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: “I won’t buy an already-made costume to dress up in for Halloween because everyone will have those and I don't like having what everyone else has.” –Female, 27, FL

The future of the on-demand economy is shaping up, and soon anything you might need or want, from toothpaste to kittens, could be delivered to you in a snap. Grocery delivery app Instacart tapped into this “I want it now” mentality for some smart Halloween marketing: Seattle residents can use the app to order last-minute costumes that arrive in one hour. The startup conceived the campaign after receiving costume requests from many of their customers, and the service will be active until 8pm tonight. (Instacart)

Last week, we wrote that brands could learn some marketing tricks from Taylor Swift, and her social media skills continue to impress. Vulture has a break down of why Swift is the “reigning queen of celebrity social media,” where she acts like her fans’ best friend, interacts with them personally, and uses each platform the way they do. On Monday, she used Twitter to put those fans in the spotlight, reposting pictures of them posing with her new album on her own feed with the hashtag #taylurking, a reference to the fact that she was lurking on her followers’ profiles. (Vulture)

Older Millennials grew up with the internet, which means they remember its humble design beginnings, and how social media got its start—after all, they were at the center of it. The internet has come a long way in a relatively short time, but there is a growing nostalgia for Web 1.0, the good old days when “everything was smaller,” “close-knit,” and “DIY.” This nostalgia is fueling the design of some of the newest apps and networks, which emphasize intimacy, self-expression, and minimalism. (Gizmodo)

Young consumers have a different set of retail experience expectations, and while many till prefer in-store, there is no doubt that mobile and online are a very big part of their shopping behavior. So what are their digital retail tastes and habits? 55% use multiple devices to shop, and 71% of females do their online shopping at home versus the 77% of males who do it on-the-go. Their biggest frustrations include slow load times, slow checkout, lack of interactive features, and small/fuzzy images. Those images are important—55% overall, and 72% of females, say they “couldn’t live without pictures when shopping on mobile devices.” (Inc.)

Richie Rich is being rebooted for a new generation. A live-action Richie Rich show from AwesomenessTV is coming to Netflix in 2015. The story of the self-made child millionaire was first a comic book in the 1950s, then reinvented for ‘90s kids in the movie starring Macaulay Caulkin. In this modernized iteration, Richie is a trillionaire who earned his bucks inventing and selling green technology. (KidscreenMashable)

You've got questions, we've got answers. Silver and Gold subscribers have access to Ypulse's trend and Millennial experts for quick, personalized feedback on any topic. After each insights article on Ypulse.com, subscribers can submit questions and requests directly to our experts and receive instant responses. Whether they want to dig more deeply into a topic or better understand the implications for their brands, we're there to help. (Ypulse)

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