Peak Stuff
Last week another press release came over the transom. It was from Rentus.com (took me awhile to figure out it’s not pronounced like Brutus but rather pronounced Ren-tis, and dropping the “e” from their logo does them no service, but that’s for another post). What got our attention? In their announcement, they not only claim to be the Airbnb or Uber of “stuff,” but that users can purchase comprehensive damage waiver coverage, making it easier to do business by turning friction into flow. We’ve long believed that barter would be on the horizon and versions of that have evolved with home sharing sites or businesses that are the ‘Uber, Airbnb, or TaskRabbit’ of (fill in the blank), like Rentus. I don’t know how successful Rentus is but what I do know is that they’re tapping into an ethos that we at Outsell have called “peak stuff.” Overlay the 2008–09 economic downturn with credit card debt through the roof and a generational shift, and you get things like tiny houses and a cohort whose focus is “less is more.” Up pop things like Rentus, and up pop signs like those seen recently by Outsell’s Chief Analyst, Leigh Watson Healy.
Just this week she was talking about “peak stuff.” Just try to give your grandma’s armoire away. Fine china anyone? How about some silver candelabras and crystal? Or downsize the house your kids grew up in and try — just try — to give away that favorite heirloom you got on your wedding day. Bah!
While there are plenty of folks focused on disposable fashion and Ikea, there are just as many saying no to stuff. There’s more than one reason why brick and mortar stores are having fits, and it’s not just e-commerce. Purchasing over the web is still a relatively small percentage of overall retail expenditures. People’s habits are changing, and the brick and mortar to e-commerce transition makes our industry’s print to digital transformation look like peanuts given the spend at stake.
In an era of peak stuff where everyone is able to sell to anyone, or rent, barter, or exchange, there are huge implications for industries built on advertising.
Google will slow over time, search is becoming a sewer, and Facebook will continue to pick off mobile advertising dollars and might, just might, fix its fake news debacle. At some point, they will also slow, and with it the ads trying to grab our attention to buy more.
Advertising and lead generation is not a great place right about now, and we don’t see it getting better. Why advertise when consumers are deciding that Rentus, the Airbnb or Uber of (fill in the blank) are just fine and so too is giving away free stuff and some plants?
Anthea C. Stratigos is Co-founder & CEO of Outsell, Inc., the leading research and advisory firm focused exclusively on data, media, information, and technology. Join our exclusive global community supporting over 3,000 executives and influencing billions of dollars in deals. Advance the business of data, see around the corner, grow revenue, and build truly meaningful relationships. Contact us today to start your journey!