Coopetition is a hybrid of the words collaboration and competition. The Oxford dictionary describes coopetition as a collaboration between business competitors, in the hope of mutually beneficial results.
Coopetition looks at the market both vertically and horizontally; vertically coopetition recognizes competitors as also being suppliers. Horizontally, it recognizes that certain companies may have different market penetration rates.
Companies are starting to look into this idea of coopetition because markets are becoming more complex. By complementing instead of competing, companies open up doors for growth for both parties. Customers are no longer committing to a single brand or company, they are looking for the combination of solutions that are the most convenient and efficient. By combining the expertise and complementary strengths of multiple companies in the same market, a more complete solution is made for the customer.
Coffee Cup Collective is doing just that. We are a catalyst of coopetition between coffee shops. Currently, many coffee shops are looking for ways to reduce their environmental footprint and waste production. When evaluating their largest source of waste they are faced with the disposable coffee cup, lid, and sleeve. Now, there are many routes to take to combat this.