Sharing Economy has mainly progressed due to the systemic advent of the Internet thus enabling production, distribution and mutual collaboration in a relatively easier manner than before. Humans being social animals, one can argue that sharing and distribution are in our DNA, which explains why SE has taken off the way it has. In fact, it can be considered as a progressed form of the barter system. From the sharing of cars and bicycles to the renting out of rooms, SE has completely pervaded our society and has become a mainstream act.
The main reasons why sharing has burgeoned so much are due to societal, economic and technological drivers which are contributing to transforming the sharing landscape.
SE has a bevvy of benefits which have led to its popularity such as it helps save money as well as the environment, provides wide flexibility, provides peer-to-peer financing opportunities, and it helps inculcate a sense of belonging to a rising community.
SE is here to stay in India because the purchasing power is much lesser here which makes sharing a more viable option, we have a large number of millennials who are helping drive the economy forward, and due to our high population density which makes services and goods more easily available than in other countries.
Research indicates that the used-goods market is set to boom exponentially in the coming years and hence it is safe to say that Sharing Economy is definitely here to stay.
Click here to read the full report on the rise of Sharing and why it’ll work in India, elaborated by GrabOnRent team via an extensive research and execution.
Do let us know your experiences and thoughts around the rise of sharing economy and we’d be happy to engage.