an introduction to the sharing economy
TRANSCRIPT
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Sharing Economy
An introduction to the
Daniel Ord Rasmussen @danielord
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We help organisations develop. We often work with digital approaches - but not always.
Seismonaut?
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Introduction to the Sharing EconomyOr the Collaborative Economy, if you prefer.
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“An economic model based on sharing, swapping, trading, or renting products and services, enabling access over ownership.”
- collaborativeconsumption.com
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It is a trend in the business landscape in general, but is perhaps especially important for the tourism sector.
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The general idea: The utilisation of unspent ressources made possible through social sharing platforms and marketplaces.
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Airbnb as an exampleProbably the most well known one too.
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Your house is emtpy while you are on holiday.
That’s a waste of ressources.
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So what is Airbnb?
• A platform that allows private individuals to share their homes:
• Single rooms
• Entire homes
• “Unique homes”
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In their own words• According to Airbnb the service contributes to local
economies, because it expands the existing ecosystem rather than cannibalising it.
• In Paris 70 % of listings are outside of central tourism districts.
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Kilde: Airbnb
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Airbnb in NorwayLatest stats
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8.107As of the 8th of October 2015 there are
Airbnb listings i Norway (Source: Airbnb)
Kilder: Aja Guldhammer, Airbnb, og NHC http://www.nordichotelconsulting.com/files/NO-monthly-reports/Markedsrapport_Norge_august.pdf
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79.638For comparison, there are
hotel rooms (Source: NHC)
Kilder: Aja Guldhammer, Airbnb, og NHC http://www.nordichotelconsulting.com/files/NO-monthly-reports/Markedsrapport_Norge_august.pdf
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1.040Another way of looking at it is that there are
hotels i all of Norway (Source: NHC)
Kilder: Aja Guldhammer, Airbnb, og NHC http://www.nordichotelconsulting.com/files/NO-monthly-reports/Markedsrapport_Norge_august.pdf
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3.502But in Oslo alone there are
Airbnb listings (Source: Airbnb)
Kilder: Aja Guldhammer, Airbnb, og NHC http://www.nordichotelconsulting.com/files/NO-monthly-reports/Markedsrapport_Norge_august.pdf
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Airbnb is so big that others are creating companion services• Hotels often work with
dynamic pricing.
• Pricemethod allows you to do the same with Airbnb.
• A management system for a management system - a professional approach to an amateur platform.
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The Airbnb-model• Airbnb is now worth more than all of Mariott
• Marriott: $21 mia. (Source: WSJ)
• Airbnb $24 mia. (Source: WSJ)
• The success of Airbnb has created a model for what people expect out of sharing economy-services.
• Airbnb is still fighting laws and legislation all over the world. Something that is quite common in the sharing economy.
http://www.wsj.com/articles/the-secret-math-of-airbnbs-24-billion-valuation-1434568517
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Norwegian law• Norwegian law allows for renting out up to 50 % of a
home tax free.
• Renting out an entire home is not tax free - but the first 20.000 kr. are.
• “Leieinntekter ved utleie av bolig regnes som kapitalinntekt, og skattlegges med 28 prosent. På slutten av året kan du gå inn på Airbnb sine sider for å finne ut hvor mye du har leid ut for det året, slik at du kan føre det inn i selvangivelsen.” (Source: finanssans.no)
http://www.finanssans.no/dette-ma-du-passe-pa-nar-du-leier-ut-med-airbnb/
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“Airbnb for bikes”• Danish company - http://www.cyclister.com/
• Example of the “Airbnb for X” model.
• Renting a bike on Cyclister costs roughly 6 to 12 euros per day.
• Is there a market? According to them, 25 % of tourists visiting Denmark rent a bike.
http://www.pcworld.com/article/2843192/cyclister-wants-to-become-an-airbnb-for-bicycles.html
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“Airbnb for dogs”
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Valued at more than $ 140 mio.According to Fortune, TechCrunch og Pitchbook
http://techcrunch.com/2014/11/10/dogvacay-airbnb-for-dogs-nabs-25m-in-funding/ https://www.quora.com/Startup-and-Private-Valuations/What-is-the-latest-valuation-of-DogVacay-in-2014
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AirpnpAirbnb for toilets
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• Boathound - for boats
• Hipcamp - for camp sites
• StreetLend - for everyday items
• Housefed - for home-cooked food
• Vayable - for experiences
• Spinlister - for snowboards and skis
• Spot Park - for parking
• …
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… and the award for most outrageous Airbnb for X-service goes to…
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http://canistaywithyouwhileirentmyplaceonairbnb.com/
Airbnb for Airbnb
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Why are these services important?• They may not be on their own - but the proliferation of
them is.
• The Sharing Economy no longer only affects hotels - many parts of the tourism industry are being affected.
• As a tourism actor it is important to keep up with what this means for your sector.
• There will undoubtedly be both new business models and ideas worth pursuing.
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The Sharing Economy isn’t just about tangible products and services. It’s also having an influence on how tourists view an authentic travelling experience.
Guest want to be travellers - not tourists.
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“Intangible heritage”• Previously, people’s understanding of “authentic experiences”
was based on symbols built over time, i.e. the Eiffel Tower.
• Today there is an increasing interest in “intangible heritage”.
• Pop culture, local traditions and storytelling.
• Increasing interest in active participation vs. passiv observation.
• 27 % of travellers from the US are “sophisticated explorers” for whom “exploring new cultures and their traditions” is the number one reason to go.
• The previous way of viewing authenticity is still prevalent in emerging markets.
Image: iStock Sources: Greg Richards 2014 & 2015 Resonance Report Portrait of the US International Traveller via http://www.slideshare.net/chrisfair/15-024-res-webinar-tourism-2020-high-res-opt
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Share your passion with others
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Image: iStock
Enriches destinations• Travellers seeks authentic local experiences.
• More people take shorter breaks.
• Sometimes they will be interested in a summerhouse, other times a hotel and other times an Airbnb-home.
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Image: iStock
Enriches destinations• Destinations need to widen their product offering to
appeal to increasingly “capable” travellers - sharing economy-services ease this proces.
• Services such as Airbnb help foster local host-culture - makes locals feel a part of the tourism industry in a new way (review culture etc.).
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There are drawbacks• Laws and liability
• Trust and safety
• Traditional business models may be keyed in to local economies in a big way
• Service level based on review culture (“Give me this, or I’ll give you a bad review…”
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See the Sharing Economy as an opportunity - not a threat• More choice and more experiences means a more
attractive destination.
• There are challenges for existing businesses - but also possibilities of new products and new places to market existing offerings.
• Don’t be afraid to make alternative set-ups and new types of cooperative efforts.
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European PGA Tour in Vesthimmerland, Denmark
Image: iStock
• Massive event, thousands of visitors - not enough hotels!
• Local municipality worked with Airbnb to teach locals how to add their homes to the available hospitality.
• = far more places for guests to stay!
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Northside Festival, Aarhus Denmark• Music festival attracting 25.000 visitors to a
city with 1.892 hotel rooms. • Cooperative project between the festival and
Airbnb had both featuring each other on social media etc.
• = more places for people to sleep
Horesta source: http://www.horesta.dk/sitecore/shell/Controls/Rich%20Text%20Editor/~/media/Filer/Materialer/tendens/2014/Hotelkapacitet_Januar2014ver5.ashx Image: https://www.flickr.com/photos/kristoffer-trolle/
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https://www.flickr.com/photos/daspunkt/18840294641
Hvide Sande DMO, Denmark• Offered free courses in the use of
Vayable
• Goal: Increase the amount of experiences available to guests by having locals offer tours via social marketplaces
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http://www.flickr.com
/photos/stuckincustoms/2380543038/ Thanks for listening!
Questions? Let’s [email protected]
Twitter: @danielord