The sharing economy is shared creation, production, distribution, trade and consumption of goods and services by different people and business groups, are all parts of collaborative economy.
This type of economy usually leverages technology for individuals, nonprofits, corporations and government with information that aids distribution, sharing and reuse of excess services and goods.
In these times of uncertainty and polarization, alternate solutions such as a shared economy could be a way to cut through the challenges faced by businesses, their consumers and their mindsets.
Seven years ago, according to Forbes, revenue flowing through a collaborative-type economy into people’s bank accounts would surpass $3.5 billion, with growth exceeding 25 percent. “At that rate, peer-to-peer sharing is moving from an income boost in a stagnant wage market into a disruptive economic force,” Forbes reported.
Looks like that trend continues since this type of economy is estimated to grow from $14 billion in 2014 to $335 billion by 2025, according to the Brookings Institution.
Borrowing, sharing, lending, trading and swapping items between consumers are also components of this type of economy. Swapping, renting or sharing usually requires a fee. Usually, a web-based “middleman” or facilitator is used in a collaborative economy. Some firms that act as middlemen include Craigslist, Uber, Esty and eBay.
For example, grocer Whole Foods collaborates with Instacart, a grocery delivery service provided by independent contractors who work on their own schedules.
Companies such as these facilitate exchange, distribution or sharing of goods between consumers. They also can lower costs significantly.
Together we are finding new ways to create a means that are meaningful. In so doing, a shared economy has created an adaptable lifestyle where people are converging that lends to overall solutions toward prosperity for the future.
People generally feel more confident and happier when they are part of something bigger than themselves according to Positive Psychology. By setting happiness as a national goal encourages trends such as lowering the environmental impact based upon consumerism, the need to save natural resources toward a sustainable model and sophisticated information technology creating new product and service markets.
Professional Happyologist and Harvard Trained Success Coach, Jackie Ruka, empowers CEO's, Women in Business and Global Organizations to thrive in their purpose and create happier work and personal lives go from breakdowns to breakthroughs. Jackie has moved brands and teams forward from $100M to $2B. To reach positivity, purpose and profits, contact Jackie for a free consultation. Or email Jackie to speak at your next event: jackie@jackieruka.com