THESHAR INGECONOMY

What's mine is yours...

Photo: Yanalya ­ Freepik

"The peer-to-peer-based activity of obtaining, giving,

or sharing the access to goods and services,coordinated through community-based online

services" [1]

Photo: Canva

Photo: Mrsiraphol ­ Freepik

What do we share?

Movies and TV shows

Our homes

Our cars

Our music

Homes for dogs

Mini­van rental$40 a day

Roof Rack$7 a day

Surfboard$9 a day

Beach Chairs$5 a day

Bike$10 a day

Photo: Unsplash ­ Pixabay

Beach Coverup$45 a week

You can have everything without owning a thing

86%of people agree thatthe sharing economymakes life more

affordable [2]

Photo: Canva

"has reduced transactioncosts, making sharing assetscheaper and easier than

ever"

TECHNOLOGY

[3]

Photo: Canva

RAPID GROWTHof the sharing economy can be attributed to two factors:

1 Technology Innovations

Supply Flexibility2Photo: Canva

[4]

We grew up in a culture where MORE was always MOREand now we have shifted to a LESS is BEST culture.

Photo: Canva

78%of people agree that

sharing builds a strongercommunity

43%of people agree

that owning things is aburden

57%of people agree

that access is the newownership

[2]

[2]

[2]

Photo: Unsplash ­ Pixabay

In a world with information abundance it is easy to get confused andfrustrated while making a purchase. This works to the benefit of the sharingeconomy because instead of pressuring advertisements on consumers, you rely

on the experiences of past users to speak for themselves.

[5]

Photo: Pressfoto ­ Freepik

ATTENTION

ECONOMY

WORD OFMOUTH

Social context ads

Social media platformsmake for a frictionless

sharing process. By the clickof a "share" button you canreach hundreds and eventhousands of potential

customers. All it takes in thesharing economy is for onesatisfied customer to sharetheir experience on social

media.

Photo: Asierromero ­ Freepik

[6]

ADVERTISING STRATEGY

MOST MEMORABLE

No matter what type of service or product the sharing platform isoffering, it needs to make sure that their advertising is creating asocial connection and make it seem like if they purchase the product

or service, they will have the MOST MEMORABLE experience.Appeal to adventure, convenience, popularity, etc.

Photo: Evening_tao ­ Freepik

[7]

CELEBRITYENDORSEMENTS

Airbnb does this really well.They give famous InstagramBloggers free trips to theirlocations around the world aslong as they dedicate time

to post photos thanking Airbnband showing followers the spacethey are staying. This shows

consumers what they could haveif they too used Airbnb. This is

applicable to any sharingservice or product.

Photo: tpsdave ­ Pixabay

[7]

Photo: Huskyherz ­ Pixabay

"The population aged 65 and over isone of the fastest growing age groups. According to

U.S. Census Bureau, older adults aged 65 and over willsoon outnumber children under the age of 5." The

sharing economy can capitalize on this. [8]

MAKING

AGING

SAFER

New gadgets and services in the sharing economy are making it easier forelderly people to stay in their homes longer and keep their independence.Such as the snow removal and grass cutting companies that are similar to anUber concept are allowing for seniors to contract this work out by the click of

a button on an app.

[9]

Photo: Stevepb ­ Pxabay

"with good data at their disposal, publishers can focustheir marketing efforts with more precision."

"Digital technology has changed the way books are soldand published, but it has opened up new possibilities forunderstanding how people read, as they read. Can a

paperback do that?"

the way we read

[10]

[10]

Photo: Unsplash ­ Pixabay

BETTERIt's

FOR THE ENVIRONMENT

of people agree

76%[11]

Photo: Pezibear­ Pixabay

"...everything from cars and bikes to vacant rooms and abandoned toys — isotherwise sitting idle, stranded assets that occupy space and are seldom

used."[11]

Photo: TBIT ­ Pixabay

SAVINGMONEY

of people agree it is less expensive to sharegoods than to own them individually

81%[5]

Photo: Asierromero ­ Freepik

CONCERNS

A COUPLE of

1 72% of people agree they feelthat the sharing economyexperience is not consistent

2 69% agree they will not trustsharing economy companiesuntil they are recommended by

someone they trust. [5]

HopAboardshare in the experience

Photo: ed2456 ­ Pixabay

Works Cited

[1] Hamari, Juho, and Antti Ukkonen. "The Sharing Economy: Why People Participate in Collaborative Consumption." SSRN Electronic

Journal (2015): n. pag. Web.

[2] "Consumer Intelligence Series: The Sharing Economy: PwC." Consumer Intelligence Series. PwC, n.d. Web. 21 Oct. 2016.

[3] Leaders. "The Rise of the Sharing Economy | The Economist." The Economist. The Economist Newspaper Limited, 9 Mar. 2013. Web.

18 Oct. 2016.

[4] Byers, John, Davide Proserpio, and Georgios Zervas. "The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the Hotel

Industry." SSRN Electronic Journal (2016): n. pag. Web. 19 Oct. 2016.

[5] Media Use Research – Module one, Part two. By Sidneyeve Matrix. 21 Sept. 2016. Performance.

[6] Consumer Culture – Module two, Part one. By Sidneyeve Matrix. 28 Sept. 2016. Performance.

[7] Advertising Strategies – Module two, part one. By Sidneyeve Matrix. 28 Sept. 2016. Performance.

[8] Kim Kyungo, Chodzko Zajko Wojtek, Andiara Schwingel, Deanna C McDonagh. “Understanding older individuals’ emotional responses

to new technology associated with healthy lifestyle choice.” Journal of Physical Education and Sport, Kyungil University, 25 Jun. 2014.

Web. 18 Oct. 2016.

[9] Gustke, Constance. "Technology, While Not a Fountain of Youth, Can Make Aging ..." The New York Times. The New York Times

Company, 24 July 2015. Web. 18 Oct. 2016.

[10] Alba, Davey. "Publishers Are Lining Up Behind ‘Netflix for Books ..." Wired. Wired Business, 13 Jan. 2015. Web. 19 Oct. 2016.

[11] Rubicon. "Wharton and Rubicon: How Green Is the Sharing Economy?" Wharton School of the University of Pennsylvania. Wharton

School of the University of Pennsylvania, 11 Dec. 2015. Web. 19 Oct. 2016.