Sharing Economy: Collective Reading Session 02 PDF

“Sharing economy: seeing through the fog” COLLECTIVE READING SESSION: 02 Moderated by Group 03 Arzoo Ansari Martin Crisna Gita Nathaniel Shiela Kishorevijay Lakshmanan What is Sharing Economy??? Join at menti.com and use this code: 3755 8187...

“Sharing economy: seeing through the fog” COLLECTIVE READING SESSION: 02 Moderated by Group 03 Arzoo Ansari Martin Crisna Gita Nathaniel Shiela Kishorevijay Lakshmanan What is Sharing Economy??? Join at menti.com and use this code: 3755 8187 2 Results WHAT IS SHARING ECONOMY? Goods and resources are shared by individuals and groups in a collaborative way such that physical assets become services SE transaction value is set to reach €335 billion by 2025 in Europe 3 KEY THEMES OF SHARING ECONOMY Consumer Motivation Financial Benefits Ownership Convenience Sustainability Impact on Society, Market & Policy Economic empowerment Social Inclusion, Disruption of traditional market Taxation and labor rights Housing 4 SHARING ECONOMY FRAMEWORK Temporality of Transaction Permanent Temporary Seller On-Demand New Aggregators Renters Shared Asset Existing Lifecycle Ephemeral Extenders Matchmakers 5 Ready for Another Round? Join at menti.com and use this code: 3755 8187 6 Results  MARKET ARRANGEMENT Temporality of Transaction Permanent Temporary Multi-sided Platform Seller On-Demand Two or more groups of customers are brought New together through a platform Aggregators Renters Often leverage idle capacities, valuing Shared Asset underused assets Service Providers Existing Lifecycle Ephemeral Extenders Matchmakers The company is actual owner of the shared good Innovative version of the traditional renting business model 7  EPHEMERAL MATCHMAKERS Temporality of Transaction Permanent Temporary “ Seller On-Demand New Aggregators Renters Book unique homes and experience a Shared Asset city like a local Success factors: Existing Lifecycle Ephemeral Cross side network externalities Craft strong value propositions for each side's motivations Extenders Matchmakers (e.g. experience for consumer and financial gains for provider) Ability to build trust amongst participants 8  LIFECYCLE EXTENDERS Temporality of Transaction Permanent Temporary “ Seller On-Demand New Aggregators Renters Give before you take it: What have you Shared Asset done to save the planet today? Success factors: Ability to build trust amongst participants Existing Lifecycle Ephemeral Strong value proposition focused on sustainability and Extenders Matchmakers convenience Effective marketing and community engagement 9  SELLER AGGREGATORS Temporality of Transaction Permanent Temporary “ Seller On-Demand New Aggregators Renters Shared Asset The data we collect allows us to understand our customers better and help local restaurants Success factors: Existing Effective two or multi-sided market management Lifecycle Ephemeral Data utilization and personalization to enhance Extenders Matchmakers marketing strategies Innovative pricing and value capture models to increase market competitiveness 10 HOW TO BUILD TRUST IN MULTISIDED PLATFORM? Identity User Reviews Secure Payment Verification 11  ON DEMAND RENTERS Temporality of Transaction Permanent Temporary “ Seller On-Demand New Aggregators Renters 24/7 Bike Rental, find a bike near you Shared Asset and unlock with your phone Success factors: Align motivation with the value proposition to boost Existing Lifecycle Ephemeral participation (e.g. sustainability and convenience) Extenders Matchmakers Leverage on-demand technology linked to mobile applications Efficient capital management for platform establishment and asset acquisition 12 GREEN BRANDING Green branding has become a powerful force for businesses aiming to build sustainable brands and Sustainability as a make a positive impact on Core Principle the planet. “ The sharing economy Resources can be a catalyst for Efficiency green branding by enabling us to utilize resources more efficiently and ethically Consumer Appeal and Eco-Consciousness -Nicolas Colloff 13 CASE STUDY: TRADITIONAL COMPANIES ADAPTING TO THE SHARING ECONOMY - MARRIOTT VS. AIRBNB Rapid growth of SE platforms like Airbnb has forced Marriott to rethink its business model Consumer preferences shifting toward personalized, affordable, and flexible stays Key Question What strategic options can Marriott and other traditional companies adopt to adapt and thrive amid disruption from platforms like Airbnb? 14 COMPANY BACKGROUND One of the world's largest hotel Launched in 2008 chains. An asset-light platform for 7,000 properties in 130 renting homes or spare rooms countries. to travelers. Relies on direct ownership and More than 6 million listing franchise agreements. worldwide Offers standardized luxury for Offering affordable, unique business and leisure travelers. stays and local experiences 15 CORE CHALLENGES FOR MARRIOTT INTERNATIONAL Shift in Asset-Light vs. Technological Consumer Asset-Heavy Disruption Preferences Model 16 What are the Strategic Response Options for Marriott International? Join at menti.com and use this code: 3755 8187 17 Results STRATEGIC RESPONSE OPTIONS FOR MARRIOTT INTERNATIONAL 1 2 3 4 Enhancing Launching a Partnering with Loyalty Digital Competing SE Platforms Programs Transformation Platform Through Experiences 18 TIMELINE OF SOLUTION Long Term Response II Bonvoy, for personalized experience-driven travel. Long Term Response I Invest in AI-driven personalization to match Airbnb's tech while leveraging Marriott’s loyalty program. Medium Term Response Launch Homes & Villas by Marriott to provide luxury home- sharing with hotel-like services for high-end customers. Short Term Response Marriott could partner with Airbnb to test the SE market with select premium properties while maintaining its brand identity. 19 Thank you!