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Sharing Economy is Changing the Way the World Consumes Product

Sharing Economy is Changing the Way the World Consumes Product

The latest trend in product consumption is growing quickly in popularity. The sharing economy is changing the way the world consumes products. This trend is important because it creates peer to peer involvement and develops a trusting community where renting, sharing, and borrowing gives birth to many benefits. The sharing economy is often referred to as collaborative consumption. It is estimated that this new way of consuming goods is being valued upwards in billions worldwide. There is more to this trend than the money. It does highlight economic advancement, but it has enhanced cultural breakthroughs as well. It has forever altered the socialisation, consumption, and mobilisation process between peers.

The Collaborative Consumption Trend

Communities are springing up all over the internet to provide avenues for the collaborative consumption process. These websites make it possible for people to list items they would like to share or rent to peers in their community. At the same time, it makes it possible for people in the community to search for items they want to borrow or hire. This creates the perfect opportunity for peer to peer relationship building. Although every community does not operate exactly the same, the general philosophy is in place. These websites provide a trusted platform for peers to lend, borrow, rent and swap a wide range of items.

The list of items that can be listed on sharing economy community sites is nearly limitless. Houses, apartments, vehicles, and even boats can be listed and rented. Talents and services can also be listed in some of these communities. Anything that can be of potential value to another peer can be listed in these communities. The opportunities are so vast, that it is hard to imagine the potential of the sharing economy. Not everyone wants or can afford to go out and buy the items they need. In many cases, they only need the items for a day or so. It makes more sense to either share, borrow or hire the items online.

To Err is Devine, to Share is Human

People from the United States and Canada to Great Britain and Europe are taking advantage of the sharing economy. In reality, sharing plays an essential role in the human condition. Studies have shown that the majority of people feel happy when they share with others. However, this trending sharing system does not rely on basic instincts alone to succeed. It revolves even more on the basis of trust. The internet is more than a communicative tool that has developed into an endless information highway. Opportunities online have brought people around the world closer together. In any situation where relationships evolve, trust must be established and justified. Such is the case with the sharing economy and peer to peer involvement.

Although the internet has certainly brought the world closer together, the truth is we are still strangers in the night until the relationship is evolved. The sharing economy or collaborative consumption can be truly beneficial to all involved, but trust must be achieved and bonds must be forged. Sharing communities are well aware of this need and it has been addressed intensively in recent years. They know that in order for the process to be successful it is essential that one peer can trust the other to rent their home and take good care of it. A peer must feel comfortable with sharing a ride with a stranger from the community. It is for this reason that each platform takes special care to screen those who join the community.

Ready or Not, the Trend is Growing

Millions of people today are joining their favourite collaborative consumption community to engage in the listing, borrowing or the renting of cameras, clothing, household appliances, and DIY tools. The list goes on and on. Many of these sharing economy sites have grown so quickly they are worth billions of dollars. The traditionally based economy has long revolved around ownership, but that no longer attracts those who cannot afford the luxury. Just because they neglect to spend a small fortune on a vehicle or a beach home, does not mean they are not willing to hire one when the desire arises.

Do not jump to just the collaborative consumption trend that is taking the world by storm. Do not let trust issues ban you from giving it a second thought. There are very many trusting people in the world and more and more are finding their way into the sharing economy. Instead of buying a riding lawnmower, imagine simply renting a great model when you need it. Imagine hiring a beautiful home for the weekend, that special sports car for a special date or a one of a kind dress for a night out. The sharing economy makes it all possible. If you have already bought all these luxuries, imagine renting them out to make extra money. The benefits are many in this trend that has changed the way the world consumes products.

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