The Sharing Economy – The Movement

two men participating in the sharing economy

“In what is called collaborative consumption, the sharing economy or the peer economy, owners rent out something they are not using, such as a car, house or bicycle to a stranger using these peer-to-peer services.”  – Forbes

What is a “sharing economy”? 

Trying to define exactly what the sharing economy would not do this social movement justice. The sharing economy is a concept that is constantly evolving with society. Put simply, it’s using technology to clear a path for the exchanged access of things, or services, between two or more people.

It comes from the notion that mutual groups can share value from a skill or asset. This value exchange is made possible through a shared marketplace, collaborative platform, or through peer-to-peer community exchanges.

two girls sharing technology
“The trust needed to make economic exchange possible came primarily from social ties of different kinds.” – Arun Sundararajan [The Sharing Economy]
solving global issues through sharing platforms

When this societal shift first emerged, it was thought to have the power to globally reverse employment issues. Doing this by enabling the world to share resources, and give each person the power to become their very own entrepreneur. Companies like Airbnb, Uber, and now rental marketplace Ruckify, empowers its users to create their own businesses and monitor their successes, all the while reducing their carbon footprint by sharing rather than buying. 

When buying goods, the most influential factors that go into that decision-making process are convenience, efficiency, and affordability. That being said, it should come as no surprise that shared-based purchases (or “renting” to put it simply) are beginning to dominate the economy. By 2025, PricewaterhouseCoopers (PwC) estimates the industry will churn the US $335 billion in revenue.

Community renting on sharing platforms

The rental industry provides a structure to have a two-way relationship between the owner and the renter, and is paving the way towards the future of “community renting”

Through rental marketplace Ruckify, the promise of convenience, efficiency, and affordability at the click of a button is a big win for community renters. Their platform revolutionizes renting to beyond just travel and spaces but includes the rental of just about any item or service that is desired by a potential renter. It offers a more efficient and cost-effective way to complete projects, travel, and do otherwise expensive activities. 

The world of consumerism has been forever changed by community renting, crowdsourcing, peer-to-peer communities, the sharing economy – or whatever you want to call it! Instead of getting estimates and waiting for returned phone calls, you make a few clicks on your computer. Online rating, review, and secure verification systems make things transparent. You know exactly what to expect from the seller (or renter) you choose. Watch as monopolies crumble while tech startups all over the world empower communities, and offer the most valuable commodity of all – connection.

“As people’s access to the internet grows we’re seeing the sharing economy boom – I think our obsession with ownership is at a tipping point and the sharing economy is part of the antidote for that.” – Richard Branson

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