Everything you’ve ever wanted to know about…

The Sharing Economy

A crowdsourced keynote by Benita Matofska

#CSWGlobal16

Benita Matofska• Global Sharing Economy

expert, speaker, consultant

• Chief Sharer, The People Who Share

• Founder, Global Sharing Week

A social enterprise that helps people and companies discover and access the Sharing Economy

• Campaigns: Global Sharing Week• Global Partner Network• Consultancy & Delivery• Share your Spare• The Share Collection

Definition

The Sharing Economy is…A system built around the sharing of human, physical and intellectual resources

Social & Environmental Impact

There are £3.5 trillion1 of unused resources worldwide…food, homes, clothing

1. The People Who Share, 2013

40,0002 people die each day without access to food, shelter, water

2. Share the World’s Resources

Social Impact13.2 million meals diverted from landfill to people in food poverty in UK by FareShare9

Craigslist diverted 5 million tonnes of goods from landfill in 201410

Sharing Economy 3 x greater impact for low income communities11

9.FareShare UK 10. Anders Fremstad 11. Arun Sundarrajan, NYU Stern, 2015

The Sharing Economy uses technology to help people & companies access and trade idle resources.

Technology

The Sharing Economy uses technology to help people & organisations access, share and trade idle resources

Valuation

The Sharing Economy is growing faster than Facebook, Google and Yahoo combined3

Valued at $15 billion4 in its first 7 years compared to the combined growth of Facebook, Google and Yahoo of $11 billion5

3.Business Insider4. PwC, 20145. Business Insider

Participation• 28% sharing globally6

• 68% adults globally willing to share or rent goods for money7

• 64% participation in UK9

• 105 million sharers in USA10

• 14 million sharers in Canada10

• 51% of adults in the USA get products and services peer-to-peer rather than from big corporations10

• Predict that 8 in 10 Americans will participate in SE by 201710

6.Havas Worldwide, 20147. Nielsen,, 20148. Nielsen, 20149. Nesta, 2014, The People Who Share, 201310. Crowd Companies, Vision Critical, 2015

Demographics: Who is sharing?

Generation Share: Young Early Adopters

• 2.68 billion globally13

• Age 25-34• 57% can find the things

they need to rent or borrow online14

• 73% say the Sharing Economy is important15

13 The People Who

Share

14.Havas

15. American Planning

Association

Demographics: The Sharing Economy is also for Older People

• 25% Sharing Economy service providers are 55+7

• 10% of Airbnb hosts are over 60• 25% of Uber drivers are over 50• Participation rates on some sharing sites of

over 55’s has grown 375% in the last year8

• Adults aged 55-64 choosing renting, sharing & swapping over ownership has grown 80% in the last 12 years9

7. PwC, 2015

8. Fiverr

9. Harvard University

Sharing Economy Drivers

• Saving & making money21

• Sustainability, collective good22

• Technology23

• Changing values24

• Convenience25

21 Vision Critical & Collaborative Lab, PwC, 201422. Leo Burnett, 2014, Havas Worldwide, 201423.. Zipcar, 2013, Lattitude & Shareable, 201024. Vision Critical & Collaborative Lab, 2014, Havas Worldwide, 2014, IPSOS, 2013; Heinrichs & Grunenberg, 2013, Leo Burnett, 201425. Vision Critical & Collaborative Lab, Crowd Companies, PwC, 2014

Sharing Economy Barriers

• Trust• Safety & Privacy• Ease of sharing

1. Spaces2. Transport3. Food & Drink4. Finance5. Communities & Networks6. Goods7. Learning8. Creativity & Media9. Eco solutions10. Tasks, Jobs & Skills

Verticals of the Sharing Economy

11. Trust, Security, Insurance12. Logistics13. Utilities14. Public Governance15. Health & Fitness16. Leisure & Entertainment17. Worker support18. Wellness & Beauty19. Animals

Verticals of the Sharing Economy

What are People Sharing?

• Goods: 44%5

• Services 15% (learning most popular) 5

• Crowdfunding 14%5

• Transport 10%5

• Space to stay 17%5

• Office space 6%5

5. Crowd Companies, Vision Critical, 2015

Controversies in the Sharing Economy

Is Uber in the Sharing Economy?

Should Sharing Economy businesses share their profits to be counted as part of the Sharing Economy?

Should businesses have a purpose to be part of the Sharing Economy ?

Global Sharing WeekLargest mass engagement campaign. Helping millions discover the Sharing Economy

• Reached 100+ million globally25

• 125 events 26

• 5 continents27

www.thepeoplewhoshare.com

25, 26, 27. The People Who Share, 2015

The global population is set to grow from 7 billion to 9.3 billion by 2050.

Our cities will need to accommodate 70% more people.

Sharing Cities

• Cities generate more than 67% of greenhouse gases

• Drivers looking for a parking space cause 30% of urban congestion & pollution.

• Car sharing could save 3 million tonnes of carbon per year

Sharing Cities

World’s first Sharing City

Sharing Cities

Sharing Cities

Amsterdam

• USA 15 mayors signed Shareable Cities Resolution, 2013

• UK funding pilots in Leeds & Manchester

• Kirklees creating a platform for city-wide sharing of skills and goods

• Amsterdam cross-sector engagement

Sharing cities are…

SmartResilientEfficientHappy

Where would you like to live?

Designed for Sharing

A system built around access to shared resources rather than ownership

• Based around people and planet

• Easy to use • Efficient • Different forms of value

exchange• Built to last - sustainable

The Sharing Economy is impacting every sector

• Private• Public• Voluntary

People are no longer reliant on corporations for their products & services.

Now they can trade peer-to-peer.

Corporations and the Sharing

Economy

90% of consumers want brands to share.

Only 10% perceived as doing it well21

21. Deloitte, 2014

Corporations and the Sharing

Economy

The Sharing Economy is an opportunity for organisations to turn costs into revenue

Companies adopting the Sharing Economy can double their revenues within 1 year11

11. Deloitte, 2014

Corporations and the Sharing

Economy

Home Depot WalgreensWalmartKingfisherM&SMariott HotelsAvis

BMWEnterprise Rent-A-CarPatagoniaW HotelsU HaulTesco

Companies already engaging with

the Sharing Economy include:

Partnership with Liquidspace. Rent unused spaces as co-working spaces

Turn idle resources (cost) into revenues

Case Study: Marriott Hotels

Partnership with eBay to sell pre-loved Patagonia products online

Share the lifecycle of the product

Case Study: Patagonia & eBay

Online customers delver goods for in-store customers

Crowdshipping

Case Study: DHL & MyWays & Wal Mart

Global Home Furnishings Forum: Keynote on the Sharing Economy

Consultancy: How can IKEA engage in the Sharing Economy?

Case Study: IKEA

Macmillan Cancer Support

TeamUp

Peer-to-peer task-sharing platform to connect volunteers with people living with cancer

www.goteamup.org.uk

Case Study: Charity

More Corporate Examples

FORD: Creative financing program to encourage new buyers to rent their new Ford car to peers on Getaround, a P2P online marketplace.

HOME DEPOT: Offers a rental service for tools and heavy equipment, including trucks, so customers don’t need to buy expensive, infrequently used goods.

WALMART: Created an aftermarket for videogames, called Trade In, which enables customers to sell back cell phones and other electronics in their own stores and online.

The organisations of the future will be those built around sharing.

Working in the Sharing Economy

• 4.9 million people working in the SE in the UK3

• 18.5 million buy SE services in the UK3

• 33% of 25-34 year olds 3

• 24% rely on this income3

• 42% earn less than £20K per year before tax 3

• 7% earn more than £55K per year before tax3

• 81% are the main breadwinners3

• 51% of workers under age 353

• 54% of workers female3

• 46% of workers male3

3. Foundation for European Progressive Studies (FEPS), UNI Europa, University of Hertfordshire, 2016

Where is the Sharing Economy heading?

Future Predictions40% say they will attempt new types of sharing16

91% of sharers say they will recommend sharing services via social media17

60% of adults in the UK say they’ll swap goods in the future18

91% of adults intend to continue sharing in future19

16. Havas, 2014 17. Vision Critical & Crowd Companies, 2014 18. The State of the Sharing Economy, Opinium Research for The People Who Share, 201319. Vision Critical & Crowd Companies, 2014

Thanks for sharing!

@benitamatofska@peoplewhoshare

#sharingeconomy

#CSWGlobal16