Collaborative consumption

HELLO FROM TMW Collaborative consumption: Not a made-up thingMonday, June 18, 2012 1

What is it? Coined by Marcus Felson and Joe L. Spaeth “Community Structure and Collaborative Consumption: A routine activity approach" Published in 1978 in the American Behavioral Scientist. The paper dealt with car-sharing.Monday, June 18, 2012 2

"A new socio-economic big idea promising a revolution in the way we consume."Monday, June 18, 2012 3

"Its not a case of not buying anything, its a case of not buying everything."Monday, June 18, 2012 4

Monday, June 18, 2012 5

Product Redistribution Collaborative service markets lifestyles systems Pay for the benefit of using a Redistribute used or pre- People with similar interests product without needing to owned goods from where are banding together to own the product outright. they are not needed to share and exchange less somewhere or someone tangible assets such as time, where they are. space, skills, and money.Monday, June 18, 2012 9

Why should marketers care? Why share? ‘Me’ meets ‘We’ mindset Who’s sharing? Gen X, high income Barriers: Trust, value, quality Best market segments: Goods (for now)Monday, June 18, 2012 10

For marketers, collaborative consumption: 1. Creates new markets via access vs. ownership 2. Taps consumer ‘me’ meets ‘we’ mindset 3. Extends customer relationship from ‘point in time’ to ‘points across time’ 4. Enables hassle-free trial 5. Creates word of mouth through user communityMonday, June 18, 2012 11

Thank you @vikkichowney vchowney@tmw.co.ukMonday, June 18, 2012 12

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Collaborative consumption

by Vikki Chowney on Jun 30, 2012

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