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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The Newsfeed

Quote of the Day: “My favorite brand on social media is Complex, because it's more of an online network that reports on urban culture.”

—Male, 23, MI

Luxury watch brands are innovating to cater to what could be their biggest opportunity: Generation Z. A September 2016 survey from Mintel found one in five 16-24-year-olds reported they were thinking of buying a watch “in the coming months,” and that “the young are the biggest buyers of all age groups.” As a result, watch brands are taking marketing online. Omega says that social media is not part of their marketing strategy but “the way [they] communicate.” (Financial Times)  

A group of moms is making hijabs for Barbie to battle Islamophobia. Created through a partnership with the non-profit For Good, Hello Hijab sells $6 handmade headscarves for dolls, available April 1st, along with a card explaining what the accessory is. As one founder explains, the aim is for a more inclusive generation: “They will see it as a kind memory from their playtime, and then they will grow into a kinder generation…used to playing with dolls that look different to them.” Profits from the new doll accessory will go to support multicultural communities. (RT)

Netflix is winning the “steaming wars”—at least on home TV sets. comScore’s analysis into video streamed over Wi-Fi to televisions in U.S. homes found Netflix’s penetration is around 40%, while YouTube, the next most-used service, was less than 30%. Both Amazon and Hulu are far behind at below 20%, but the latter was found to have engagement rates on par with Netflix: “People who do use [them] use [them] a lot…Both services engage their users for more than 25 hours a month.” (Recode)

Chipotle wants to "slyly” promote kids’ healthy food habits with an unbranded video series. RAD Lands, available for purchase on iTunes, follows “the Cultivators” as they try to save the galaxy’s animals and plants, and features cooking segments with celebrity chefs and musical appearances by the likes of Biz Markie and Wayne Coyne of the Flaming Lips. Described as an “entertainment Trojan horse,” the series is all about educating the next generation while also making a play to win back consumers after the brand’s food-related illness issue. (Ad Age

Airbnb is launching Aibiying, a new brand to target Chinese Millennials. The company’s research has shown an increase of 142% of travel out of China in 2016, and 80% of their users in the country are under 35. The young travelers are also a “lucrative market” according to one expert: "Chinese Millennials are likely to travel farther afield -- and to spend more while traveling—as their disposable incomes and appetite for adventure grow." Aibiying, which translates to "Welcome each other with love,” will include the brand’s latest “Trips” and “Experiences” features. (Inc.

Quote of the Day: “Budweiser ads are memorable because they pull at the heart strings with the horses and dogs.”—Female, 22, CA

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