Peer-to-Peer: The Consumer Powered Revolution

Today, Ypulse staffer Phil Savarese continues our series on the evolving e-commerce landscape by profiling "ones to watch" in the evolving world of peer-to-peer business.

 

AirBNBThree E-Commerce P2P Innovations To Know Now

The economic crisis has Millennials, and many others, thinking of new ways to do business. Communal effort and the desire for a more sustainable and beneficial future are driving forces of the generation. With this spirit and an increasing distrust of old systems as a foundation, the peer-to-peer (P2P) business model is becoming more and more common. Rather than customers buying products from a site like Amazon, they purchase from other consumers, cutting out the big brands from the exchange process. Given the social, groupthink nature of Millennials and their inherent knowledge of the internet, it is no surprise that P2P has been growing, and evolving beyond goods exchange to revolutionize other business categories as well. The “gig economy,” a marketplace of micro-jobs born partly out of the recession, is also pushing the movement forward. Peer-to-peer services are providing their users with new and innovative ways to both make life easier and earn some extra cash: the peer-to-peer economy is estimated to have a revenue of $3.5 billion this year. Here we’ll take a look at three P2P e-commerce businesses to know now:

 

airbnbAirbnb:

Airbnb offers its users a new way to list and book traveling accommodations. Hosts list their own personal spaces on the site; users then book the space for a certain period of time at the price established by the hosts. It’s simple, fast, and most of all, different—a way for consumers to travel the world without ever having to pay for a night in a motel. Millennials are adventure seekers, looking for rich experiences but in an organic…

 
 
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Millennial News Feed

Quote of the Day: “My dream for the future is to become an entrepreneur so I can become my own boss. I also want to become successful to help other people who are in need.” – Female, 23, CA

Seven years after the release of Harry Potter and the Deathly HallowsHarry Potter is the best-selling book series in history; but it also shaped a generation of children who read it. Millennials—known for their technology reliance—fell in love with these books “about love conquering hate,” waited for their release, grew up with the characters, and found within the books a unifying culture that has lasted far beyond the publishing of the last book. As we’ve said previously, the optimistic story about a unique, special boy destined for great things resonated with Millennials in a time when they too believed they were special and had great expectations for their futures. (BoingBoing)

Millennials are not rushing to tee off, and golf is “suffering from a generation gap.” Over the last five years, participation in the sport has fallen steadily, and the participation rates of 18-34-year-olds dropped 13% from 2009 to 2013, while their rates in other sports has risen significantly. The slow rate of games, the expense, and likely the pretense surrounding golf, could all be contributing to the gap. (WSJ)

An anonymous, adult, toy reviewer is one of YouTube’s biggest stars. DisneyCollectorBR posts videos of toy “unboxings,” watched by millions. Her most watched video is an unwrapping of “egg surprise” trinkets to show what is inside—it has over 90 million views. Apparently, the simple videos of a toy being opened and played with by adult hands are “entrancing” kids, who watch one after another. There is close to no information about the person behind the account online. (BuzzFeed)

Millennial parents continue to be given tools that facilitate their kids’ hyper-monitered childhoods. MamaBear is an “all-in-one worry-free” parenting/monitoring app that recently raised $1.4 million. Through the app, parents can be alerted to where children are, what they’re saying on social media, what photos they’re being tagged in, and even monitors when teen users are speeding. (TechCrunch)

The obesity epidemic has been blamed on many things, from fast food to technology replacing outside play. But one result of the health problem could also be making it tough to conquer: a lot of children who are obese or overweight don’t know it. A recent study found that 76% of kids ages 8-15 who are designated by the CDC as overweight thought they were “about right.” Boys and children from poorer families were more likely to “misperceive” their weight. (NPR)

Quote of the Day: “I unplugged from Facebook and it was one of the best decisions I have ever made. It is such a time suck. I have other online sites that I can browse to relieve stress or take a break from work without having to see what some random kid in high school is eating for breakfast.” —Female, 23, PA

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