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Whats Mine is Yours


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Whats Mine is Yours

  1. 1. WHATS MINE IS YOURSCaroline BrackenTuesday 25th October 2011
  2. 2. Introduction Key Learnings of Whats Mine is Yours Understanding of Collaborative Consumption and how it is changing the way we live Consumer Behaviours What we consume and how we consume it
  4. 4. Collaborative Consumption –What is it all about? Peer to peer exchanges between producer and consumer, seller and buyer, lender and borrower, and neighbour and neighbour Face to face v Online Everyday event creating a culture and economy of what’s mine is yours Explosion of online collaboration and virtual communities - examples: Airbnb, ebay, Craigslist and CouchSurfing
  5. 5. Collaborative Consumption -Whats it all about? Creative innovative systems based on shared usage such as bikes or car sharing Bike Sharing fastest growing form of transportation in the world and car pooling in the US has grown by 51.5% since 2008 Future is bright for companies:  Peer to peer social lending- $5Billion by 2013  Swap Market - Childrens Clothing- $3Billion  Car sharing - $12.5Billion Industry
  6. 6. Food For Thought……As British author and former advisor to Tony Blair, CharlesLeadbeater commented: In the 20th century of hyper- consumption we were defined by credit, advertising and what we owned, in the 21st century of Collaborative Consumption we will be defined by reputation, by community, and by what we can access and how we share and what we give away”
  8. 8. Negative Consequences of Modern Consumerism Past 50 years we have consumed more goods and services than ever Since 1980 we have consumed 1/3 of the planets resources Deforestation – 250 million acres annually Americans- worlds worst environmental offenders - 21,000 tonnes of petrol - 220,000 kilos of steel - 2.5 litres of water - The wood of 1,000 trees - 800,000 watts of electrical energy On an international scale: - Twice that of a Swede - 3 times of an Italian - 13 Times of a Brazilian - 35 Times of an Indian - 280 times of a Haitian Need for 5 planets to sustain them during their lifetime
  9. 9. The Great Pacific Garbage Patch The Great Pacific Garbage Patch - worlds largest landfill x2 size of Texas 3.5 tonnes of floating garbage90% plastic, bottle caps, toys, shoes, takeaway containers- “plastic plankton soup” 5 areas cover 40% of the sea, ¼ of earths surface Biodegradable v Non biodegradable Plastic outweighs surface plankton 6:1
  10. 10. Why is this happening? Lock in Law of unintended consequences - Ignorance - Error - Immediate Interest - Basic Values - Self Defeating Prophecy Incontrollable throw away habits - UK: man woman and child combined can fill the Royal Albert Hall every 2 hours - 30% recycled/composted, 13% Incinerated, Remaining Landfills - US waste retention experiment
  11. 11. Storage…is it More Waste….? Australians spend $10.8 billion on goods they do not use Waste = difference between the stuff we buy and what we use Storage extends the capacity to own more things Bigger houses, garages, smaller families and the need for more storage Fight Club- you do not talk about fight club and the things you own end up owning you We work hard to acquire more stuff but feel unfulfilled because there is always something better, bigger and faster, than in the present The more we have the more we want
  12. 12. Hyper Consumerism A crowd of exhausted consumers knocking down the doors and ploughing down people simply to buy more stuff in Walmart Hyper Consumerism - Power of Persuasion - Buy Now Pay Later - Law of Life Cycles - Just One More Factor
  13. 13. The 4 Factors of Hyper ConsumerismThe Power of Persuasion Buy Now Pay Later•Connect on a deep subconscious •Plastic V Cash experimentslevel 3 Plastic Habits:•Desire should be linked to human •Accelerated spendingpatterns •Mindless spending•More than 3,000 advertising •Latest and greatest spendingmessages dailyLaw of Life Cycles Just One More Factor•Neophilia •Range of Choice•Life cycle of electrical consumer •Fulfilment of needs and wantsproducts •Shopping and buying more•Ford v Sloan stuff= happiness
  14. 14. From Generation Me to Generation We “Generation Me” of independent, self sufficient consumers The great error of our nature is not to know where to stop, not to be satisfied with any reasonable requirement, but to lose all we have gained by insatiable pursuit of more” Start of the “We Generation”- Shift in Values- infinite growth and consumption based on finite resources do not mix - Example Etsy - Simplicity - Traceability - Participation- Emersion in ICT platforms Example
  15. 15. The Rise of Collaborative Consumption Collaborative Consumption can be arranged into 3 groups  Product Service System  Redistribution Markets  Collaborative Lifestyles 4 Principles of Collaborative Consumption  Critical Mass - Choice and social proof  Idling Capacity  Belief in the Commons  Trust between Strangers
  17. 17. Product Service System- (PSS) Access is better than ownership Sharing using the internet- Netflix Service Envy- desiring services more than products Car Saving Programs desire for one more but without the waste
  18. 18. Redistribution Markets Free cycle- no such eBay thing is waste its useful  Every second $2000 of stuff in the wrong place trading is done Benefits: reduces  Every minute a 2 nd waste, carbon hand vehicle changes emissions, and hands on eBay motors resources that go with  The ability to determine making a new product what is fair and what’s Internet gives power to not is vital its users  Principle of the people, Good for shorterm by the people for the goods people environment
  19. 19. Collaborative Lifestyles Idea of using what you no longer want to get what you do need- example salsa classes for pots and pans Coincidence of wants- both sides getting what they want Creation of Time Banks and LETS- bank of happiness Social Lending- Zopa Co working locations New ideas with an old ethos If we let go a bit of our individualism we will recover something we have been missing.
  21. 21. Collaborative Design Designers need to find balance between the needs of consumers and the collective interest of society Design Thinking: focus on facilitation and participation Collaborative Service System  Fluidity- Virgin Atlantic  Replication- Car& Bike Sharing  Diversified Access- farmers market v agri schemes  Enhanced Communication Support-skill sharing networks Designing product with longevity and with the capacity to update- Timberland Design thinking will be critical in putting collaborative consumption into real workable solutions
  22. 22. Importance of Branding  Maslows hierarchy of needs is the strongest model for understanding consumers We are latching onto the rising brands of collaborative consumption through interaction and community Nike are shifting brand focus away from products and towards building collaborative communities Consumers want to be part of a community and want to be engaged Brands must offer experiences and not just products
  23. 23. Conclusion We have seen the change from what’s in it for me, to what’s in it for us- social lending, food coops, car sharing Motivations for participating in Collaborative consumption: cost, saving, social aspects, community. In the future we will have reputation bank account, reputation rating, and peer to peer markets will be second nature to us. A collaborative and sharing culture will be the culture