According to “Sharing is the New Buying,” a new study sponsored by insight technology company Vision Critical and brand council Crowd Companies, customers are eagerly embracing the “Collaborative Economy.” Unlike traditional ways of buying or selling, the Collaborative Economy allows customers to get their goods and services both from each other (like on eBay), as well making them outright and in a survey of 90,112 U.S., U.K, and Canadian customers, Vision Critical and Crowd Companies found that sharers make up 40% of the population.
So what does this mean for big brands? Companies must change tack and shift their business strategies, say Vision Critical and Crowd Companies, in order to prepare for the new economy in which people get what they need from each other. In particular, some market opportunities include:
- Offering “lifestyle as a service” to younger and more affluent markets
- Bringing new marketplace business models to opportunity-rich urgan areas
- Driving sharing with social media marketing
- Marketing the direct benefits of sharing services
For more information, check out the entire report on Slideshare: