Everyone knows businesses today are grappling with the smart phones, cloud sync, and shared business models. A sudden rush of shared business globally is witnessed as a new wave gaining an impromptu success leveraging on trust, convenience, and a sense of community factors. With the advent of smartphones - mobile apps has disrupted the preconceived notion about the consumer cycle. There are more early adopters in the market, ready for quick acceptance of brands with low entry barriers. This has demanded the innovation clock to set to fast-pace. The concept of shared economy has made itself popular because of its sheer ability to make money from underused assets in terms of services like renting homes or anything under the sun, one could think of - in exchange for money. Consumers are showing a greater acceptance rate like a robust appetite for sharing-based economy model.The business of sharing broadly lies under the wider market of:
- Hospitality and Dining: Oyo, Airbnb, Zomato, etc.
- Automotive and Transportation: Ola, Uber, Zoomcar, etc.
- Retail and Consumer Goods: Neighborgoods, SnapGoods, Poshmark, Tradesy
- Media and Entertainment: Amazon Family Library, Wix, Spotify, SoundCloud, Earbits
In this plenary session we are set out to explore how location technology in the sharing ethos will make its mark to understand what incumbents and challengers must do, to position them ahead of disruption and capitalize the new sources of revenue. Collaboration with location technology: the sharing economy future to target consumers and measure success, constantly refining and optimizing campaigns with daily data insights will be ‘the next big thing’ to provide first-hand information in real-time. Thus, businesses running for success can no longer afford to ignore the power of location data. It's available, it's new, and it's going to change how businesses grow.Below focused will be our discussions around the location technology as a key component:
- How location technology can be the key to unlock a better user experience through the shared economy?
- How to mitigate the risks for mature industries, incumbent disruptors, and for challengers?
- What type of location technology ingredients will be the key to success in this business model?
- Foresee the uncertainties and the opportunities?
- How location-based sharing economy concepts are applied to existing business models across industries?