Pandemic Devastates Home Sharing Sector
The unchecked plague has exploded many sectors since it landed on our shores during a deceptive presidency. The Trump administrations victims are many:
Bricks and mortar retail has been devastated as stores shuttered in order to give the government time to get a handle on COVID-19 and install a strategy for managing the crisis (Trump did nothing, if you hadn’t noticed).
A third of Gen V and a quarter of Millennials are not willing to shop in-store.
People are so fearful of restaurants and bars that the list of defunct former hotspots continues to pile up.
Business conferences and trade shows have shut down in-person events.
The airline industry is reeling.
People are protecting themselves and their families by forming pandemic social bubbles of people they trust to conduct themselves responsibly during The Plague.
So it come as scant surprise that people are no longer so keen on spending time in a stranger’s home.
Although Airbnb remains the dominant platform among home-sharing website users, increased competition is causing its share to decrease.
It will capture 72.9% of home-sharing website users in 2020.
By 2022, its share will drop to just under 70%, while still retaining its market dominance.
This year, Airbnb’s US adult user base will fall 60.0% to 17.0 million. This is the first time that the company has experienced negative user growth.
Despite the steep decrease, eMarketer expects the number of Airbnb users to nearly recover to pre-pandemic levels by 2021. Their estimate assumes that the US will begin recovering in H2 2020 and see improved treatments and a widely available vaccine next year. Read the rest at eMarketer.
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