Auto brands become a part of the sharing economy conversation
Implications - The transportation industry is one most effected by the rise of the sharing economy; in order to stay relevant in a world free of full ownership, many auto brands are offering sharing options to consumers. This simultaneously ensures the brands show adaptability, while opening a new concept up to a more mainstream market.
Workshop Question - How can your brand become more connected to the consumer desire for share culture?
Trend Themes
1. Shared Economy Transportation - Auto brands are offering sharing options to consumers to stay relevant in a world free of full ownership and show their adaptability.
2. Luxury Car Sharing Programs - Luxury automakers have launched car-sharing programs where individuals can join a 'circle' to split a brand new luxury car, which incentivizes brand loyalty through personalization and collaborative arrangements.
3. Self-driving Car Shares - Maven from GM moves towards autonomous vehicles and providing ride-hailing services leveraging self-driving technology while offering users networking options and lower-cost all-inclusive rentals.
Industry Implications
1. Automotive - Companies need to reconsider the very concept of owning a vehicle and diversify their business models from product sales to new services or experiences.
2. Transportation - As people embrace the shared economy, transportation becomes an industry that is shifting towards access to services rather than ownership.
3. Mobile App Development - The new trend for shared vehicle ownership requires flawless mobile solutions that connect riders and drivers, and improve the user experience across the supply chain.
