Drivers of Collaborative Consumption

What drives collaborative consumption?

I am exploring the concept of "Collaborative Consumption", because I why it is an emerging trend in order to find out whether it is a concept that should be implemented by firms.

A lot of people are talking about the new way of consumption – the sharing economy. In Berlin a conference took place just about a month ago, so there are discussions going on.

But why are they even talking about it, why is there a need for collaborative consumption?

In my research I found out that there are three main categories that promote the collaborative consumption: Technology, Economy and Society

Technology

Who does not have a facebook account? Currently a statistic of March 2013 reveals that there are 1.11 billion users. And what to people do on facebook? – They share a huge amount of information: photos, likes, dislikes, friends etc. This is exactly one contributor to the rise of collaborative consumption.The social networking is increasingly immensely.

Besides mobile devices play a more important role in the daily life. People are communicating more and consequently they are sharing more information. Platforms are also expanding and encouraging the flow of information.

Economy

In the economic sector the financial flexibility is of higher value. People being more flexible and independent are more likely to also share instead of just investing.

People also like the idea to own something. With sharing this is facilitated because people have more access to certain goods that for example haven’t been affordable before.

Moreover the global recession requires a change so that people are searching for alternate ways of living.

Society

One driver is definitely the increasing population rate, because there are often more people than there are resources. Thus they are willing to share in order to increase access to those resources.

Furthermore there is a need for sustainability in the world which encourages people to share.

Additionally there is a desire for community. Nobody wants to be alone and experts like Rachel Botsman and Roo Rogers, the authors of the famous book "What’s Mine is Yours: The Rise of Collaborative Consumption" believe that

Collaborative Consumption is enabling people to realize the enormous benefits of access to products and services over ownership, and at the same time, save money, space and time, make new friends, and become active citizens once again.

Conclusion

The Collaborative Consumption is a trend that arises from certain developments in the economic, social and technological sector. Thus it is of great importance that companies realize this movement and try to adapt their concepts to it.

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