Australia’s Emerging Collaborative Economy

A new report suggests growing momentum in Australia around collaborative economy platforms that use technology to enable people to share and exchange a variety of goods and services.

The Emerging Collaborative Economy in Australia, produced by cloud-based customer intelligence platform company Vision Critical in partnership with consultancy Collaborative Lab and market research firm Nine! Rewards reveals there is already high penetration of brands in the space, with 61 percent of those surveyed aware of services such as Airbnb, Kickstarter, Uber and GoGet Car Share.

International startups Uber and Airbnb polled 27 percent and 20 percent awareness respectively, despite a presence in the Australian market that is less than three years old.

Online booking company Airbnb recently partnered with the Victorian Government to provide free or low cost short-term accommodation for people displaced by major emergencies including fire and flood.

“Tech-enabled collaborative economy marketplaces in the US and UK are typically one to two years ahead of the Australian market, however this is changing,” Rachel Botsman, founder of collaborative consumption consultancy Collaborative Lab, said.  

“This study reveals that Australians are open to ideas that offer new ways of consuming goods and services and the intent to share is increasing even if it is driven by practical considerations such as convenience and price.”

Some 53 percent of respondents said they had participated in some form of collaborative economy activity in the past year, though these exchanges were often taking place informally between friends and family without the use of formal platforms or technology.

“This study clearly shows how commerce is changing — impacting the customers’ decision-making and how they expect to engage with brands. It underlines the importance of brands maintaining direct conversations with their customers,” Peter Harris, managing director, Australia and New Zealand at Vision Critical, said.

The Emerging Collaborative Economy In Australia — Key Highlights:

• 14 percent of respondents have heard of the term ‘collaborative economy.’

• 43 percent relate to or understand collaborative economy behaviors such as carpooling, house swapping, crowdfunding, carsharing and coworking.

• 61 percent awareness of collaborative economy services in Australia; Uber has 27 percent awareness, Airbnb has 20 percent awareness.

• 53 percent of respondents have participated in some form of collaborative economy in the last year.

• 63 percent plan on participating in some form of collaborative economy activity in the near future; 36 percent of this number interested in trying transport related services and 36 percent in accommodation.