The sharing economy continues to expand as more consumers choose “access over ownership,” according to a recent report from PricewaterhouseCoopers (PwC). As ownership loses its value—many view it as a burden and more expensive—this new business model presents consumers with cost-effective, convenient options that inspire a sense of trust and community.
PwC noted that the definition of the sharing economy is still broad and uncertain, and in its studied defined it as “an emergent ecosystem that monetizes underutilized assets or forgoes the purchase of those assets altogether, in favor of borrowing, renting or serving up microskills in exchange for access or money,” such as Airbnb, Uber, SnapGoods and Spotify. In all, 44% of US adult internet users polled in December 2014 were familiar with the sharing economy, and nearly one-fifth of respondents had actually used such a service. The most excited respondents fell into the 18-to-24 age range, had a household income between $50,000 and $75,000, and had children in the house younger than 18. Read the rest at eMarketer.