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Wednesday, 22 December 2010

We Consume, We Collaborate

The Harvard Business School describes the Collaborative Consumption movement as:

“A socioeconomic groundswell that will transform the way companies think about their value propositions.”

Ted describes the presenter, Rachel Botsman,  as:

"... a social innovator who writes, consults, and speaks on the power of collaboration and sharing through network technologies, and on how it will transform business, consumerism and the way we live."

P2P file sharing and online technologies are transforming the way we share and trade, and on a scale that was never before dreamed of.

from rachel botsman on Vimeo

When all is said and done, the Collaborative Consumption model is a logical extension of the social media revolution.

This infographic shows the rise of collaborative consumption, including figures from LendingClub, a US p2p lender.

There are four fundamental forces that are reshaping global consumption behavior: the global recession, the re-emphasis on community, broader environmental awareness, and online networking technologies.

Online sharing can contribute to profit making.  Businesses such as EBay and new Zealand's premier site, TradeMe, have already harnessed the power of collaborative consumption or to put it in simple terms "sharing".
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