The sharing economy or collaborative consumption first showed up on the mainstream radar in 2012. The speed at which Sharing Economy is gaining traction in our lives is simply mind blowing. No one even knows the extent to which it will disrupt our lives and the way we interact with each other. Last week I was invited to do a TEDx talk at Mohawk College to discuss how Sharing economy is our future. In addition to what the talk covered, here are three deeper insights on how it’s making a difference.
Collaborative consumption has been so overwhelmingly popular due to its convenience, and how it promotes sustainability from the onset. A new culture has shifted towards accessibility and function as opposed to ownership. We are moving away from a model of multiple owners having the same commodity.
Moreover, paperless transactions reduce deforestation, ride shares cut carbon emissions. There is less stigma in using something that isn’t brand new, as second-hand clothing sharing rises, especially in wedding dresses. In fact, according to a research, in favourable conditions, 7% of a household budget can be saved and 20% of household waste reduced through collaborative consumption.
Economic Boosts to Developing Countries
The sharing economy can provide a great economic boost to countries that have access to technology but are lagging in economic activity. An astonishing example is from the most recent FIFA World Cup 2014 held in Brazil, where roughly 1 out of 5 tourists (about 120,000 guests) booked a place to stay through Airbnb, which made them the largest hospitality company in the region.
Moreover, making money through collaborative consumption does not require regulatory bodies, governance, or a high-level of education either. This means anyone can participate in the shared economy, from anywhere at anytime.
Resilient To Recessions, Combats Unemployment
Collaborative consumption is generally recession-proof, and can potentially facilitate numerous industries. With so many houses foreclosed on in the modern day, renting out a room can contribute to a mortgage payment. Not only this, but lower prices through ridesharing companies likes Uber and service sharing companies like AskforTask can eliminate the existence of a hefty middleman entirely, i.e the corporations.
After surviving the catastrophes caused by the 2008 economic conditions, people are relying more and more on reliable and efficient ways of interacting and consuming. Collaborative consumption can provide that temporary income relief for those between jobs, or looking to make money around their schedule.
AskforTask is an active contributor to the sharing economy, facilitating an online marketplace for handymen, cleaners and independent contractors to look for jobs within their local communities. Use BLOG10 to get $10 off your first task with AskforTask and check it out for yourself. Make a new connection, discover a new opportunity, have control over your schedule!
Muneeb Mushtaq is a serial entrepreneur with the passion to innovate and create exciting ventures. He pioneered in the technology industry by starting and exiting a successful marketing company. Muneeb then co-founded an online platform, AskforTask.com, the largest online marketplace for daily errands. In one year of operations, AskforTask has saved members $20,000,000+ and is available in over 100 cities. Connect with him on directly on LinkedIn or follow him on twitter.