Why do people participate in collaborative consumption?

The results show that participation in collaborative consumption is motivated by many factors such as its sustainability, enjoyment of the activity as well as economic gains. This suggests that sustainability might only be an important factor for those people for whom ecological consumption is important.

What other markets might benefit from collaborative consumption?

The collaborative consumption model is used in online marketplaces such as eBay as well as emerging sectors such as social lending, peer-to-peer accommodation, peer-to-peer travel experiences, peer-to-peer task assignments or travel advising, and carsharing or commuting-bus sharing.

Which practices are considered collaborative consumption?

Collaborative consumption as a concept was defined as follows [1]: ―Traditional sharing, bartering, lending, trading, renting, gifting, and swapping redefined through technology and peer communities- that is remodeling business, consumerism, and also the means we tend to live‖.

Is collaborative consumption sharing economy?

Collaborative consumption is “an economic model based on sharing, swapping, trading, or renting products and services, enabling access over ownership”. Sharing economy is “an economic model based on sharing underutilized assets from spaces to skills to stuff for monetary or non-monetary benefits.

What is meant by collaborative consumption?

Collaborative consumption is a form of sharing. Peer-to-peer renting, for example, has been used by societies for thousands of years and provide a group of individuals with an asset without requiring each person to purchase it on his or her own.

Why is the sharing economy important?

Significance of a Sharing Economy Sharing economies enable people and organizations to make money from underused resources. In a shared economy, unused assets such as parked vehicles and spare bedrooms can be leased out while not in service. Physical assets are thus exchanged as services.

What is collaborative consumption describe three collaborative consumption models?

Elements of the collaborative model include bartering, sharing, gifting, lending and leasing or renting. Examples include Uber, an app-based system that allows people to provide a driver service using their own cars, and Airbnb, which allows people to rent out their homes or rooms to travelers.

Who benefits from the sharing economy?

For consumers, the sharing economy makes everyday life more affordable. Extensive and well-distributed participation on the supply side of sharing economy keeps prices fair, as well as eliminating the need for people to own all of their possessions.

What are the drivers of collaborative consumption?

They identified four drivers: a renewed belief in the importance of community. A “torrent of peer-to-peer social networks and real-time technologies.” A wave of unresolved environmental concerns. And a global recession that has “fundamentally shocked consumer behaviors.”

What is collaborative trade?

What Is a Collaborative Economy? Collaborative economies consist of giving, swapping, borrowing, trading, renting, and sharing products and services for a fee, between an individual who has something and an individual who needs something—generally with the help of a web-based middleman.

What are the benefits of sharing economy?

The sharing economy is accompanied by diverse expected benefits. Through the creation of new transactions, consumers can enjoy low prices, diverse options and better quality and convenience, and suppliers can earn additional income, all of which contribute to the welfare of the participants.

What are the benefits and drawbacks of the sharing economy?

Pros and cons of sharing economy

• Monetizing underutilized assets. You can share the usage of some items with others, increasing their utilization.
• Save money and resources.
• More flexible.
• More efficient allocation of resources.
• Get more reasonable prices.
• Reducing environmental impact.