The new collaborative economy is becoming more and more important in our society. The consumption of products and services by subscription forms an integral part of this new usage economy. Discover the key principals of collaborative economy. And understand why a subscription offer is essential for best responding to the new consumption patterns of your customers today.
Collaborative economy, new socio-economic model
Collaborative economy is a term which brings together the new forms of sharing, exchanging and leasing that the internet allows, to enable collaboration between individuals.
Key players in the new collaborative economy are companies such as Blablacar, Airbnb or Uber.
Here is some interesting data on collaborative economy which helps us to understand the extent of the phenomenon:
● 90,000 start-ups make up the world new economy market
● 302 billion euros: estimated worldwide revenue for the sector for 2025
● 83 billion euros: draft revenue for the collaborative economy in Europe
● 9 out of 10 French people already report having practised collaborative consumption
Read this Time article on the importance of the collaborative phenomenon
Subscription at the heart of the new collaborative economy
The subscription economy is an integral part of the new collaborative economy. Indeed the latter encourages consumption without encouraging the possession of products and consumed services. Another point, subscription makes it possible to benefit from products which we could not necessarily get for ourselves: we no longer own products, we simply consume their usages.
The subscription economy is now largely commonplace and now reaches all sectors of the economy. Rather than carrying out one-off purchases, many consumers now choose to subscribe to a service in order to receive a regular service.
Services which are more and more personalized: the consumer can now choose a tailor-made gas and electricity subscription, receive their Nespresso capsules every month, their contact lenses and even their boxed water.
The subscription economy is perfectly integrated into the consumption habits of the new generation: it becomes less expensive to regularly resort to Lyft, Uber and Blablacar than to have your own vehicle, subscribing to Netflix or Spotify costs much less than buying films or music from the dedicated online platforms.
Zuora and the new subscription economy
Advantages of the subscription economy by l’atelier.net
Subscription, a winning model for companies
Subscription is therefore proven to be a genuine winning model for your company. Whilst simply responding to the new expectations of your consumers, you are generating a source of recurring revenue as well as a powerful lever for developing customer loyalty.
Why are you waiting to launch your product or subscription service offer with ZIQY?
Read our article on the importance of subscription in your customer loyalty strategy