female study participant, 56, Ithaca, NYMATERIAL ITEMS (multilateral bartering)COMPOSITE MODEL“Ill walk your dog while youre away; you water my plants; Ill give you baby toys I dont needanymore; you loan me your lawn mower. I think this kind of interaction is part of community tiesand support networks that used to develop naturally and spontaneously and need someencouragement now.”—Female study participant, 38, Providence, RI, USA11PARTICIPANTS’ IDEAS FOR NEW SHARING MODELS$$$
  13. 13. NEELA SAKARIA SVPNSAKARIA@LATD.COM LATD.COMSTUDY LEADKIM GASKINS DIRECTOR OF CONTENT DEVELOPMENTKGASKINS@LATD.COMSUPPORTING ANALYSTNATALIE STEHFEST SENIOR RESEARCH ANALYSTSHAREABLE IS A NON-PROFIT ONLINE MAGAZINE WHICH EXPLORESHOW TO DESIGN LIFE, WORK, AND COMMUNITY SO THAT PEOPLECAN BETTER SHARE RESOURCES. SHAREABLE TELLS THE STORY OFSHARING BECAUSE IT MIGHT BE JUST WHATS NEEDED TO ENJOYLIFE TO THE FULLEST—AND RESTORE THE PLANET IN THEPROCESS. VISIT SHAREABLE.NET FOR SHARING NEWS, AND TOLEARN ABOUT HOW YOU CAN LEAD A MORE SHAREABLE LIFE.12LATITUDE IS AN INTERNATIONAL RESEARCH CONSULTANCY EXPLORING HOW NEWINFORMATION AND COMMUNICATIONS TECHNOLOGIES CAN ENHANCE HUMANEXPERIENCES. LATITUDE’S USERCENTERED RESEARCH APPROACH UNITESGENERATIVE, MEDIA-BASED METHODS WITH ROBUST QUANTITATIVE ANALYSIS TOIDENTIFY CONCRETE OPPORTUNITIES FOR WEB-BASED INNOVATION.TO BETTER UNDERSTAND HOW THIS STUDY APPLIES TO YOUR BUSINESS, CONTACT:THE NEW SHARING ECONOMY SUMMARY WAS DESIGNED IN COLLABORATION WITH DESIGNOMOTION

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