Will collaborative consumption disrupt traditional business models

Will collaborative consumption disrupt traditional business models

collaborative consumption disrupt traditional business models

Collaborative consumption – shared economy – describes the rapid explosion in traditional sharing, bartering, lending, trading, renting, gifting, and swapping reinvented through network technologies on a scale and in ways never possible before.

Will collaborative consumption disrupt business

From enormous marketplaces such as eBay, to emerging sectors such as social lending, peer-to-peer hotels and car sharing, collaborative consumption is disrupting outdated modes of business and reinventing not just what we consume but how we consume.

The true innovative spirit of collaborative consumption can be found in start-ups like Brooklyn-based SnapGoods, which helps people rent goods via the Internet. Or Airbnb, which allows people to rent their homes to travelers. Renting a power drill via SnapGoods for the one day you need it is a lot cheaper than buying it.

But the real benefit of collaborative consumption turns out to be social. In an era when families are scattered and we may not know the people down the street, sharing things – even with strangers we’ve just met online – allows us to make meaningful connections.

And it’s the young who are leading the way toward a different form of consumption, a collaborative consumption: renting, lending and even sharing goods instead of buying them.

How collaborative consumption will change our world

Rachel Botsman explains how collaborative consumption will change our world:

 

Will companies have to join the sharing economy?

To thrive in this brave new world, companies will have to reinvent themselves leveraging collaborative technology to connect with their customers and giving them “access” to products or services, rather than “selling” them products or services. This will radically change the way products (or services) are created, distributed, priced, accessed (not owned) and consumed.

At some point businesses have to produce the products that are traded or swapped on-line. But as collaborative consumption becomes more practical and popular, how do you think it will shift our economy as a whole? Will it disrupt “traditional” business models?

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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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