Collaborative consumption

HELLO FROM TMW

Collaborative consumption:Not a made-up thing

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What is it?

Coined by Marcus Felson and Joe L. Spaeth

“Community Structure and Collaborative Consumption: A routine activity approach"

Published in 1978 in the American Behavioral Scientist.

The paper dealt with car-sharing.

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"A new socio-economic 'big idea' promising a revolution in the way we consume."

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"It's not a case of not buying anything, it's a case of not buying everything."

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Product service systems

Pay for the benefit of using a product without needing to own the product outright.

Collaborative lifestyles

People with similar interests are banding together to share and exchange less

tangible assets such as time, space, skills, and money.

Redistribution markets

Redistribute used or pre-owned goods from where

they are not needed to somewhere or someone

where they are.

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Why should marketers care?

Why share? ‘Me’ meets ‘We’ mindsetWho’s sharing? Gen X, high incomeBarriers: Trust, value, qualityBest market segments: Goods (for now)

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For marketers, collaborative consumption:

1. Creates new markets via access vs. ownership2. Taps consumer ‘me’ meets ‘we’ mindset3. Extends customer relationship from ‘point in time’ to ‘points across time’4. Enables hassle-free trial5. Creates word of mouth through user community

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Thank you

@vikkichowneyvchowney@tmw.co.uk

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