Collaborative consumption : its impact in the U.S.A and China
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In 2010, an innovative consumer consumption model emerged and companies like Zipcar and Groupon were important examples that demonstrated how rapidly new collaborative ventures were able to attract venture capital funding and attract members. The term “collaborative consumption” became part of the Internet lexicon and demonstrated that such sites and services were more than a way of promoting and selling products; rather, it is a marketing reflection of the ways in which it is now possible to interact and to share ideas and creative initiative in this digitally connected, globalized world. This report will examine the background of collaborative consumption and provide a pilot study examining its use across two cultures (USA and China), the life style and attitudinal variables that characterize those who use it. The discussion will also include the impact of this collaborative behavior on the role of advertising agencies as well as informed guesses about future growth of this retail and networked phenomenon.