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: “If I played the lottery tomorrow and won $100,000,000 I would save most of it, donate some of it. And I'd buy my dad a boat, because I promised I'd buy him one if I was ever a millionaire.” –Female, 15, WA

This week, celebrity Photoshopping was debated online when fans criticized Beyoncé for posting an Instagram picture that looked altered to make her look slimmer. The star (and others) have been accused of using Photoshop or other image-fixing apps on social media photos before, a practice that many feel contributes to young female fans’ body issues, and does not align with the imperfection embracing and authenticity that so many young consumers expect. (BuzzFeed)

The Cartoon Network has launched an anti-bullying campaign called “I Speak Up” to encourage kids who have been bullied to reach out to trusted adults. Viewers are being encouraged to submit videos (with the permission of their parent or guardian) to share the anti-bullying message, and some of those videos will be featured in the campaign online and on TV. Visitors to the Speak Up website can also take a pledge to stop bullying, and earn special badges while playing Cartoon Network games. (PR Newser)

Young consumers are screen multitaskers, and second screen use while watching TV is a norm—but it’s not always clear to brands how they should engage in that behavior, and just throwing a hashtag on the screen isn’t going to cut it. Now Twitter says that studios and networks that live-tweet their popular programming (post and respond to viewers while the show is happening) can “dramatically boost followers and Twitter mentions” and even bump up TV ratings. (Recode)

YouTube is coming to the big screen. The digital comedy duo who create SMOSH, a channel with 30 million subscribers, has created a movie that will be distributed by Lionsgate. The movie is being described as a “Bill & Ted’s Excellent Adventurefor 2014” and will star a slew of other YouTube stars. The news is another example of traditional media embracing YouTube to entice young consumers, and the mainstreaming of the site’s stars. (Fast Company)

New research has found that across all grade levels and subjects, girls get better grades than male students—around the globe. The results have caused some to wonder if schools are “set up to favor the way girls learn and trip up boys.” Male students might be less able to self-discipline themselves, a key ingredient to doing well in classes, which means that the way education is structured plays into their weaknesses. (The Atlantic

Have some lingering questions about Millennials that you need answered for an upcoming meeting? That’s what Ypulse is here for. Silver and Gold subscribers have access to Ypulse's trend and Millennial experts for quick, personalized feedback on any topic. After each insights article, subscribers can submit questions and requests directly to our experts and receive instant responses. (Ypulse)

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