Big-ticket items become a part of sharing culture
Implications - The share economy has permeated everything from temporary transportation to travel and accommodations, recently working its way into big-ticket items. This convergence of traditional milestones -- such as car or home ownership -- with modern values speaks to the mainstream Millennial who is more inclined to traditional values, but is open to new forms of "ownership."
Workshop Question - In a world where ownership is decreasing in value, how does your brand push to create a sense of shared community?
Trend Themes
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Share Economy — The shift toward collaborative consumption presents opportunities for businesses to offer sharing services with high-value items.
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P2P Insurance — Peer-to-peer insurance services are becoming popular among those who value cost savings and practicality of shared ownership.
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Group Leasing — Group leasing, whether for apartments or cars, simplifies the rental process and creates opportunities for shared ownership.
Industry Implications
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Hospitality — Hospitality businesses can explore opportunities to provide group wedding events and other milestone celebrations that offer a blend of convenience and affordability.
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Insurance — Insurance companies have the potential to leverage the peer-to-peer insurance model to offer cost-effective policies and expand their customer base.
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Automotive — Car manufacturers and dealerships can consider offering group lease-sharing programs that are enabled by technology to simplify coordination and payments.
