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…

 
 
Ask Millennials some questions.
Log in to get started...

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


Millennial News Feed

Quote of the Day: “I like shopping at Staples because they have good prices on supplies I need for school [and] electronics or other devices I may need.” –Female, 17, ID

For urban Millennials, getting married doesn’t necessarily mean saying goodbye to roommates. Members of the generation continue to mature into adulthood in an untraditional way, and with rent increasing dramatically, some are choosing living as husband and wife and roomie over a moving to smaller place, or having a longer commute. This acceptance of communal living could be a reflection of the rise of the sharing economy, as it becomes the norm to share everything from rides to the kitchen. (New York Times)

Although most of today’s 18-24-year-olds were still in high school or college during the Great Recession, it’s still affecting their career choices today. A survey from Way to Work found that 70% would prefer a stable job over a job they were passionate about but offered little security, and one third said finding that secure job was their top concern. 34% of Millennials named financial stability as their greatest aspiration. (Forbes)

According to some teens, “MTV is dying.” Hoping to reverse that sentiment, MTV will be introducing eight new series, and has 85 more in development, that are meant to reflect Millennials’ “unbridled optimism.” Upcoming series include a reality show about YouTube star Todrick Hall and a scripted comedy around Vine star Logan Paul—MTV likely has their fingers crossed these social media stars will bring their fans to the network. (Adweek)

YouTube channel AwesomenessTV has successfully hooked hundreds of thousands of young viewers, and now they’re setting their sights on a new audience: Millennial moms. Their new network Awestruck will premiere later this year, offering a wide range of female-centric series, from comedy to drama to talk shows featuring both online stars and Hollywood celebrities. The network hopes that young moms will turn to them as they consume more online video content. (StreamDaily)

What does it take to become “Insta-famous?” Sometimes it just takes being photographed in the right place at the right time. Sixteen-year-old Charlotte D’Alessio amassed tens of thousands of followers in just a few days when a photo of her and her best friend, model Josie Canseco, went viral at Coachella. From there Canseco and D’Alessio appeared on celebrities’ feeds, the Coachella account, and new fans’ Tumblr posts. The girls’ viral status speaks to how quickly notoriety can amass for young consumers in the age or micro-fame. (BuzzFeed)

Want to know Millennials' favorite fast food chain? How often they're dining out? What they order? Our most recent topline and date on 13-32-year-olds gave Gold subscribers the inside scoop on all their food and dining preferences. We deliver in-depth tables and a visual report to them every two weeks, covering another aspect of young consumers' behaviors, beliefs, and more. (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