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Everything you’ve ever wanted to know about…
The Sharing Economy
A crowdsourced keynote by Benita Matofska
#CSWGlobal16
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Benita Matofska• Global Sharing Economy
expert, speaker, consultant
• Chief Sharer, The People Who Share
• Founder, Global Sharing Week
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A social enterprise that helps people and companies discover and access the Sharing Economy
• Campaigns: Global Sharing Week• Global Partner Network• Consultancy & Delivery• Share your Spare• The Share Collection
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Definition
The Sharing Economy is…A system built around the sharing of human, physical and intellectual resources
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Social & Environmental Impact
There are £3.5 trillion1 of unused resources worldwide…food, homes, clothing
1. The People Who Share, 2013
40,0002 people die each day without access to food, shelter, water
2. Share the World’s Resources
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Social Impact13.2 million meals diverted from landfill to people in food poverty in UK by FareShare9
Craigslist diverted 5 million tonnes of goods from landfill in 201410
Sharing Economy 3 x greater impact for low income communities11
9.FareShare UK 10. Anders Fremstad 11. Arun Sundarrajan, NYU Stern, 2015
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The Sharing Economy uses technology to help people & companies access and trade idle resources.
Technology
The Sharing Economy uses technology to help people & organisations access, share and trade idle resources
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Valuation
The Sharing Economy is growing faster than Facebook, Google and Yahoo combined3
Valued at $15 billion4 in its first 7 years compared to the combined growth of Facebook, Google and Yahoo of $11 billion5
3.Business Insider4. PwC, 20145. Business Insider
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Participation• 28% sharing globally6
• 68% adults globally willing to share or rent goods for money7
• 64% participation in UK9
• 105 million sharers in USA10
• 14 million sharers in Canada10
• 51% of adults in the USA get products and services peer-to-peer rather than from big corporations10
• Predict that 8 in 10 Americans will participate in SE by 201710
6.Havas Worldwide, 20147. Nielsen,, 20148. Nielsen, 20149. Nesta, 2014, The People Who Share, 201310. Crowd Companies, Vision Critical, 2015
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Demographics: Who is sharing?
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Generation Share: Young Early Adopters
• 2.68 billion globally13
• Age 25-34• 57% can find the things
they need to rent or borrow online14
• 73% say the Sharing Economy is important15
13 The People Who
Share
14.Havas
15. American Planning
Association
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Demographics: The Sharing Economy is also for Older People
• 25% Sharing Economy service providers are 55+7
• 10% of Airbnb hosts are over 60• 25% of Uber drivers are over 50• Participation rates on some sharing sites of
over 55’s has grown 375% in the last year8
• Adults aged 55-64 choosing renting, sharing & swapping over ownership has grown 80% in the last 12 years9
7. PwC, 2015
8. Fiverr
9. Harvard University
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Sharing Economy Drivers
• Saving & making money21
• Sustainability, collective good22
• Technology23
• Changing values24
• Convenience25
21 Vision Critical & Collaborative Lab, PwC, 201422. Leo Burnett, 2014, Havas Worldwide, 201423.. Zipcar, 2013, Lattitude & Shareable, 201024. Vision Critical & Collaborative Lab, 2014, Havas Worldwide, 2014, IPSOS, 2013; Heinrichs & Grunenberg, 2013, Leo Burnett, 201425. Vision Critical & Collaborative Lab, Crowd Companies, PwC, 2014
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Sharing Economy Barriers
• Trust• Safety & Privacy• Ease of sharing
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1. Spaces2. Transport3. Food & Drink4. Finance5. Communities & Networks6. Goods7. Learning8. Creativity & Media9. Eco solutions10. Tasks, Jobs & Skills
Verticals of the Sharing Economy
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11. Trust, Security, Insurance12. Logistics13. Utilities14. Public Governance15. Health & Fitness16. Leisure & Entertainment17. Worker support18. Wellness & Beauty19. Animals
Verticals of the Sharing Economy
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What are People Sharing?
• Goods: 44%5
• Services 15% (learning most popular) 5
• Crowdfunding 14%5
• Transport 10%5
• Space to stay 17%5
• Office space 6%5
5. Crowd Companies, Vision Critical, 2015
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Controversies in the Sharing Economy
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Is Uber in the Sharing Economy?
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Should Sharing Economy businesses share their profits to be counted as part of the Sharing Economy?
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Should businesses have a purpose to be part of the Sharing Economy ?
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Global Sharing WeekLargest mass engagement campaign. Helping millions discover the Sharing Economy
• Reached 100+ million globally25
• 125 events 26
• 5 continents27
www.thepeoplewhoshare.com
25, 26, 27. The People Who Share, 2015
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The global population is set to grow from 7 billion to 9.3 billion by 2050.
Our cities will need to accommodate 70% more people.
Sharing Cities
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• Cities generate more than 67% of greenhouse gases
• Drivers looking for a parking space cause 30% of urban congestion & pollution.
• Car sharing could save 3 million tonnes of carbon per year
Sharing Cities
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World’s first Sharing City
Sharing Cities
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Sharing Cities
Amsterdam
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• USA 15 mayors signed Shareable Cities Resolution, 2013
• UK funding pilots in Leeds & Manchester
• Kirklees creating a platform for city-wide sharing of skills and goods
• Amsterdam cross-sector engagement
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Sharing cities are…
SmartResilientEfficientHappy
Where would you like to live?
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Designed for Sharing
A system built around access to shared resources rather than ownership
• Based around people and planet
• Easy to use • Efficient • Different forms of value
exchange• Built to last - sustainable
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The Sharing Economy is impacting every sector
• Private• Public• Voluntary
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People are no longer reliant on corporations for their products & services.
Now they can trade peer-to-peer.
Corporations and the Sharing
Economy
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90% of consumers want brands to share.
Only 10% perceived as doing it well21
21. Deloitte, 2014
Corporations and the Sharing
Economy
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The Sharing Economy is an opportunity for organisations to turn costs into revenue
Companies adopting the Sharing Economy can double their revenues within 1 year11
11. Deloitte, 2014
Corporations and the Sharing
Economy
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Home Depot WalgreensWalmartKingfisherM&SMariott HotelsAvis
BMWEnterprise Rent-A-CarPatagoniaW HotelsU HaulTesco
Companies already engaging with
the Sharing Economy include:
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Partnership with Liquidspace. Rent unused spaces as co-working spaces
Turn idle resources (cost) into revenues
Case Study: Marriott Hotels
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Partnership with eBay to sell pre-loved Patagonia products online
Share the lifecycle of the product
Case Study: Patagonia & eBay
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Online customers delver goods for in-store customers
Crowdshipping
Case Study: DHL & MyWays & Wal Mart
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Global Home Furnishings Forum: Keynote on the Sharing Economy
Consultancy: How can IKEA engage in the Sharing Economy?
Case Study: IKEA
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Macmillan Cancer Support
TeamUp
Peer-to-peer task-sharing platform to connect volunteers with people living with cancer
www.goteamup.org.uk
Case Study: Charity
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More Corporate Examples
FORD: Creative financing program to encourage new buyers to rent their new Ford car to peers on Getaround, a P2P online marketplace.
HOME DEPOT: Offers a rental service for tools and heavy equipment, including trucks, so customers don’t need to buy expensive, infrequently used goods.
WALMART: Created an aftermarket for videogames, called Trade In, which enables customers to sell back cell phones and other electronics in their own stores and online.
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The organisations of the future will be those built around sharing.
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Working in the Sharing Economy
• 4.9 million people working in the SE in the UK3
• 18.5 million buy SE services in the UK3
• 33% of 25-34 year olds 3
• 24% rely on this income3
• 42% earn less than £20K per year before tax 3
• 7% earn more than £55K per year before tax3
• 81% are the main breadwinners3
• 51% of workers under age 353
• 54% of workers female3
• 46% of workers male3
3. Foundation for European Progressive Studies (FEPS), UNI Europa, University of Hertfordshire, 2016
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Where is the Sharing Economy heading?
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Future Predictions40% say they will attempt new types of sharing16
91% of sharers say they will recommend sharing services via social media17
60% of adults in the UK say they’ll swap goods in the future18
91% of adults intend to continue sharing in future19
16. Havas, 2014 17. Vision Critical & Crowd Companies, 2014 18. The State of the Sharing Economy, Opinium Research for The People Who Share, 201319. Vision Critical & Crowd Companies, 2014
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Thanks for sharing!
@benitamatofska@peoplewhoshare
#sharingeconomy
#CSWGlobal16