Family Vacation

07 Aug The Customer Experience in the Collaborative Economy Era

Have no doubt that the Collaborative Economy is here to stay.

Most of us have heard about the Collaborative Economy and are familiar with the concept that customers increasingly prefer to share products with each other instead of buying them. What most people don’t realize is that the Collaborative Economy is worth $26 billion.

Altimeter Group analyst, Jeremiah Owyang, has developed great research aimed at understanding this market and its key players. Jeremiah defines the Collaborative Economy as the next phase of social business, and specifically says:

Social technologies radically disrupted communications, marketing, and customer care…. Beyond business functions, the Collaborative Economy impacts core business models.”

Propelled by social and mobile technologies and associated with consumers’ desire for better customer experience, the Collaborative Economy is challenging many companies in various industry segments to rethink their strategies. Customers expect companies to support new channels of communication that meet them where they are, providing the right information — in real-time.

With many people planning on enjoying the last weeks of summer, we’ve created this infographic that showcases key stats about the Collaborative Economy, and highlights some of the new services consumers are using to plan their hassle-free vacations.

To read more details about the Collaborative Economy, check out Jeremiah’s blog.

Any thoughts about the Collaborative Economy? Please share them with us.

Collaborative Economy Infographic