Sustainable business model innovation: the potential of libraries of things

Baden, Denise, Peattie, Ken and Oke, Adekunle (2019) Sustainable business model innovation: the potential of libraries of things. In EURAM.

Abstract

This paper explores innovative sustainable business models that do not depend upon increasing consumption. Over the last decade there has been increasing interest in the concept of the sharing economy, also known as collaborative consumption, which replaces the focus on individual ownership with a focus on access to goods and services through borrowing, hiring or sharing. In particular we investigate the efficacy of extending the library concept to include more items, such as items that are used infrequently. The study provides a snapshot of Libraries of Things (LOTs) in the UK. The aim is to explore how UK LOTs operate and the barriers and opportunities to broaden the appeal, reach and sustainability of LOTs.
Findings based upon case studies of six LOTs across the UK, indicate that all LOTs shared common environmental and social values, with the most prevalent values being to use the library concept to reduce resource use and waste and enable more equitable access to goods. All relied up a team of enthusiasts to found the project, and aligned with partners such as local authorities who typically offered free space and charity partners who helped with funds, supplemented often by local crowdfunding campaigns and a team of volunteers.
There was a commonality in the type of items being borrowed, typically household items such as carpet cleaners, gardening and DIY tools, kitchen items computer items, games, and sports/leisure goods. There were differences in how items were sourced with the most established LOT sourcing new items through purchase or donation from manufacturers, and the less established LOTs relying mostly on public donations. Most had a mix of membership fees and individual hiring costs although one allowed payment for goods by time/goods donated too. Prices were low aimed at encouraging participation rather maximising financial returns. All LOTs expressed optimism about the potential of sharing to replace ownership and all hoped to expand their services in the future. At the time of the study, all relied on public support, and none were yet economically self-sufficient. This poses important questions about the future for LOTS and how they can transition towards the mainstream in order to make a more substantive contribution to creating a more socially equitable and environmentally sustainable economy.

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Contributors

Author: Denise Baden

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