This paper is about the brand collaboration "Coli" between the home and living online platform "Westwing" that excels in providing their customers a "curated shoppable magazine" with German market leader of residential real estate Vonovia. In the German market, a white space is emerging in the short-term housing market, serving tenants who are looking for an uncomplicated, fast, and convenient solution to get a personalized and unique flat "home away from home". Coli are flats provided by Vonovia and furnished by Westwing. Vonovia enables this concept of simplicity, choice and personalization with its more than 500 000 flats in 400 German locations. A Coli flat can be easily booked via app or website: a two-door process, in which in the first step the location and basic design of already existing flats are selected, in the second step tenants can book aesthetic personalization and services, enables the customer to get a perfect individualized flat. Coli’s target market are business travelers who must go on a project-related month(s)-long business trips or temporary trainings. The privacy of living in a flat that feels like home massively increases the recreational factor of its users. With the slogan "a home that relocates with you", Coli's mission is to offer an ”all-inclusive-solution” for an aesthetic, personalized, interior-designed home to anyone looking for an apartment for a limited period, with convenience, quick booking process and a ready-to-move-in approach, while satisfying the demands and concerns that usually arise during a short-term move.
Table of Contents
Executive Summary
Introduction
Part I: About Brand A: Westwing
Part II: About Brand B: Vonovia
Part III: Collaboration Coli between Westwing and Vonovia
Identifying a White Space
Segmentation and Target Market
Positioning of the Brand Collaboration
Creation of Personas
Brand Collaboration Strategy & Execution
The provided Customer Experience
Marketing Mix
Conclusion
Research Objectives and Themes
This paper explores the strategic brand collaboration "Coli" between Westwing and Vonovia, which aims to provide an all-inclusive, aesthetically pleasing, and personalized short-term housing solution for business travelers and individuals requiring temporary accommodation in Germany.
- Analysis of the German short-term rental market and the identification of a "white space."
- Evaluation of the brand synergy between a real estate market leader (Vonovia) and a home décor expert (Westwing).
- Assessment of the customer-centric business model and the "ready-to-move-in" service approach.
- Investigation into how personalization and interior design influence the customer experience during temporary relocation.
Excerpt from the Book
Identifying a White Space
Today's interconnected world is fueling flexibility in the work and study environment and a general change in work locations. Also in Germany are long-term, project-related business trips and remote work recent drivers that require a housing market specialized in temporary, furnished accommodation. However, these work and study-related relocations are often associated with frustration: with 1.9 million missing affordable flats in urban areas, the German housing market has far too few flats. A study shows that the search for a flat usually takes 2-3 months (Statista, 2022a). Additionally, 80% of landlords only enter into tenancies that are more than three years, while 18% want tenants who move in between 1-3 years. Only 2% of landlords are interested in tenancies that are short-term and no longer than one year (ImmobilienScout24, 2019). In addition, the majority of rented flats in Germany are owned and managed by private individuals, leading to 25% of tenants feeling legally insecure about renting a flat from a private landlord (ImmobilienScout24, 2019).
Although Germany has "apartment-hotels" as well as "short term housing" (please see chapter positioning for a market breakdown), these providers do not value do not provide extras like a vacuumer, an iron or a coffee machine- extras, that make tenants feel at home. Additionally, none of them can be personalized. Also, they usually do not emphasize aesthetics and the provided rooms are similar to standard 3-star hotels, while still costing either the same as a rented apartment up to even double. A study by the German opinion research institute IfD Allensbach found out that around 70% of tenants living in Germany value a beautifully furnished and decorated home and are looking for exactly that when renting an apartment (Appendix 4).
Summary of Chapters
Executive Summary: Provides an overview of the "Coli" collaboration, which combines Vonovia’s housing portfolio with Westwing’s interior design expertise to create a tailored, short-term living solution.
Introduction: Outlines the shift in housing needs driven by increased professional mobility and the necessity for flexible, temporary living concepts in Germany.
Part I: About Brand A: Westwing: Details Westwing's business model as an online shop and curated platform that offers inspiration and home products for various style-conscious targets.
Part II: About Brand B: Vonovia: Describes Vonovia's status as a major player in the German real estate market, managing a vast portfolio of residential properties.
Part III: Collaboration Coli between Westwing and Vonovia: Explains the strategic synergy between the two companies focusing on market segmentation, brand positioning, persona development, and the unique service offering for business travelers.
Conclusion: Summarizes the value proposition of the Coli project and emphasizes the potential for this model to effectively address the pain points of individuals in temporary work situations.
Keywords
Brand Collaboration, Coli, Westwing, Vonovia, Short-term rental, Housing Market, Business Travelers, Interior Design, Customer Experience, Personalization, Temporary housing, Real Estate, Service-oriented living, Germany, Market whitespace.
Frequently Asked Questions
What is the core purpose of this collaboration?
The collaboration aims to fill a market gap by providing fully furnished, aesthetically personalized, and move-in-ready short-term apartments for people who need to relocate temporarily for work or other reasons.
Who are the target audiences for this service?
The primary target audience includes business travelers, consultants, and corporate employees who require temporary accommodation (usually one month or longer) and value professionalism combined with a "home-like" atmosphere.
What is the primary objective of the researchers?
The research seeks to demonstrate how a strategic partnership between a real estate leader and a home and living brand can solve tenant frustrations and improve the quality of temporary housing.
Which scientific/business methods are utilized?
The study employs market analysis, competitor benchmarking (perceptual mapping), persona creation for specific user types, and an evaluation of the "marketing mix" strategy.
What is covered in the main section of the paper?
The main part examines market dynamics in Germany, the specific service offering of "Coli," the logistical and design-based customer journey, and the strategic positioning of the brands involved.
What defines the core characteristic of this project?
The project is characterized by its "all-inclusive" approach to moving, which removes administrative or set-up hassles, coupled with a high degree of style and personal customization.
How is the "customer-centric" approach implemented in the Coli model?
It is implemented through a simple two-step booking process, where users select a design style and can further personalize the apartment with items such as personal photos and favorite home scents.
What competitive advantage does Coli offer compared to standard apartment hotels?
Unlike standard hotels or sterile temporary housing, Coli offers interior design, home amenities (like coffee machines and irons), and a personal touch that makes the space feel like a real home rather than a temporary dorm.
In what way does the collaboration address the needs of long-term travelers?
By providing a standardized yet personalized living environment, it alleviates the loneliness and inconvenience typically experienced by business travelers who are forced to stay in impersonal hotels for weeks or months.
- Arbeit zitieren
- Anonym (Autor:in), 2022, Short-Term Housing Solution "Coli" in Germany. A Brand Collaboration between "Westwing" and "Vonovia", München, GRIN Verlag, https://www.grin.com/document/1348581
