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A sharing economy?

By Kal Di Paola on Mar 25 2013

A sharing economy?

In recent years, the digital revolution has been instrumental in creating whole new industries and jobs that didn’t exist a decade ago. Collaborative consumption is one of the mega trends that has resulted from the growth of online communities and increasing trust amongst strangers.

Collaborative consumption describes the rapid explosion in traditional sharing, lending, trading, renting and swapping. Rachel Botsman author of the What’s Mine is Yours- The Rise of Collaborative Consumption believes it will have a massive effect on the global economy and that we are still in the nascent stages of the disruption.

What's-Mine-Is-Yours

As a globally connected society we are challenging the idea of ownership. US Companies like Lyft, Zip Car and Airbnb are making headlines and we are witnessed a similar trend towards a collaborative economy in the UK.

The modern informed consumer is increasingly concerned with waste and the effects of over consumption. A hyper consumption society is giving way to a more conscious one and digital technology is allowing us to connect and consume like never before.

Today we have alternative choices to outright ownership. You can hire a designer dress at Wish-Want-Wear or Girl Meets Dress, hire a designer bag at handbagsfromheaven.co.uk rent a room in someone else’s home through One Fine Stay , park in a strangers drive/garage at Park At My House, store your excess in your neighbours unused space at sharemystorage.com, hitch hike the digital way with gocarshare.com, share a car with City Car Club, borrow your neighbours drill at neighborgoods.net and buy and sell your wardrobe at BuyMyWardrobe

TIME Magazine names Collaborative Consumption as one of the “10 Ideas That Will Change The World”

Do you agree? Will peer to peer selling, sharing, renting and swapping revolutionise the way we produce and consume? As the trend moves from tangible products to services will collaborative consumption become a disruptive economic force in most industries?

We’ll be discussing this topic during our Thursday @BuyMyWardrobe twitter chat 3-4pm. Join the conversation and share your views- #stylenetworkchat.