28 April 2010

Collaborative Consumption

From The Word Spy


n. An economic model in which consumers use online tools to collaborate on owning, renting, sharing, and trading goods and services.

Example Citation:

'From social lending (Zopa), to car sharing (Zipcar) to co-working (HubCulture), to peer-to-peer rental (Zilok), to collaborative travel (Air BnB), to neighborhood sharing schemes (WeCommune)... people are already using the principles and dynamics of Collaborative Consumption — organized sharing, bartering, lending, trading, renting, gifting and swapping through online and real-world communities — to get the same fulfillment and benefits of ownership with reduced personal burden and cost and as well as lower environmental impact' —Rachel Botsman and Roo Rogers, What's Mine Is Yours: The Rise of Collaborative Consumption, HarperBusiness, April 1, 2010 (approx)

Earliest Citation:

'Collaborative consumption is a phenomenon that is sweeping the globe. ... Consumers collaborate on-line to exchange goods and services through web sites such as eBay and Gumtree, share hospitality experiences through Trip Advisor (featuring five million reviews and rising) and pool their collective purchasing power on www.12thshare.com to co-own, in a process known as fractional ownership, high-value assets such as prestige cars, property and airplanes' —Ray Algar, "Collaborative Consumption," The M&C Report, April 1, 2007

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