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

“Art is basically my job and I enjoy it so much.”—Female, 15, MD

Snap is making its “biggest move” in scripted original content, teaming up with NBCUniversal and the Duplass brothers for their next series. The Duplass-owned creative studio Donut will produce original series for Snap shot in vertical video. NBCU and Snap will also be opening a joint digital content studio focused completely on mobile-first entertainment, “formaliz[ing] their partnership” and putting Snap firmly in the producing/original content creation camp. Snap’s mobile-only approach is part of a movement to shake up how we view videos—in fact, they’re calling their offering “a fundamentally new medium.” (THRTechCrunch)

Eggo frozen waffles are capitalizing on their unexpected Stranger Things’ fame. The brand has seized the marketing opportunity of being a part of one of Millennials & Gen Z’s favorite shows, tying themselves into Netflix’s Super Bowl ad, creating a special toaster for select fans, and swarming New York Comic Con with people dressed up like Eleven armed with “watch party kits” (aka “waffles and a microwavable syrup server”). To prep for the premiere of season two of the show, Eggo is sending out a fully-loaded food truck for the red carpet premiere, and going all out on social media to connect with fans. (MediaPost)

More teens than ever have severe anxiety, but why? The American College Health Association found a 12% increase in undergrads reporting “overwhelming anxiety” from 2011 to 2016, and several studies concur that “there’s just been a steady increase of severely anxious students.” Social media is part of the problem—constant like-monitoring and cyber bullying isn’t helping the most stressed generation to date. There’s also an increasing (and constant) perceived need to over-achieve. One psychology professor observes, “There’s always one more activity, one more A.P. class, one more thing to do in order to get into a top college.” (NYTimes)

Ypulse research has shown that 88% of Millennial parents are trying to avoid helicopter parenting—but they might not be able to help it. The constant media storm of global atrocities and everyday stories of parenting gone wrong combined with advertisers’ willingness to fear-monger, results in a generation of (understandably) anxious parents. It doesn’t help that the tech to constantly monitor kids is easily available (albeit pricey)—from drone surveillance meant for the military to devices that track “blood-oxygen levels all night long.” One relationship therapist sums up, “Everyone is having a hard time drawing a line and just figuring out what’s reasonable versus what’s over-protective.” (Refinery29)

Brands are turning college students into mini-sales forces. Aerie, Victoria’s Secret Pink, and Express are just a few of the many brands that have a program for college campus reps where students receive swag, experience, and other perks for helping bring brand awareness to their colleges. Though brands don’t always require social posts, most ambassadors do share their swag on social, bringing organic ads to their friends’ feeds. The biggest draw is that social posts from reps “[come] across as natural, authentic, a product that they would normally use or want to talk about.” (Racked)

“[Celebrity] can mean anything nowadays and it's a rather diluted term; from YouTube star, to someone on Instagram with millions of followers, to reality TV dopes, etc.”—Male, 30, WI

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