The Ownership 2.0 Association Promotes New Ownership Models
New Association Brings Together Innovative Companies, Including TechForward, Bag Borrow or Steal, BookRenter.com, and Simply Audiobooks
LOS ANGELES, CA, August 19th, 2008 — The Ownership 2.0 Association (O2), an industry group for companies whose business models take ownership in creative new ways, today announced its official launch. O2 is comprised of forward-thinking companies that help customers manage the complete ownership cycle of their products through business models that include subscription services, temporary ownership and fractional ownership. O2’s mission is to breathe new life into stagnating consumer and retail communities, while promoting members’ shared values globally.
Traditionally, consumers buy a product, own it for a length of time, and then either put it in storage, add it to their household clutter, throw it away, recycle it, or sell it. This is what O2 defines as Ownership 1.0. Ownership 2.0 is the new mindset among shoppers who plan to use their products for a limited period of time. O2 is the first industry group to attempt to raise awareness in the general retail market about new alternatives available to consumers.
“O2 companies don’t just focus on selling products, but rather on the complete ownership cycle,” said Scott Langdoc, vice president of Global Retail Insights, the retail arm of IDC. “One of the common threads binding these companies together is an understanding that a product’s useful lifespan varies from customer to customer. Ownership 2.0 is a fascinating trend in the consumer and retail sectors, and O2 is clearly leading the way.”
“Across all retail sectors, consumers are realizing that long-term ownership often doesn’t make sense anymore,” said Jade Van Doren, president of O2 and chief executive officer of TechForward. “For many consumers, it’s a simple matter of economics, others tire of products quickly, and some just want to avoid clutter.”
TechForward, which provides innovative ownership models in consumer electronics, is the parent company and lead sponsor of O2. Other members include Bag Borrow or Steal, BookRenter.com and Simply Audiobooks.
“We are excited to be working with the Ownership 2.0 Association to educate people about the benefits of these next-generation ownership models,” said Jodi Watson, advisory board member of O2 and chief marketing officer of Bag Borrow or Steal. “The services offered by O2’s members empower people to experience the latest products and content, without the commitment of standard ownership.”
Ownership 2.0 business models don’t just focus on the sale of products, but rather on the complete ownership cycle, from acquisition to environmental disposal, or often reuse. Ownership 2.0 companies recognize that a product’s useful lifespan varies from customer to customer, which allows for the spreading of the cost of the product over multiple customers. The goal of the association is to aid the advance of these ownership trends in the consumer and retail sectors by sharing best practices across vertical markets, leveraging the group’s voice in interacting with the media, encouraging innovation, and facilitating business development initiatives.
“Each member company brings its own vision to the table,” said Marc Lebovitz, advisory board member of O2 and cofounder of TechForward. “As the lead sponsor of O2, TechForward’s future is tightly interwoven with our fellow O2 members, and great potential exists for collaboration.”
Companies interested in finding out more about O2 should visit www.ownership20.com for more information, or contact join@ownership20.com.
About The Ownership 2.0 Association
The Ownership 2.0 Association (O2) is composed of companies that help customers manage the complete ownership cycle of their products through business models such as subscription services, temporary ownership and fractional ownership. O2 is dedicated to the advancement of these new ownership models and the promotion of their adoption in the consumer and retail community. The association strives to bring the business models and companies that drive Ownership 2.0 to the forefront of the global discussion about consumer retail trends and environmental responsibility, while promoting members’ shared values globally. TechForward, which provides innovative ownership models in consumer electronics, is the parent company and lead sponsor of the Ownership 2.0 Association. For more information, visit www.ownership20.com.
Media Contact: Maria Canul
Public Relations Director
O2 Council and TechForward
MCanul@GlobalFluency.com
Direct: (650) 433-4173
[...] During that time, the company figures it has helped divert about 5 million tons of this stuff from landfills. Now officially known as Gazelle, the site is officially out of beta and focused on establishing relationships that could make it a valuable partner for the business community. I would put Gazelle in a similar class (although not the same) as TechForward, a site that provides a guaranteed buyback service when you actually buy your new device. Gazelle is modeled more after eBay, in which how you get rid of your device is an afterthought. TechForward is part of a movement called Ownership 2.0 (honestly, I’m not making it up), which makes green disposal part of the “purchase” process. Here’s more on the concept. [...]