Brands that don’t think about sharing will be left behind

Brands that aren’t thinking about the sharing economy are going to get left behind, said Rachel Botsman, founder of Collaborative Lab, to an audience at the Mumbrella360 conference.

“Our kids – the concept of ownership will be completely different to them,” Botsman said. “It’s this convergence of social, mobile, location that enables us to create trust and efficiency… in ways that had never been possible.”

L:R Bruce Jeffreys, GoGet, Andy Taylor Yatango Rachel Botsman, Collaborative Lab, Jordan Condo, Uber, Vanessa Liell, n2n Communications

Botsman argued that trust in big institutions is broken, especially in areas like banking and insurance, but she said brands can get involved in three key ways, noting Westpac’s investment in SocietyOne and Google’s investment in Uber.