It’s time for entrepreneurs and marketers to get ready! This presentation from Rachel Botsman, the co-author of What’s Mine is Yours: The Rise of Collaborative Consumption, presents great opportunities for innovators in the future. But, what is it? Collaborative Consumption describes the increase in trading, borrowing, bartering, and renting due to advancements in technology. People are able to share products, services, and information more than ever before.
Top Level Summary:
- People buy products for the intangible benefits they get from them. You don’t buy a DVD because you want the physical DVD -- you buy it because you want the movie that is on the DVD. (Why do you think Netflix online streaming is so popular?)
- Collaborative Consumption is driven by four pillars:
- A renewed belief in the importance of community.
- A torrent of peer-to-peer social networks and real time technologies.
- Pressing unresolved environmental concerns, and.
- A global recession that has fundamentally shocked consumer behaviors.
- We have begun to live more collaborative lifestyles. Examples include the use of Wikipedia, Zipcar, Tradetree.com, and many more.
We are already in the transition from an ownership based economy to a collaborative based one. It’s happening now!