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…

 
 

Want to talk to us about the article
or dive into a custom study?


Millennial News Feed

Quote of the Day: “Music plays a very important part in my life, especially since Beyoncé is my favorite artist. Her music helps me get through things.” –Male, 14, IL 

Millennials’ wanderlust is no secret, and Ypulse’s May monthly survey found that 72% of 13-32-year-olds are interested in travel. How they travel may be different from previous generations though. A study by Marriott Rewards Credit Card found that 84% of 18-34-year-olds would travel to participate in volunteer activities, compared to 68% of Xers and 51% of Boomers. Younger travelers are also more likely to seek out adventurous activities, and cultural hot spots. (Business Wire)

Short-form video has become more important than ever, and “YouTube alone” may not be enough to capture Millennial and teens’ attention. Short content like six-second Vine videos appeal to young consumers who are overwhelmed with content options, and want to easily share what they see. Brands that create “succinct, punchy, and memorable” clips can stand out—4% of the top 100 tracked Vine videos is already branded content. (Marketing Magazine)

Taco Bell and Pizza Hut are going “natural” to appeal to health-conscious young consumers. The chains have announced that they’ll be eliminating artificial colors and chemical ingredients from menus in the coming months, including dyes and high fructose corn syrup. The move continues the trend of big food brands incorporating fresher and less processed ingredients, and attempting to appeal to Millennials’ dining preferences. (Mashable)

It’s graduation season, which means that thousands of diploma-toting Millennials will be coming face to face with their student loan debt. Earnest is a startup that wants to help them deal with it, and navigate a system that “isn’t built right.” The site helps members to refinance and manage all of their loans to reduce their payments and create a payment schedule in just a few clicks. (Fast Company)

Minecraft has become wildly popular with young consumers, so it only makes sense that other brands would want a piece of their virtual building action. Lego may be building a Minecraft rival, called “Lego Worlds” where players can create and explore a digital universe made, we would assume, with Legos. Speculation is that more information about the project, which has only been spotted on current Lego instructions, could come out at next month’s E3 conference. (The Next Web)

Are Millennials and teens watching more streaming than cable? Our tracked data trends have all the stats on that, thanks to our monthly survey of 1000 13-32-year-olds nationwide. Our Silver and Gold subscribers get access to regularly updated charts following their media consumption. We do the heavy data lifting for you, and we’re constantly adding new data to our trends. (Ypulse)

Sign Up Now

Subscribe for premium access to our content, data, and tools.

Already a subscriber? Sign in.

Upgrade Now

Upgrade for full access to the best marketing tools for understanding the next generation.

View our Client Case Studies