The globalization of the world economy and the increased ease of relating to people via social technology, both domestically and internationally, has made interpersonal ties with digital contacts as seamless as real world relationships for Gen Y, changing our notion of community. Rachel Botsman, co-author of the newly published What’s Mine is Yours: The Rise of Collaborative Consumerism, discussed some of the findings of her research in a TED talk earlier this year.
Botsman found four core drivers in the shift to collaborative consumption:
- A renewed belief in the importance of community
- A torrent of peer to peer social networks and real time technologies
- Pressing unresolved environmental concerns
- A global recession that has fundamentally shocked human behaviors
These drivers are very interconnected.
The recession shifted many employed working and middle people from a life lived on credit to one of paying down debt and squirreling away discretionary income for a rainy day. The long-term unemployed find inventive ways to stretch a dollar before turning to family and friends, when available, for assistance when their savings, and then government support, dries up.
In both cases community is elevated. Interpersonal experience increasingly supplants excessive consumerism as a way to spend one’s leisure time. The status of stuff becomes less relevant in a world tat increasingly relies on friendship and family, however one defines the terms. Who you know takes on a greater import that what you own. Peer-to-peer networks allow you to expand the reach of your social web, which can mean increased opportunity, personally and professionally.
All of these relationships require an investment in building social capital, requiring some degree of trust as a foundation. That growing trust allows for redistribution markets like SwapTree and BookMooch and product service systems like Rent the Runway, Zipcar or Bag, Borrow or Steal to gain a foothold in a global economy otherwise focused on planned obsolescence.
A positive side effect of these changes, Gen Y is unconsciously taking a step towards addressing environmental issues by shifting to systems that allow for the rotation of ownership and use of goods and services This shift means fewer critical natural resources plundered as the utility of extant goods is expanded over time.
As collaborative consumption moves from trendy to normative behavior, the user community will continue to expand as more people participate. It could mean increased cross-cultural engagement and a lessening of the carbon footprint of humanity, which may open the doors to more directed action on environmental and social issues.








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