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Everything You’ve Ever Wanted to Know About the Sharing Economy but Were Afraid To Ask!


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In this crowdsourced session, Benita's presentation will be inspired by the crowd's curiosity.

By Benita Matofska, Chief Sharer, The People Who Share. Presented at Crowdsourcing Week Global 2016. Learn more and join the next event:

Published in: Business
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Everything You’ve Ever Wanted to Know About the Sharing Economy but Were Afraid To Ask!

  1. 1. Everything you’ve ever wanted to know about… The Sharing Economy A crowdsourced keynote by Benita Matofska #CSWGlobal16
  2. 2. Benita Matofska • Global Sharing Economy expert, speaker, consultant • Chief Sharer, The People Who Share • Founder, Global Sharing Week
  3. 3. A social enterprise that helps people and companies discover and access the Sharing Economy • Campaigns: Global Sharing Week • Global Partner Network • Consultancy & Delivery • Share your Spare • The Share Collection
  4. 4. Definition The Sharing Economy is… A system built around the sharing of human, physical and intellectual resources
  5. 5. Social & Environmental Impact There are £3.5 trillion1 of unused resources worldwide…food, homes, clothing 1. The People Who Share, 2013 40,0002 people die each day without access to food, shelter, water 2. Share the World’s Resources
  6. 6. Social Impact 13.2 million meals diverted from landfill to people in food poverty in UK by FareShare9 Craigslist diverted 5 million tonnes of goods from landfill in 201410 Sharing Economy 3 x greater impact for low income communities11 9.FareShare UK 10. Anders Fremstad 11. Arun Sundarrajan, NYU Stern, 2015
  7. 7. The Sharing Economy uses technology to help people & companies access and trade idle resources. Technology The Sharing Economy uses technology to help people & organisations access, share and trade idle resources
  8. 8. Valuation The Sharing Economy is growing faster than Facebook, Google and Yahoo combined3 Valued at $15 billion4 in its first 7 years compared to the combined growth of Facebook, Google and Yahoo of $11 billion5 3.Business Insider 4. PwC, 2014 5. Business Insider
  9. 9. Participation • 28% sharing globally6 • 68% adults globally willing to share or rent goods for money7 • 64% participation in UK9 • 105 million sharers in USA10 • 14 million sharers in Canada10 • 51% of adults in the USA get products and services peer-to-peer rather than from big corporations10 • Predict that 8 in 10 Americans will participate in SE by 201710 6.Havas Worldwide, 2014 7. Nielsen,, 2014 8. Nielsen, 2014 9. Nesta, 2014, The People Who Share, 2013 10. Crowd Companies, Vision Critical, 2015
  10. 10. Demographics: Who is sharing?
  11. 11. Generation Share: Young Early Adopters • 2.68 billion globally13 • Age 25-34 • 57% can find the things they need to rent or borrow online14 • 73% say the Sharing Economy is important15 13 The People Who Share 14.Havas 15. American Planning Association
  12. 12. Demographics: The Sharing Economy is also for Older People • 25% Sharing Economy service providers are 55+7 • 10% of Airbnb hosts are over 60 • 25% of Uber drivers are over 50 • Participation rates on some sharing sites of over 55’s has grown 375% in the last year8 • Adults aged 55-64 choosing renting, sharing & swapping over ownership has grown 80% in the last 12 years9 7. PwC, 2015 8. Fiverr 9. Harvard University
  13. 13. Sharing Economy Drivers • Saving & making money21 • Sustainability, collective good22 • Technology23 • Changing values24 • Convenience25 21 Vision Critical & Collaborative Lab, PwC, 2014 22. Leo Burnett, 2014, Havas Worldwide, 2014 23.. Zipcar, 2013, Lattitude & Shareable, 2010 24. Vision Critical & Collaborative Lab, 2014, Havas Worldwide, 2014, IPSOS, 2013; Heinrichs & Grunenberg, 2013, Leo Burnett, 2014
  14. 14. Sharing Economy Barriers • Trust • Safety & Privacy • Ease of sharing
  15. 15. 1. Spaces 2. Transport 3. Food & Drink 4. Finance 5. Communities & Networks 6. Goods 7. Learning 8. Creativity & Media 9. Eco solutions 10. Tasks, Jobs & Skills Verticals of the Sharing Economy
  16. 16. 11. Trust, Security, Insurance 12. Logistics 13. Utilities 14. Public Governance 15. Health & Fitness 16. Leisure & Entertainment 17. Worker support 18. Wellness & Beauty 19. Animals Verticals of the Sharing Economy
  17. 17. What are People Sharing? • Goods: 44%5 • Services 15% (learning most popular) 5 • Crowdfunding 14%5 • Transport 10%5 • Space to stay 17%5 • Office space 6%5 5. Crowd Companies, Vision Critical, 2015
  18. 18. Controversies in the Sharing Economy
  19. 19. Is Uber in the Sharing Economy?
  20. 20. Should Sharing Economy businesses share their profits to be counted as part of the Sharing Economy?
  21. 21. Should businesses have a purpose to be part of the Sharing Economy ?
  22. 22. Global Sharing Week Largest mass engagement campaign. Helping millions discover the Sharing Economy • Reached 100+ million globally25 • 125 events 26 • 5 continents27
  23. 23. The global population is set to grow from 7 billion to 9.3 billion by 2050. Our cities will need to accommodate 70% more people. Sharing Cities
  24. 24. • Cities generate more than 67% of greenhouse gases • Drivers looking for a parking space cause 30% of urban congestion & pollution. • Car sharing could save 3 million tonnes of carbon per year Sharing Cities
  25. 25. World’s first Sharing City Sharing Cities
  26. 26. Sharing Cities Amsterdam
  27. 27. • USA 15 mayors signed Shareable Cities Resolution, 2013 • UK funding pilots in Leeds & Manchester • Kirklees creating a platform for city-wide sharing of skills and goods • Amsterdam cross-sector engagement
  28. 28. Sharing cities are… Smart Resilient Efficient Happy Where would you like to live?
  29. 29. Designed for Sharing A system built around access to shared resources rather than ownership • Based around people and planet • Easy to use • Efficient • Different forms of value exchange • Built to last - sustainable
  30. 30. The Sharing Economy is impacting every sector • Private • Public • Voluntary
  31. 31. People are no longer reliant on corporations for their products & services. Now they can trade peer-to- peer. Corporations and the Sharing Economy
  32. 32. 90% of consumers want brands to share. Only 10% perceived as doing it well21 21. Deloitte, 2014 Corporations and the Sharing Economy
  33. 33. The Sharing Economy is an opportunity for organisations to turn costs into revenue Companies adopting the Sharing Economy can double their revenues within 1 year11 11. Deloitte, 2014 Corporations and the Sharing Economy
  34. 34. Home Depot Walgreens Walmart Kingfisher M&S Mariott Hotels Avis BMW Enterprise Rent-A-Car Patagonia W Hotels U Haul Tesco Companies already engaging with the Sharing Economy include:
  35. 35. Partnership with Liquidspace. Rent unused spaces as co- working spaces Turn idle resources (cost) into revenues Case Study: Marriott Hotels
  36. 36. Partnership with eBay to sell pre-loved Patagonia products online Share the lifecycle of the product Case Study: Patagonia & eBay
  37. 37. Online customers delver goods for in-store customers Crowdshipping Case Study: DHL & MyWays & Wal Mart
  38. 38. Global Home Furnishings Forum: Keynote on the Sharing Economy Consultancy: How can IKEA engage in the Sharing Economy? Case Study: IKEA
  39. 39. Macmillan Cancer Support TeamUp Peer-to-peer task- sharing platform to connect volunteers with people living with cancer Case Study: Charity
  40. 40. More Corporate Examples FORD: Creative financing program to encourage new buyers to rent their new Ford car to peers on Getaround, a P2P online marketplace. HOME DEPOT: Offers a rental service for tools and heavy equipment, including trucks, so customers don’t need to buy expensive, infrequently used goods. WALMART: Created an aftermarket for videogames, called Trade In, which enables customers to sell back cell phones and other electronics in their own stores and online.
  41. 41. The organisations of the future will be those built around sharing.
  42. 42. Working in the Sharing Economy • 4.9 million people working in the SE in the UK3 • 18.5 million buy SE services in the UK3 • 33% of 25-34 year olds 3 • 24% rely on this income3 • 42% earn less than £20K per year before tax 3 • 7% earn more than £55K per year before tax3 • 81% are the main breadwinners3 • 51% of workers under age 353 • 54% of workers female3 • 46% of workers male3 3. Foundation for European Progressive Studies (FEPS), UNI Europa, University of Hertfordshire, 2016
  43. 43. Where is the Sharing Economy heading?
  44. 44. Future Predictions 40% say they will attempt new types of sharing16 91% of sharers say they will recommend sharing services via social media17 60% of adults in the UK say they’ll swap goods in the future18 91% of adults intend to continue sharing in future19 16. Havas, 2014 17. Vision Critical & Crowd Companies, 2014 18. The State of the Sharing Economy, Opinium Research for The People Who Share, 2013
  45. 45. Thanks for sharing! @benitamatofska @peoplewhoshare #sharingeconomy #CSWGlobal16