Sharing is the New Buying: How to Win in the Collaborative Economy [INFOGRAPHICS]

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Information about Sharing is the New Buying: How to Win in the Collaborative Economy...
Business & Mgmt

Published on March 3, 2014

Author: visioncritical

Source: slideshare.net

Description

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.

In partnership with Jeremiah Owyang of Crowd Companies, Vision Critical asked 90,112 people in the US, Canada and the UK about their participation in the Collaborative Economy. These infographics show our report's key findings.

To read the full report: http://bit.ly/SharingNewBuyingSH

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. CROWD COMPANIES AND VISION CRITICAL ASKED 90,112 PEOPLE IN THE US, CANADA, AND THE UK ABOUT THEIR PARTICIPATION IN THE COLLABORATIVE ECONOMY. THE FOLLOWING INFOGRAPHICS SHOW OUR REPORT’S KEY FINDINGS.

NON-SHARERS have yet to engage in the collaborative economy. RE-SHARERS buy and/or sell pre-owned goods online using well-established services like eBay and Craigslist. NEO-SHARERS have used at least one of the latest generation of sharing sites and apps, like Etsy, TaskRabbit, Uber, Airbnb and KickStarter.

A TAXONOMY OF THE COLLABORATIVE ECONOMY: CATEGORIES AND EXAMPLES PRE-OWNED GOODS GOODS LOANER PRODUCTS CUSTOM PRODUCTS MAKER MOVEMENT SER VICES PROFESSIONAL SERVICES PORTAT I N TR NS O A PERSONAL SERVICES RE-SHARERS TRANSPORTATION SERVICES NEO-SHARERS LOANER VEHICLES SPACE OFFICE SPACE PLACE TO STAY MONEY MONEYLENDING CROWDFUNDING MAKER MOVEMENT

WORLD OF SHARING 23 % 16 % 61 % 80 MILLION SHARERS IN USA 23 % 48 % 29 % 10 MILLION 25 % 59 % 23 MILLION SHARERS IN UK SHARERS IN 16 % NON-SHARERS CANADA RE-SHARERS NEO-SHARERS In the past 12 months, have you ever used a website or mobile app for any of the following [sharing services]? / Asked Oct-Dec 2013

PARTICIPATION IN THE COLLABORATIVE ECONOMY BY CATEGORY 34 % PRE-OWNED GOODS GOODS 5% LOANER PRODUCTS SERVICES TRANSPORTATION SERVICES 4% OFFICE SPACE 3% MONEYLENDING MONEY CROWDFUNDING ALL RESPONDENTS 35 % 4% LOANER VEHICLES PLACE TO STAY 27 % 8% PERSONAL SERVICES SPACE 38 % 6% PROFESSIONAL SERVICES TRANSPORTATION 23 % 9% CUSTOM PRODUCTS 18 % 17 % 12 % 7% 5% 6% 67 % 29 % 20 % 27 % NEO-SHARERS In the past 12 months, have you ever used a website or mobile app for any of the following? / Asked Oct-Dec 2013

PARTICIPATION IN THE COLLABORATIVE ECONOMY: RECENT AND PROJECTED 46 % PRE-OWNED GOODS GOODS 11 % LOANER PRODUCTS 18 % CUSTOM PRODUCTS 13 % PROFESSIONAL SERVICES SERVICES 16 % PERSONAL SERVICES SPACE MONEY 9% LOANER VEHICLES TRANSPORTATION TRANSPORTATION SERVICES 9% 7% OFFICE SPACE 13 % PLACE TO STAY MONEYLENDING CROWDFUNDING 2013 PARTICIPATION 2014 PARTICIPATION 10 % 12 % (PROJECTED FROM INTENT) In the past 12 months, have you ever used a website or mobile app for any of the following? In the next 12 months, will you use a website or mobile app for any of the following? / Asked Oct-Dec 2013

BASIC DEMOGRAPHICS 50 % 50 % 55 % NON-SHARERS 45 % 24 % 49 % NEO-SHARERS RE-SHARERS FEMALE 38 % 51 % MALE 19 % 28 % 31 % 48 % 38 % 33 % 41 % NON-SHARERS NEO-SHARERS RE-SHARERS 18-34 35-54 55+ Demographic and lifestyle data from past profiling studies

LIFESTYLE CHOICES NON-SHARERS KIDS IN HOUSEHOLD NEO-SHARERS 33 % 38 % 27 % 25 % 32 % 36 % 66 % MARRIED RE-SHARERS 67 % 62 % HOMEOWNER Demographic and lifestyle data from past profiling studies

PARTICIPATION IN ONLINE ACTIVITIES 68 % 86 % 85 % 55 % 66 % 73 % 32 % 40 % 57 % 29 % 39 % 55 % 22 % 29 % 44 % ONLINE SHOPPING SOCIAL NETWORKING WATCHING VIDEOS/PODCASTS SHARING PHOTOS STREAMING MUSIC NON-SHARERS RE-SHARERS NEO-SHARERS “Which of the following activities do you do on the Internet?”/ Asked May 2013

PARTICIPATION IN THE COLLABORATIVE ECONOMY: NY, TOP 10 METRO AREAS & REST OF USA 18-34 29 % 35-54 38 % METRO NYC 28 % 25 % LOANER PRODUCTS 8% 36 % TOP 10 URBAN CENTRES 29 % 37 % OUTSIDE TOP 10 METRO AREAS SERVICES OUTSIDE TOP 10 METRO AREAS 30 % 7% 32 % 5% CUSTOM PRODUCTS 36 % 33 % TOP 10 URBAN CENTRES METRO NYC PRE-OWNED GOODS GOODS 33 % 55+ 12 % 11 % PROFESSIONAL SERVICES 10 % 9% PERSONAL SERVICES 11 % 9% 6% 11 % 8% SPACE MONEY 6% 7% 4% LOANER VEHICLES TRANSPORTATION TRANSPORTATION SERVICES 8% 6% 3% OFFICE SPACE 5% 5% 2% PLACE TO STAY 11 % 9% 6% MONEYLENDING 8% 6% 5% CROWDFUNDING 11 % 8% 6% In the past 12 months, have you ever used a website or mobile app for any of the following? / Asked Oct-Dec 2013

WHY THEY SHARED 75 % 73 % CONVENIENCE BETTER PRICE 55 % 36 % PRODUCT/SERVICE QUALITY 26 % COULDN’T FIND ELSEWHERE 27 % SUSTAINABLE LIFESTYLE 18 % CONNECT ONLINE ? 17 % CURIOSITY + OTHER 40 % 6% RE-SHARERS 30 % 27 % 26 % 23 % 24 % CONNECT LOCALLY ACCESS OVER OWNERSHIP 47 % 40 % 29 % RECOMMENDATION 60 % 13 % 13 % 13 % How important were each of the following reasons for using a peer-to-peer site or app for your most recent sharing transaction? / Asked Dec 2013-Jan 2014 NEO-SHARERS

HOW PEOPLE FIND SHARING SERVICES WORD OF MOUTH TRADITIONAL MARKETING GOOGLE OR OTHER WEB SEARCH SOMEONE TOLD ME ABOUT IT 16 % NEWS MEDIA 8% 47 % ONLINE AD SOCIAL NETWORK 13 % BLOG 3% UNKNOWN CAN’T RECALL 25 % OTHER 6% 7% EMAIL FROM WEBSITE 5% PRINT OR TV AD 2% APP STORE 2% How important were each of the following reasons for using a peer-to-peer site or app for your most recent sharing transaction? / Asked Dec 2013-Jan 2014

SATISFACTION WITH SHARING TRANSACTIONS QUALITY 80 % VALUE 79 % PURCHASE EXPERIENCE 81 % PRODUCT/SERVICE EXPERIENCE 81 % SITE USAGE EXPERIENCE 79 % 72 % CUSTOMER SERVICE 71 % 62 % PURCHASE/SALE EXPERIENCE 69 % PRICE/EARNINGS 60 % BUYERS SELLERS How important were each of the following reasons for using a peer-to-peer site or app for your most recent sharing transaction? / Asked Dec 2013-Jan 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 HTTP://LNK.VC/SHARINGBUYING

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