Shared economy - Collaborative consumption - The sharing economy

THE
SHARING
ECONOMY
Top 18+ examples of the
new sharing economy

The shared economy
I do not need a drill.
I need a hole in the wall
14 September 2013 www.torbenrick.eu 2

The shared economy
How much do an avg. car owner use its car?
8%
Cars are not used for more than 90%

From communication to social media and the
new shared economy
• The internet has evolved from communication to social media and the
new shared economy.
• Sharing is an old idea, but its potential to generate economic
opportunities is only just beginning – it’s a new type of enterprise that
strives to make it easy for people to share resources.
• These new services rely on the web, impersonal relationships, and they
are based on ratings and reciprocal reviews from unknown people to
build trust among their users.
• This type of business couldn’t work out before social media platforms.

The phases of the internet evolution

The new shared economy
- The consumer powered revolution
• The sharing concept has created markets out of things that wouldn’t
have been considered monetizable assets before.
• A few dozen square feet in a driveway can now produce income via
Parkatmyhouse.
• A pooch-friendly room in your house is suddenly a pet penthouse
via DogVacay.
• On Rentoid, an outdoorsy type with a newborn who suddenly
notices her camping tent never gets used can rent it out to a city
slicker who’d otherwise have to buy one.
• On SnapGoods, a drill lying fallow in a garage can become a income
source from a homeowner who just needs to put up some quick
drywall.
• On Spinlister, an unused bicycle becomes a way for a traveler to
cheaply get around while visiting town.

The drivers
The drivers behind the rise of the sharing economy:
Social, Economic and Technology

Disruption
#1 – Shared economy - Hotels
• 9Flats, HouseTrip, Wimdu and
Airbnb – offering the convenience of
a hotel, the comforts of a home and
the price tag of an up-market hostel
- let’s call them peer-to-peer hotels
• It is the most prominent example of
a huge new “sharing economy”, in
which people rent beds, cars, boats
and other assets directly from each
other, co-ordinated via the internet.

#2 - Shared economy - Banks
• Banks are changing dramatically amid an avalanche of regulatory change
and widespread debt reduction.
• But this is not the only disruption which banks are experiencing: The
peer-to-peer lending sector is growing fast.
Disruption

#3 - Shared economy – Car rental
• A car used to be the ultimate symbol of freedom and independence but
increasingly consumers view ownership as an expense and a burden.
• Car Sharing is becoming increasingly popular with its promise of
personal convenience and social improvement.
Disruption

#4 - Shared economy – Car rental at the airport
• The park ‘n share economy has arrived at the airport.
• Park ‘n share works like this: Someone flying out for a trip parks their car
in a designated lot near the airport. Employees paid by the park ‘n share
company take the keys and hand that person’s car off to someone else
flying into the airport, who rents it while the owner is out of town.
Disruption

#5 - Shared economy – Ride sharing
• GreenRiders is an online and mobile ride sharing service.
• Service makes it easy to share any car rides and track carbon emissions -
saving nature and money.
Disruption

#6 - Shared economy – Parking
• As more consumers become comfortable with the idea of connecting
with a stranger to rent out their stuff, more sites have emerged solely
focused on connecting parking spot and driveway owners with parkers.
• Sites like “Park At My House” offers home and business owners way to
put their parking spots and driveways up for rent to prospective parkers.
• By compiling a network of unused parking spaces, Parking Panda
provides drivers with a list of available spots, allowing them to reserve
and pay online.
Disruption

#7 - Shared economy – Bags
• Sites such as Bag, Borrow or Steal and Rent the Runway empower
consumers to lend clothing, bags etc. to each other.
• For instance, Bag, Borrow or Steal specializes in helping consumers lend
designer handbags and accessories. “All you have to do is find the
perfect accessory, enjoy it, return it and repeat,” crows the site (and, by
implication, you don’t need to buy that perfect accessory from a
retailer).
Disruption

#8 - Shared economy – Clothing
• Thesixosix, aims to give fashion-conscious sharers a helping hand by
providing a community closet to pull from.
• “Because you need clothing, not a closet”.
Disruption

#9 - Shared economy – Taxi
• The automotive industry risks being disrupted by car-sharing businesses
such as Lyft and Sidecar (consumer-to-consumer taxis).
Disruption

#10 - Shared economy – Borrow things
• NeighborGoods, an online community where users can lend and borrow
things locally.
• Members can safely borrow a lawnmower, a power drill, ladder, lend a
bicycle, or earn some extra money by renting a DVD collection.
Disruption

#11 - Shared economy – Art
• GetARTup brings the art museum to your home or office.
• Getartup's sharing model means almost anyone can have a different
piece of locally-created, contemporary art on their wall each month for
far less than it would cost to own.
Disruption

#12 - Shared economy – Dogs
• The UK-based Borrow My Doggy connects people who want to spend
time with a dog but can’t have one of their own, with people who have
a dog that could benefit from more walks, connections and “tail wags.”
Disruption

#13 - Shared economy – Bike
• On Spinlister, an unused bicycle becomes a way for a traveler to cheaply
get around while visiting town.
• The growth of bike sharing is exceptional.
Disruption

#14 - Shared economy – Boat
• GetMyBoat offers a boat-sharing service, where boat owners can list
their respective watercraft for rental by those without.
• The site allows an owner to post their boats, state the rate and book via
the website’s verified interface and community.
• Bookings and payments happen via the site, providing security for all
parties.
Disruption

#15 - Shared economy – Lego
• Playgo - A Netflix-like rental service for Lego sets.
Disruption

#16 - Shared economy – Task
• But it have also created demand for
product and services that didn’t exist
before: TaskRabbit is a good example
of that.
• The easiest way to explain TaskRabbit is …
neighbors helping neighbors. A
technologically innovative company
connecting a community in real-time via
social, location based, and mobile
components, which one could call a
“Service Network.”
• TaskRabbit has developed an innovative
way for urbanites to get their chores and
tasks done quickly and easily by enlisting
the help of local “TaskRabbits.”

#17 - Shared economy – Meal
• Enjoy a meal from someone’s home kitchen – rather than eat at a
restaurant.
• “Join us at our table”: Feastly and EatWith is a platform connecting
cooks with adventurous diners in cooks’ homes, aiming to lower barriers
for entry into the food space and provide feasters with more authentic,
dynamic and social food experiences.
• EatWith and Feastly is like the Airbnb but for food.
Disruption

#18 - Shared economy – WiFi
• Fon enables people to share some of their home Wi-Fi network in
exchange for getting free Wi-Fi from anyone of the 11 million people in
Fon's network.
Disruption

A cup of sugar

What is next?
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Shared economy - Collaborative consumption - The sharing economy

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