PWC: The rise of the sharing economy

Renting and borrowing will replace ownership in many industries. At Extend Limits we see the shift from ownership to access as a fundamental shift in western societies. Now the large consultancy firm PriveWaterhouseCoopers did a full survey on the sharing economy and found that the new economic form has the future.

It’s an undeniable trend, [one] that’s going to continue,” (Matt Hobbs, PwC partner)

For the survey more than a thousand consumers were interviewed. Already 44 percent had heard of the term sharing economy. Those of them who haven’t heard about is were positive about the idea. They even felt overwhelmed about it. Here are some of the finding about the sharing economy from PwC,

 
• 43 percent of consumers expressed that owning today feels like a burden
 
• 72 percent say they could see themselves becoming a sharing economy consumer
 
• 83 percent agree it makes life more convenient and efficient
 
• 78 percent said that within the next 30 years they’re going to be working multiple jobs
 
• 59 percent said they will not trust sharing economy businesses until they are properly regulated
 
• 69 percent will not trust sharing economy companies until they are recommended by someone they trust.

Most of the interviewed consumers thought that sharing-economy services would be more affordable. The sharing economy also could make their lives more convenient and easy. Not to forget it will also hurt the environment less than our traditional ownership. The most critical hurdle is trust. And without the re-establishment of trust there will be no sharing economy.

The sharing economy is one of the biggest and most fundamental resets in our society of the 21ste century. It will affect every business model in every sector.