The market place is seeing the evolution of a new category – the S hared Economy . Trend setters, such as Uber, Air B&B, and other companies, are changing the relationship in the buyer/seller market. The Shared Economy structure allows people to share resources such as equipment, services, and skills. The major benefits are greater access and the reduction of costs, versus traditional retail or employment arrangements. The growing segment is projected to reach $335 Billion by 2025.
The Shared Economy Business Approach Pervades Many Industries Like:
The Sharing Community
The driving factors for the success of the Shared Economy business approach are that they are free, fast, and efficient for the sellers and buyers. More specifically, the Shared Economy generally provides:
Related: Why Going Against the Grain Could Save Your Business
The Future of The Sharing Economy
The new business model of the Shared Economy provides key tangible benefits which will become even more pronounced with its growth. This also builds a closer relationship in communities bringing people together on a personal level.
Is Your Business Shared Economy Friendly?
As the old saying goes, the only certainty is change itself. Knowing all the benefits and the wide range of areas this new business model can be applied to – examine how can your business join this new growing trend. Consider how can your business benefit as both a buyer and seller of products and services.