The credit-crunch compromise for consumerism
Implications - Rental culture became a notable trend in 2008, but the recession has turned temporary ownership into a huge business opportunity. Whether it's a trial before investing in something pricey, a taste of something unaffordable, or the ability to fake status, rentals cater to those who want it all, but can't afford it.
Trend Themes
1. Rental Culture - Temporary ownership has become a huge business opportunity, as seen with DriveMint.com and Rentobile Mobile Devices, offering customers the ability to try expensive or new items at lower costs.
2. Experience-based Economy - The rise of rental services highlights the growing trend of an experience-based economy, with companies like Maslow Art Group offering a Netflix-like model for experiencing fine art and Guitar Affair letting people rent instruments and try them out for a few nights.
3. Shared/peer Economy - Peer-to-peer rental services are changing the way people access products, as seen with the National Gumball Rally and Office Agents offering the rental of fake family members and friends for weddings, while Top Shop offers free bike rentals in an effort to promote a greener and more affordable way of living.
Industry Implications
1. Rental Industry - As rental services continue to grow, businesses can look to create new rental opportunities for products traditionally seen as un-rentable, such as grandmothers or expensive jewelry.
2. Experience Industry - The experience-based economy provides opportunities for businesses to offer trial or renting services for new, expensive, or experiential products that may otherwise not be accessible to all consumers, such as fine art or high-end musical instruments.
3. Sharing Economy - The rise of peer-to-peer rental services presents opportunities for businesses to think outside the box and offer unique rental services, such as car rallies or fake family members, while promoting the idea of a more sustainable and eco-friendly lifestyle through bike rentals and other green initiatives.
11 Featured, 64 Examples:
2,589,095 Total Clicks
Date Range:
Jan 09 — Dec 09
Trending:
Warm
Consumer Insight Topics:
