Convenience as a Source of Competitive Advantage in the Collaborative Economy

In the on-demand, peer-to-peer movement called the collaborative economy, many rising startups are offering convenience to attract new users and customers. In this new economy, Uber and Lyft provide rides with just a few quick clicks on a mobile app—no credit cards or cash to fuss with. Buying on eBay today is often easier than going down to the consignment store to find pre-owned goods. Finding a professional on TaskRabbit is more convenient than the traditional way of hiring full-time staff. As we revealed in The New Rules of the Collaborative Economy, a report I co-authored with tech strategist Alexandra Samuel, convenience is the number one factor cited by people for their latest participation in the collaborative economy. More than … Continue readingConvenience as a Source of Competitive Advantage in the Collaborative Economy

How To Use Price to Compete In The Collaborative Economy

If you want to compete with startups like Instacart, Uber and Etsy, there’s one aspect of your product or service that you might want to re-evaluate: your price. As we revealed in The New Rules of the Collaborative Economy, a report I co-authored with technology strategist Alexandra Samuel, cost savings is a key driver in the growth of the collaborative economy—the economic phenomenon where people get the products and services they need from each other instead of buying them by traditional means. The report, based on a study by Vision Critical, the leading customer intelligence platform provider, shows that price is a significant driver to the growth of the collaborative economy. We found that a great majority of sharing transactions … Continue readingHow To Use Price to Compete In The Collaborative Economy

Should Silicon Valley Fix Its Image Problem?

Silicon Valley is known for a lot of positive things, but there’s clearly a negative sentiment from outsiders. The question is, does Silicon Valley want to fix this image problem? Decades ago, before it was called “Silicon Valley,” it was an area abundant with fruit and flower farms, redwood harvesting, and scattered towns connected via dirt roads. This fruitful area has also blossomed into computer chips, hard drive platters, networking gear, devices, computers, and internet companies galore. Many have become famous, gathered many riches, and helped to change other people’s lives. Today, Silicon Valley is experiencing the second gold rush, where investors, entrepreneurs, workers, and more flock to this region to strike it rich and make a difference. To understand perception, … Continue readingShould Silicon Valley Fix Its Image Problem?

Infographics: Growth of Sharing in the Collaborative Economy

Participation in the Collaborative Economy has grown by 25 percent in the past year alone. That’s one of the key findings we shared in The New Rules of the Collaborative Economy, a Vision Critical report I co-authored with tech strategist Alexandra Samuel. As the infographics below shows, more than 110 million North Americans now do some form of sharing in the Collaborative Economy. More than half of North Americans now get the products and services they need from each other, peer to peer, instead of buying from established corporations. The rapid rise of the Collaborative Economy raises an important question for businesses: what’s driving the growth of this movement? More importantly, is it a permanent shift in customer behavior? Data … Continue readingInfographics: Growth of Sharing in the Collaborative Economy