Whats Mine is Yours

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WHAT'S MINE IS YOURS Caroline Bracken Tuesday 25 th October 2011

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Transcript of Whats Mine is Yours

Page 1: Whats Mine is Yours

WHAT'S MINE IS YOURS

Caroline Bracken

Tuesday 25th October 2011

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Introduction

Key Learning's of What's Mine is Yours Understanding of Collaborative Consumption and

how it is changing the way we live Consumer Behaviours What we consume and how we consume it

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COLLABORATIVE CONSUMPTION

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Collaborative Consumption – What is it all about?

Peer to peer exchanges between producer and consumer, seller and buyer, lender and borrower, and neighbour and neighbour

Face to face v Online Everyday event creating a culture and

economy of what’s mine is yours Explosion of online collaboration and

virtual communities - examples: Airbnb, ebay, Craigslist and CouchSurfing

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Collaborative Consumption - What's it all about?

Creative innovative systems based on shared usage such as bikes or car sharing

Bike Sharing fastest growing form of transportation in the world and car pooling in the US has grown by 51.5% since 2008

Future is bright for companies: Peer to peer social lending-

$5Billion by 2013 Swap Market - Children's Clothing-

$3Billion Car sharing - $12.5Billion Industry

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Food For Thought……

In the 20th century of hyper- consumption we were defined by credit, advertising and what we owned, in the 21st century of Collaborative Consumption we will be defined by reputation, by community, and by what we can access and how we share and what we give away”

As British author and former advisor to Tony Blair, Charles Leadbeater commented:

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MODERN CONSUMERISM

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Negative Consequences of Modern Consumerism

Past 50 years we have consumed more goods and services than ever

Since 1980 we have consumed 1/3 of the planets resources Deforestation – 250 million acres annually Americans- worlds worst environmental offenders

- 21,000 tonnes of petrol- 220,000 kilos of steel - 2.5 litres of water- The wood of 1,000 trees- 800,000 watts of electrical energy

On an international scale:- Twice that of a Swede- 3 times of an Italian- 13 Times of a Brazilian- 35 Times of an Indian- 280 times of a Haitian

Need for 5 planets to sustain them during their lifetime

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The Great Pacific Garbage Patch

The Great Pacific Garbage Patch - worlds largest landfill x2 size of Texas 3.5 tonnes of floating garbage90% plastic, bottle caps, toys,

shoes, takeaway containers- “plastic plankton soup” 5 areas cover 40% of the sea, ¼ of earths surface Biodegradable v Non biodegradable Plastic outweighs surface plankton 6:1

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Why is this happening?

Lock in Law of unintended consequences

- Ignorance- Error- Immediate Interest- Basic Values- Self Defeating Prophecy

Incontrollable throw away habits- UK: man woman and child combined can fill the Royal

Albert Hall every 2 hours- 30% recycled/composted, 13% Incinerated, Remaining

Landfills- US waste retention experiment

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Storage…is it More Waste….?

Australians spend $10.8 billion on goods they do not use Waste = difference between the stuff we buy and what we use Storage extends the capacity to own more things Bigger houses, garages, smaller families and the need for more

storage Fight Club- you do not talk about fight club and the things you

own end up owning you We work hard to acquire more stuff but feel unfulfilled because

there is always something better, bigger and faster, than in the present

The more we have the more we want

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Hyper Consumerism

A crowd of exhausted consumers knocking down the doors and ploughing down people simply to buy more stuff in Walmart

Hyper Consumerism- Power of Persuasion- Buy Now Pay Later- Law of Life Cycles- Just One More Factor

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The 4 Factors of Hyper Consumerism

The Power of Persuasion

•Connect on a deep subconscious level•Desire should be linked to human patterns•More than 3,000 advertising messages daily

Buy Now Pay Later

•Plastic V Cash experiments3 Plastic Habits:•Accelerated spending•Mindless spending •Latest and greatest spending

Law of Life Cycles

•Neophilia•Life cycle of electrical consumer products•Ford v Sloan

Just One More Factor

•Range of Choice•Fulfilment of needs and wants•Shopping and buying more stuff= happiness

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From Generation Me to Generation We

“Generation Me” of independent, self sufficient consumers

The great error of our nature is not to know where to stop, not to be satisfied with any reasonable requirement, but to lose all we have gained by insatiable pursuit of more”

Start of the “We Generation”- Shift in Values- infinite growth and consumption

based on finite resources do not mix - Example Etsy- Simplicity- Traceability- Participation

- Emersion in ICT platforms

Example www.ifwerantheworld.com

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The Rise of Collaborative Consumption

Collaborative Consumption can be arranged into 3 groups Product Service System Redistribution Markets Collaborative Lifestyles

4 Principles of Collaborative Consumption Critical Mass - Choice and social proof Idling Capacity Belief in the Commons Trust between Strangers

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3 MAIN GROUPS OF COLLABORATIVE CONSUMPTION

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Product Service System- (PSS) Access is better than

ownership

Sharing using the internet- Netflix

Service Envy- desiring services more than products

Car Saving Programs desire for one more but without the waste

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Redistribution Markets

Free cycle- no such thing is waste its useful stuff in the wrong place

Benefits: reduces waste, carbon emissions, and resources that go with making a new product

Internet gives power to its users

Good for shorterm goods

eBay Every second $2000 of

trading is done Every minute a 2nd

hand vehicle changes hands on eBay motors

The ability to determine what is fair and what’s not is vital

Principle of the people, by the people for the people environment

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Collaborative Lifestyles

Idea of using what you no longer want to get what you do need- example salsa classes for pots and pans

Coincidence of wants- both sides getting what they want Creation of Time Banks and LETS- bank of happiness Social Lending- Zopa Co working locations Couchsurfing.com New ideas with an old ethos If we let go a bit of our individualism we will recover

something we have been missing.

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DESIGN AND BRANDING

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Collaborative Design

Designers need to find balance between the needs of consumers and the collective interest of society

Design Thinking: focus on facilitation and participation

Collaborative Service System Fluidity- Virgin Atlantic Replication- Car& Bike Sharing Diversified Access- farmers market v agri

schemes Enhanced Communication Support-skill

sharing networks Designing product with longevity and with the

capacity to update- Timberland Design thinking will be critical in putting

collaborative consumption into real workable solutions

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Importance of Branding

Maslow's hierarchy of needs is the strongest model for understanding consumers

We are latching onto the rising brands of collaborative consumption through interaction and community

Nike are shifting brand focus away from products and towards building collaborative communities

Consumers want to be part of a community and want to be engaged

Brands must offer experiences and not just products

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Conclusion

We have seen the change from what’s in it for me, to what’s in it for us- social lending, food coops, car sharing

Motivations for participating in Collaborative consumption: cost, saving, social aspects, community.

In the future we will have reputation bank account, reputation rating, and peer to peer markets will be second nature to us.

A collaborative and sharing culture will be the culture

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