Unique apps leverage the peer-to-peer economy for typically high-end services
Implications - The rise in the peer-to-peer economy has seen the emergence of app-driven on-demand services that extend to the luxury end of the spectrum. While in the past, mainly affluent consumers may have had access to such typically high-end amenities, the accessibility and convenience of peer-to-peer services offered instantly through a digital means provide a cost-efficient, quick alternative.
Workshop Question - What effect does the P2P economy have on your business? How could you leverage it to provide consumers with experiences that were previously unattainable?
Trend Themes
1. Peer-to-peer Luxury - The rise in peer-to-peer economy has created opportunities for luxury services to be offered instantly through digital platforms.
2. On-demand Services - The fast growing popularity of on-demand services provides cost-efficient, convenient alternatives that mimic the marketing models of Uber and other ride-sharing services.
3. Eco-friendly Subscription Models - Subscription services have introduced an environmentally friendly clothing rental option which allows customers to test out designer pieces that are laundered and recycled for future customers.
Industry Implications
1. Hospitality & Travel - The hospitality and travel industry can utilize the fast growing on-demand service trend to enhance their service offerings and provide unique experiences.
2. Fashion & Apparel - The fashion and apparel industry can use the eco-friendly subscription model to offer more sustainable options for individuals looking to reduce their environmental impact and still look fashionable.
3. Personal Services - The personal services industry can adapt to the peer-to-peer economy trend and provide convenient on-demand services at affordable costs to a larger base of clients.
