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: “When a brand can adapt to all shoppers, it makes me trust them more.”

—Female, 24, MI

A startup is leveraging angry tweets to let brands find new consumers, and engineer some incredibly personalized marketing. Customer service listening tool SocialRank Realtime allows brands to view a dashboard of tweets from consumers “who might be fans of theirs in the future.” For example, after viewing a tweet from a potential consumer about a flight delay, an airport restaurant might send over a cup of coffee to their location. The tool touts its ability to let brands to create “real relationships” with consumers and has already signed on Juicy Couture and Aéropostale. (Business Insider)  

Teens are watching influencers on YouTube, but what are the teen influencers watching? According to an Influenster survey of 14-51-year-old “tastemaker consumers,” 93% of 14-18-year-old influencers are watching product reviews—compared to 86% of overall respondents. Haul videos came in next in popularity at 76% (24% more than overall), followed by unboxing videos at 71% (19% more than overall). Seven in ten teen influencers are also watching YouTube videos at least once a day, and 42% say they can watch between six to 15 per sitting. (eMarketer

Pokémon Go is still going. The revolutionary game, which attracted 500 million users in eight weeks last summer, has made an estimated $1 billion in the last seven months and reports “a very large level” of users. The second version of the game will soon be released, with 80 new monsters to catch—which is good news for brands. According to the CEO of Niantic Labs, the game will soon be integrating ads that fit in organically to the platform, and the game’s partnership with Starbucks on a Pokémon Go beverage “opened a lot of people’s eyes to start imagining other cool things that you can do.” (Adweek

Wattpad is the latest company getting into storytelling via text messages. The social publishing platform has launched mobile app Tap, where readers can discover “chat-style” stories across genres like horror, romance, drama and more. Although fiction app Hooked and kid-targeted Amazon Rapids takes a similar approach, Tap is the only one that takes a “voyeuristic” angle, giving readers the feeling that they’re reading through someone else’s chat messages—a move that can appeal to teenagers and young adults. (TechCrunch

Nordstrom is going above and beyond the “typical department store” offerings to reach young consumers. Earlier this week, the retailer launched the Lab—an incubator venture that showcases indie, new designers with “completely different audiences, messages, and points of view.” Each season will bring a new crop of designers, and according to the retailer, new stories: “It's the full package — who is the designer, what is their story, what do they stand for, why are they doing what they are doing, who is it for. There’s an authenticity [in that].” (Racked

Quote of the Day: “For my engagement ring, I want a tattoo. No ring.”—Female, 30, AZ

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