Every week we bring you the FreshMinds Friday picks – ideas to help you understand the impact of digital technologies on consumers, brands and markets. This week we look at five statistics that show the real potential of the Collaborative Economy and the impact that it can have on many existing brands and markets.
1. In 2013, the value of the Collaborative Economy was $3.5bn globally
Forbes estimates the 2013 value of the Collaborative Economy at $3.5 billion globally, with growth exceeding 25% per annum.
2. Over two-thirds of people globally are willing to join the Sharing Economy
Sharing is not a minority activity. A May 2014 survey of global internet users by Nielsen found that 68% of respondents would be willing to share their own property for financial gain, and 66% would be willing to rent or use services from others in a sharing community. There is some disparity across global regions – with 78% of people in Asia-Pacific willing to share their own property, but only 44% of people in Europe willing to do the same.
3. Every car-sharing vehicle on the streets costs car manufacturers $270,000
A report by Jeremiah Owyang estimates that for every car-sharing vehicle on the street, the number of cars owned reduces by between 9 and 13; this costs car manufacturers $270k and is a clear reason why many such manufacturers are exploring the role they can play in this new sharing economy.
4. Uber is valued at $17bn by latest estimates
A June 2014 report by Bloomberg estimates the current value of Uber at $17 billion. For people who like such comparisons – that makes the five year-old firm more valuable than Hertz – the global car rental firm that has been around for almost 100 years.
5.€10,000 fine for every pick-up attempted by Uber drivers in Brussels
In April 2014, a Brussels court tried to ban Uber by imposing a fine on every attempt to pick-up a passenger. The ruling is typical of the reaction of many cities and regulators to the new challenger – and in Brussels the decision infuriated many people including Neelie Kroes, Vice President of the European Commission. Uber continues to grow in this city as it does elsewhere.