The consumer powered revolution – The rise of the share economy

The consumer powered revolution – The rise of the share economy

reasons why people resist change

The rise of the share economy is quietly turning millions of people into part-time entrepreneurs, and disrupting old notions about consumption and ownership.

From social lending, peer-to-peer hotels and car sharing, the rise of the share economy is reinventing not just what we consume but how we consume. A movement that couldn’t have worked out before social media platforms.

The rise of the sharing economy

The consumer powered revolution

Rather than customers buying products they borrow, rent and share instead. Millennials – Generation Y -, and many others with them, are thinking of new ways to do business.

Communal effort and the desire for a more sustainable and beneficial future are driving forces of the generation. With this spirit and an increasing distrust of old systems as a foundation, the peer-to-peer business model is becoming more and more common. They don’t buy newspapers – they grab and disseminate stories a la carte via Facebook, Twitter and Flipboard. They don’t buy DVD sets – they stream movies and shows. They don’t buy CDs – they subscribe to music on services such as Spotify, Napster or Pandora.

 

Given the social, group-think nature of Millennials and their inherent knowledge of the internet, it is no surprise that peer-to-peer has been growing, and evolving beyond goods exchange to revolutionize other business categories as well.

SHARE – Magazine – Germany

Volunteers of the Burda School of Journalism have developed a lifestyle magazine “SHARE”. It will be flanked by a blog and activities on Facebook and Twitter.

SHARE – Magazine - Germany

Is this a movement as important as when the web browser came out? Or is it just some small blip?

Short URL & title:
The consumer powered revolution – The rise of the share economy — http://www.torbenrick.eu/t/r/mpi

About The Author

Torben Rick

Experienced senior executive, both at a strategic and operational level, with strong track record in developing, driving and managing business improvement, development and change management. International experience from management positions in Denmark, Germany and Switzerland.

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