Share Economy on the rise

According to a comprehensive survey conducted by the Nielson Company with 30.000 Internet users from 60 countries worldwide, consumers are increasingly willing to engage into a share economy. As such, more than two thirds of the respondents are likely to rent or borrow personal items like power tools, sports equipment, clothes, cars or houses to/from other members of the community.

This trend is especially recognizable in the Asia-Pacific region: While in Europe and the USA 54% vs. 52% are open to rent their possessions to others, already 78% of Asian-Pacific consumers are willing to do so. Particularly open are Chinese (94%), Indonesian (87%), Filipinos (85%) and Thai (84%).

“Share communities have given rise to an economic revolution that is having an impact,” highlighted John Burbank (President of Strategic Initiatives at Nielsen). “There is now an established comfort level that has opened the door for sharing personal property via the Internet that may have seemed unfathomable even a few short years ago. […] Online consumers in developing markets often represent a younger and more affluent demographic than the general population, which can contribute to greater eagerness and enthusiasm.”

Yet, sharing is not limited to the younger generation: 35% of all respondents aged 21-34 support the notion of a shared economy, while 17% of the generation aged 35-49 and even 7% consumers aged 50-64 do so.

“Share communities may add another link to the value chain […],” said Burbank. “Companies can leverage the learnings to transform their customers into valued partners and consider how sharing can become an integral part of their business process.”

Further information

Source: The Nielsen Company