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Millennials and the $335 Billion Sharing Economy
- www.TotalYouthResearch.com Sharing Economy Millennials and the $335 Bn
- Youth, Students, Teens, Millennials, Generation Y, Generation Z TOTAL YOUTH RESEARCH
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy if you want to access the FREE case study to go with this presentation click the link in the next slide
- www.TotalYouthResearch.com CLICK BUTTON to ACCESS this FREE case study giving you background insights for this presentation
- www.TotalYouthResearch.com is much less important than the nature of the content the act of sharing itself
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy that means…
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy the winners in this new economy will be…
- www.TotalYouthResearch.com Those that focus on …JOINING THE DOTS
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- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy So, let’s look inside the Sharing Economy
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size
- www.TotalYouthResearch.com $335 billion by 2030 (source PWC)
- Share the love don’t forget to hit the LIKE button so other Slideshare users can discover this too www.TotalYouthResearch.com
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Creating a few young billionaires along the way
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- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …and some crazy valuations
- www.TotalYouthResearch.com WeWork : biggest player in CoWorking
- www.TotalYouthResearch.com UBER is the biggest player
- www.TotalYouthResearch.com AirBnB : biggest player in Travel
- www.TotalYouthResearch.com UBER > Facebook?
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy so, let’s look at business models inside the Sharing Economy…
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models
- www.TotalYouthResearch.com We need better solutions to Everyday Problems
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy The Sharing Economy touches many vertical sectors…
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy e.g. car sharing
- www.TotalYouthResearch.com Models focused on consumer pain points
- www.TotalYouthResearch.com Simple solutions to everyday problems
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy coworking spaces…
- www.TotalYouthResearch.com
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy shared accommodation
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- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Understand this shift as one from Loudspeaker to Telephone models
- www.TotalYouthResearch.com LOUDSPEAKER MODEL TELEPHONE MODEL
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …and young people are at the forefront of that change…
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- www.TotalYouthResearch.com Millennials are the change makers
- www.TotalYouthResearch.com CHANGE Mobile Millennials Changing Business Access Experience Mobile Customer Experience The Sharing Economy AutoHealth Retail Finance Travel Millennial customer expectations Mobile enabled disruption Vertical sectors affected Lookup Culture
- www.TotalYouthResearch.com “Here is a generation that has grown up comfortable with the idea of sharing. What’s interesting is that while Gen Y is comfortable with that concept, Gen Z will expect it.”
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy So, what exactly do young people want?
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers
- www.TotalYouthResearch.com Sell not the the EXPERIENCE THING
- www.TotalYouthResearch.com Shared Experience Access Experience Ownership Things 21st Century Gen Y & Z Traditional Post-War Values
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- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
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- www.TotalYouthResearch.com 57% said “Access is the new Ownership” (source PWC 2014)
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- www.TotalYouthResearch.com Millennials comfortable with the idea
- www.TotalYouthResearch.com 78% of Millennials said they would rather spend their money on Experiences not “things” (source PWC 2014)
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- www.TotalYouthResearch.com 68% said they were willing to rent or share personal items (source Nielsen 2014)
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Let’s look at the key Economic and Social Drivers of Shared Experience…
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers 4. Economic Factors
- www.TotalYouthResearch.com We are still here
- www.TotalYouthResearch.com 86% said the Sharing Economy made life more affordable (source PWC)
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Loaded with debt, young people are questioning everything…
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy including traditional rites of passage, like car ownership…
- www.TotalYouthResearch.com 53% of Millennials said they would participate in car sharing programs (source Zipcar 2013)
- www.TotalYouthResearch.com 21-34 year olds bought 27% of new cars in the US (down from 38% in 1984) (Source Shareable 2014)
- www.TotalYouthResearch.com http://www.google.com/trends/explore#q=car%20insurance Data on Google searches for “car insurance” shows a steady decline.
- www.TotalYouthResearch.com http://www.google.com/trends/explore#q=carsharing Yet, Google searches for “carsharing” continues to increase.
- www.TotalYouthResearch.com 51% said membership of car sharing programs meant they didn’t have to buy a car (source AlixPartners 2014)
- www.TotalYouthResearch.com same different EXPERIENCE THING
- www.TotalYouthResearch.com Car Ownership is a “Problem”
- www.TotalYouthResearch.com The average American uses their car only 8% of the time (Source New Dream 2014)
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy and it’s not just the cost of owning “stuff” but also how we work…
- www.TotalYouthResearch.com 82% of Millennials said businesses will be completely built by virtual teams within 10 years (source Affluence Collaborative 2014)
- www.TotalYouthResearch.com 40% of the population will be working independently by 2020 (source Emergent Research 2014)
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy Now, let’s go deeper and look at the social and emotional drivers of The Sharing Economy
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers 4. Economic Factors 5. Social Isolation
- www.TotalYouthResearch.com We are by design SOCIAL
- www.TotalYouthResearch.com “30 years ago, extreme sports were rare because young people didn’t need them: they played on construction sites, ate peanut butter sandwiches and cycled without helmets. Heck, they even went to school when it snowed.”
- www.TotalYouthResearch.com We are losing contact OFFLINE ANALOG
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
- www.TotalYouthResearch.com Not selling accommodation but friendship…
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- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy in play and in work
- www.TotalYouthResearch.com 84% of Coworkers said “Interaction with People” was the most important aspect of Coworking (source Deskmag 2014)
- www.TotalYouthResearch.com 80% of Coworkers said they were “less isolated” than before using Coworking spaces (source Deskmag 2014)
- www.TotalYouthResearch.com 70% reported feeling healthier in a Coworking space than in a traditional office setting (source OfficeVibe 2014)
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy and young people are turning to each other to make it happen…
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy 1. Market Size 2. New Business Models 3. New Consumer Drivers 4. Economic Factors 5. Social Isolation 6. New Dynamics of Trust
- www.TotalYouthResearch.com “As marketing is the key difference between success and failure, we are now witnessing the birth of business models where the marketing is baked into the service day one.”
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
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- www.TotalYouthResearch.com it’s all about trust
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy young people turn to each other for influence and opinion
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- www.TotalYouthResearch.com 78% said online interactions made them more open to the idea of sharing economy (source Shareable 2014)
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- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …joining the dots
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy …because in youth marketing people > brands
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy thank you
- Youth, Students, Teens, Millennials, Generation Y, Generation Z TOTAL YOUTH RESEARCH
- Share the love don’t forget to hit the LIKE button so other Slideshare users can discover this too www.TotalYouthResearch.com
- www.TotalYouthResearch.com SOCIAL ECONOMIC TECHNOLOGYBUSINESS Decline in social interaction esp. unstructured, offline, analog face-to- face interaction Growth in Sharing Economy business models. Importance of peer-to-peer recommendation and word of mouth Access to information via mobile and online. Growing ability to implement and acceptance of peer based review platforms Pressure on ownership of material goods. Rise in personal / student debt for Gen Y & Z GROWTH IN SHARING ECONOMY
- www.TotalYouthResearch.com Millennials and the $335 Billion Sharing Economy if you want to access the FREE case study to go with this presentation click the link in the next slide
- www.TotalYouthResearch.com CLICK BUTTON to ACCESS this FREE case study giving you background insights for this presentation
- www.TotalYouthResearch.com Get the ulBmate guide to youth generaBons Y & Z Get answers to these 3 quesBons: Who are they? What do they want? How do we give it to them? www.totalyouthresearch.com/total-‐youth-‐handbook
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