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Sharing is the New Buying: How to Win the Collaborative Economy

SHARING IS THE NEW BUYING HOW TO WIN IN THE COLLABORATIVE ECONOMY IN THE COLLABORATIVE ECONOMY, PEOPLE CAN GET WHAT THEY NEED FROM EACH OTHER - RATHER THAN BUYING FROM ESTABLISHED BRANDS. BUSINESSES NEED TO UNDERSTAND THIS EMERGENT MARKET IN ORDER TO EMBRACE THE OPPORTUNITIES IT OFFERS. "The data shows that new forms of peer-to-peer sharing like custom products, loaner vehicles and crowdfunding will double in adoption over the next year. Businesses must pay attention-or risk being disrupted." JEREMIAH OWYANG, CHIEF CATALYST, CROWD COMPANIES CROWD COMPANIES AND VISION CRITICAL ASKED IN THE US, CANADA, AND THE UK ABOUT THEIR 90,112 PEOPLE PARTICIPATION IN THE COLLABORATIVE ECONOMY. NON-SHARERS have yet to engage in the 80 MILLION collaborative economy. 23% SHARERS IN O RE-SHARERS USA buy and/or sell pre-owned goods online using 61% 16% well-established services like eBay and Craigslist. 23% 23 MILLION O NEO-SHARERS SHARERS IN 48% UK have used at least one of the 29% latest generation of sharing 25% 10 MILLION sites and apps, like Etsy, SHARERS IN TaskRabbit, Uber, Airbnb and 59 16% CANADA KickStarter. SHARING IS GROWING IN EVERY CATEGORY OF SHARING EXCEPT BUYING AND SELLING PRE-OWNED GOODS, AT LEAST AS MANY PEOPLE INTEND TO SHARE IN THE NEXT 12 MONTHS AS HAVE SHARED IN THE PAST 12 MONTHS. THE COLLABORATIVE ECONOMY: 2013 AND 2014 2013 PARTICIPATION 2014 PARTICIPATI ON (PROJECTED FROM INTENT) PRE-OWNED GOODS 46% GOODS LOANER PRODUCTS CUSTOM PRODUCTS 18% PROFESSIONAL SERVICES 13% SERVICES PERSONAL SERVICES 16% TRANSPORTATION SERVICES 9% TRANSPORTATION LOANER VEHICLES 9% OFFICE SPACE 7% SPACE PLACE TO STAY 13% MONEYLENDING 10% MONEY CROWDFUNDING 12 % Which kinds of sharing have you done in the past 12 months? Which do you plan to try in the next 12 months? / Asked October-December 2013 SHARING IS MAINSTREAM OTHER THAN BEING A BIT YOUNGER THAN THE GENERAL POPULATION, SHARERS LOOK A LOT LIKE EVERYBODY ELSE. SHARERS: AGE AND LIFESTYLE NON-SHARERS RE-SHARERS NEO-SHARERS FEMALE 50% 50% 55% 45% 51% ) 49* MALE 18-34 24% 19* 31% 28% 38% 48% 35-54 33% 55+ 38% 41% 33 38 27 MARRIED KIDS IN 25% 32 36* HOUSEHOLD 66% 67% 62% HOMEOWNER Demographic and lifestyle data from past profiling studies "Forget the image of sharers as techno-savvy urban hipsters. Sharers look a lot like every other customer, which means any of your customers could be sharers." ALEXANDRA SAMUEL, VP SOCIAL MEDIA, VISION CRITICAL SHARING IS PRAGMATIC MOST SHARING IS DRIVEN BY PRACTICAL CONSIDERATIONS LIKE PRICE AND CONVENIENCE REASONS FOR SHARING RE-SHARERS E NEO-SHARERS | 75% 73% CONVENIENCE 60% 55% BETTER PRICE PRODUCT/SERVICE QUALITY 47% | 26 COULDN'T FIND ELSEWHERE 40% 29 RECOMMENDATION 40% | 27% | 30% SUSTAINABLE LIFESTYLE 18 CONNECT ONLINE 27% CURIOSITY | 26% 23% 24% CONNECT LOCALLY ACCESS OVER OWNERSHIP 13 13 OTHER How important were each of the following reasons for using a peer-to-peer site or app for your latest sharing transaction? / Asked December 2013-January 2014 "The brands that win in the collaborative economy will be the brands that know how to listen to and collaborate with their customers." ANDREW REID, PRESIDENT, FOUNDER & CHIEF PRODUCT OFFICER, VISION CRITICAL SHARING IS SATISFYING SHARERS ARE DELIGHTED WITH SHARING SERVICES...AND WITH THE GOODS AND SERVICES THEY GET FROM SHARING. RATING THE SHARING EXPERIENCE BUYERS SELLERS QUALITY 80% SITE USAGE EXPERIENCE 79% 72% VALUE 79% CUSTOMER SERVICE 71% 62% PURCHASE EXPERIENCE 81% PURCHASE/SALE EXPERIENCE 69% PRODUCT/SERVICE EXPERIENCE 81% PRICE/EARNINGS 60% How satisfied were you with the following aspects of your latest sharing transaction? / Asked December 2013-January 2014 LEARN HOW YOUR BUSINESS CAN WIN IN THE COLLABORATIVE ECONOMY DISCOVER WHY THE GROWTH OF THE COLLABORATIVE ECONOMY IS A GROWING THREAT TO BIG BRANDS. UNDERSTAND THE WHO, WHAT AND WHY OF THE COLLABORATIVE ECONOMY. GET RECOMMENDATIONS BACKED BY DATA ON HOW YOUR BUSINESS CAN RESPOND. GET THE FULL REPORT AT HITP://LNK.VC/SHARINGBUYING CROWD VISIONCRITICAL COMPANIES HTTP://CROWDCOMPANIES.COM HTTP://VISIONCRITICAL.COM

Sharing is the New Buying: How to Win the Collaborative Economy

shared by visioncritical on Mar 03
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Who are the people sharing in the collaborative economy, and what can businesses do to win in this emergent market? These questions are the focus "Sharing is the New Buying: How to Win in the Collabo...

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