Preview: Post-ownership Products

By Aleksandra Szymanska 04 : 04 : 2017 Civic Brands : Peer-to-peer : Product Design

Global – The continued rise of peer-to-peer networks is fuelling a new wave of products that are designed to be shared rather than owned.

Economists at the 2017 World Economic Forum predicted that by 2030 Millennials won’t own anything any more
Growth in peer-to-peer transactions means the UK’s sharing economy value could reach £140bn ($176bn, €162bn) by 2025, according to PricewaterhouseCoopers

Sharing-economy platforms, particularly in the automotive and housing sectors, are now expanding into post-ownership networks built around communal products.

One brand that has designed for multiple owners from the start is Lynk & Co. The automotive company offers consumers the option of merged usage, where products are shared within an informal community. The ‘buyer’ will pay a monthly subscription fee for his or her vehicle, and the model makes sharing easy as the owner will be able to grant access to others via a digital key, and will be able to track the location of the car.

Airbnb is also working towards making home-owners more comfortable creating shared spaces through its partnership with smart home provider Vivint.

The Big Picture

As consumers become less concerned with physical possessions, brands will need to design their products to appeal as a shared resource. For more, read our Post-ownership Products microtrend.