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Millennials and the $335 Billion Sharing Economy

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Millennials are at the forefront of a seismic shift in business that could be worth $335 billion by 2030 (according to PWC data). How is Uber worth $40 billion or Airbnb $20 billion? The reason is the evolving needs of the Millennial consumer and a new generation of business models delivering a better Shared Experience. Find out what this consumer wants and how that's driving the Sharing Economy in this new presentation:

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Millennials and the $335 Billion Sharing Economy

  1. www.TotalYouthResearch.com Sharing Economy Millennials and the $335 Bn
  2. Youth, Students, Teens, Millennials, Generation Y, Generation Z TOTAL YOUTH RESEARCH
  3. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy if you want to access the FREE case study to go with this presentation click the link in the next slide
  4. www.TotalYouthResearch.com CLICK BUTTON to ACCESS this 
 FREE case study giving you 
 background insights for this presentation
  5. www.TotalYouthResearch.com is much less important than the nature of the content the act of sharing itself
  6. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy that means…
  7. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy the winners in this new economy will be…
  8. www.TotalYouthResearch.com Those that focus on …JOINING THE DOTS
  9. www.TotalYouthResearch.com
  10. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy So, let’s look inside the Sharing Economy
  11. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size
  12. www.TotalYouthResearch.com $335 billion by 2030 (source PWC)
  13. Share the love don’t forget to 
 hit the LIKE button so other Slideshare users can discover this too www.TotalYouthResearch.com
  14. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Creating a few young billionaires along the way
  15. www.TotalYouthResearch.com
  16. www.TotalYouthResearch.com
  17. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …and some crazy valuations
  18. www.TotalYouthResearch.com WeWork : biggest player in CoWorking
  19. www.TotalYouthResearch.com UBER is the biggest player
  20. www.TotalYouthResearch.com AirBnB : biggest player in Travel
  21. www.TotalYouthResearch.com UBER > Facebook?
  22. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy so, let’s look at business models inside the Sharing Economy…
  23. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models
  24. www.TotalYouthResearch.com We need better solutions to Everyday Problems
  25. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy The Sharing Economy touches many vertical sectors…
  26. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy e.g. car sharing
  27. www.TotalYouthResearch.com Models focused on consumer pain points
  28. www.TotalYouthResearch.com Simple solutions to everyday problems
  29. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy coworking spaces…
  30. www.TotalYouthResearch.com
  31. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy shared accommodation
  32. www.TotalYouthResearch.com
  33. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Understand this shift as one from Loudspeaker to Telephone models
  34. www.TotalYouthResearch.com LOUDSPEAKER MODEL TELEPHONE MODEL
  35. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
  36. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …and young people are at the forefront of that change…
  37. www.TotalYouthResearch.com
  38. www.TotalYouthResearch.com Millennials are the change makers
  39. www.TotalYouthResearch.com CHANGE Mobile  Millennials  Changing  Business Access Experience Mobile Customer Experience The Sharing Economy AutoHealth Retail Finance Travel Millennial customer expectations Mobile enabled disruption Vertical sectors affected Lookup Culture
  40. www.TotalYouthResearch.com “Here is a generation that has grown up comfortable with the idea of sharing. What’s interesting is that while Gen Y is comfortable with that concept, Gen Z will expect it.”
  41. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy So, what exactly do young people want?
  42. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers
  43. www.TotalYouthResearch.com Sell not the the EXPERIENCE THING
  44. www.TotalYouthResearch.com Shared Experience Access Experience Ownership Things 21st Century Gen Y & Z Traditional Post-War Values
  45. www.TotalYouthResearch.com
  46. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
  47. www.TotalYouthResearch.com
  48. www.TotalYouthResearch.com 57% said “Access is the new Ownership” (source PWC 2014)
  49. www.TotalYouthResearch.com
  50. www.TotalYouthResearch.com Millennials comfortable with the idea
  51. www.TotalYouthResearch.com 78% of Millennials said they would rather spend their money on Experiences not “things” (source PWC 2014)
  52. www.TotalYouthResearch.com
  53. www.TotalYouthResearch.com 68% said they were willing to rent or share personal items (source Nielsen 2014)
  54. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Let’s look at the key Economic and Social Drivers of Shared Experience…
  55. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers 4. Economic Factors
  56. www.TotalYouthResearch.com We are still here
  57. www.TotalYouthResearch.com 86% said the Sharing Economy made life more affordable (source PWC)
  58. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Loaded with debt, young people are questioning everything…
  59. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy including traditional rites of passage, like car ownership…
  60. www.TotalYouthResearch.com 53% of Millennials said they would participate in car sharing programs (source Zipcar 2013)
  61. www.TotalYouthResearch.com 21-34 year olds bought 27% of new cars in the US 
 (down from 38% in 1984) 
 (Source Shareable 2014)
  62. www.TotalYouthResearch.com http://www.google.com/trends/explore#q=car%20insurance Data  on  Google  searches  for  “car  insurance”  shows  a   steady  decline.  
  63. www.TotalYouthResearch.com http://www.google.com/trends/explore#q=carsharing Yet,  Google  searches  for  “carsharing”  continues  to   increase.
  64. www.TotalYouthResearch.com 51% said membership of car sharing programs meant they didn’t have to buy a car (source AlixPartners 2014)
  65. www.TotalYouthResearch.com same different EXPERIENCE THING
  66. www.TotalYouthResearch.com Car Ownership is a “Problem”
  67. www.TotalYouthResearch.com The average American
 uses their car only 8% of the time (Source New Dream 2014)
  68. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy and it’s not just the cost of owning “stuff” but also how we work…
  69. www.TotalYouthResearch.com 82% of Millennials said businesses will be completely built by virtual teams within 10 years (source Affluence Collaborative 2014)
  70. www.TotalYouthResearch.com 40% of the population will be working independently by 2020 (source Emergent Research 2014)
  71. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Now, let’s go deeper and look at the social and emotional drivers of The Sharing Economy
  72. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers 4. Economic Factors 5. Social Isolation
  73. www.TotalYouthResearch.com We are by design SOCIAL
  74. www.TotalYouthResearch.com “30 years ago, extreme sports were rare because young people didn’t need them: they played on construction sites, ate peanut butter sandwiches and cycled without helmets. Heck, they even went to school when it snowed.”
  75. www.TotalYouthResearch.com We are losing contact OFFLINE ANALOG
  76. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
  77. www.TotalYouthResearch.com Not selling accommodation but friendship…
  78. www.TotalYouthResearch.com
  79. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy in play and in work
  80. www.TotalYouthResearch.com 84% of Coworkers said “Interaction with People” was the most important aspect of Coworking (source Deskmag 2014)
  81. www.TotalYouthResearch.com 80% of Coworkers said they were “less isolated” than before using Coworking spaces (source Deskmag 2014)
  82. www.TotalYouthResearch.com 70% reported feeling healthier in a Coworking space than in a traditional office setting (source OfficeVibe 2014)
  83. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy and young people are turning to each other to make it happen…
  84. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers 4. Economic Factors 5. Social Isolation 6. New Dynamics of Trust
  85. www.TotalYouthResearch.com “As marketing is the key difference between success and failure, we are now witnessing the birth of business models where the marketing is baked into the service day one.”
  86. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
  87. www.TotalYouthResearch.com
  88. www.TotalYouthResearch.com it’s all about trust
  89. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy young people turn to each other for influence and opinion
  90. www.TotalYouthResearch.com
  91. www.TotalYouthResearch.com
  92. www.TotalYouthResearch.com 78% said online interactions made them more open to the idea of sharing economy (source Shareable 2014)
  93. www.TotalYouthResearch.com
  94. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
  95. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …because in youth marketing people > brands
  96. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy thank you
  97. Youth, Students, Teens, Millennials, Generation Y, Generation Z TOTAL YOUTH RESEARCH
  98. Share the love don’t forget to 
 hit the LIKE button so other Slideshare users can discover this too www.TotalYouthResearch.com
  99. www.TotalYouthResearch.com SOCIAL ECONOMIC TECHNOLOGYBUSINESS Decline in social interaction esp. unstructured, offline, analog face-to- face interaction Growth in Sharing Economy business models. Importance of peer-to-peer recommendation and word of mouth Access to information via mobile and online. Growing ability to implement and acceptance of peer based review platforms Pressure on ownership of material goods. Rise in personal / student debt for Gen Y & Z GROWTH IN SHARING ECONOMY
  100. www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy if you want to access the FREE case study to go with this presentation click the link in the next slide
  101. www.TotalYouthResearch.com CLICK BUTTON to ACCESS this 
 FREE case study giving you 
 background insights for this presentation
  102. www.TotalYouthResearch.com Get  the  ulBmate   guide  to  youth   generaBons  Y  &  Z     Get  answers  to  these  3  quesBons:   Who  are  they?   What  do  they  want?   How  do  we  give  it  to  them? www.totalyouthresearch.com/total-­‐youth-­‐handbook  

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