The term Product Service System (PSS) was largely popularized by Treehugger about two and a half years ago. It describes the conversion of a product you must own into a service you can enjoy. You get what you want without having to own the actual good.

In fact, most everyday activity involves a Product Service System. You don’t own the roads you drive on, you don’t own the restaurant or parks you eat in, and you don’t own the health club that you work out in. When you take a vacation, luckily you don’t need your own airplane and you can conveniently get all the comforts of home, transplanted into a new, relaxing (maybe) environment. If you rent your home, apartment or car, you’re even more ensconced in Product Service Systems.

A Product Service System also very accurately describes what rental is. Generally, rental is defined as when you physically pay a fee to generally own an item for a set period of time. The only really difference is the fee (it’s simply lending and borrowing otherwise) and some Product Service Systems use shared, aggregated renting when appropriate. The two concepts are basicly identical - in many ways, the exact same thing.

New companies are emerging to fully embrace this trend. Zipcar is a leader in cars, BagBorrowOrSteal in handbags and designer goods, and there are many more emerging examples.

With going green reaching its noisiest levels and likely to lose its steam for the masses, however, I do envision the need for more solidified solutions. The pie in the sky is that every consumer will take initiative to embrace this lifestyle. It makes for a great story and we’re all for it too. However, most people will not take action unless it affects their day-to-day lives. This is where Product Service Systems can be one pragmatic solution to environmental problems.

As such, what’s MOST interesting to us is that Product Service Systems truly mimic day-to-day life. Personally, I quite honestly don’t care about stuff - I more poingantly care about experiences that allow enhancement and enjoyment of life. It’s this appeal I think will prove most successful in the long run and most successful businesses will cater to this want to increase enjoyment without the hassle of more stuff.

With tens of thousands of DVDs available and hundreds of games in just these two categories, iLetYou is only at the beginning as advocates of the Product Service System as a whole. Look out for more posts, info and developments.

Are you a company (or individual) that takes advantage of Product Service Systems (or rental as a segment of these systems)? Send us an e-mail at ideas@iletyou.com. I’d love to hear from you.

Thanks,

Rodger Visitacion
Founder & CEO

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