It could be argued that Americans have long believed “we are what we own” — the bigger, the better; the more, the merrier. Some folks shell out a lot of money to have three or four cars sitting in the driveway, or vacation homes on both coasts. Often times, the cars sit idle and the homes empty for a good portion of the time. However, a monumental economic shift is underway and changing the face of consumerism as we know it. We can now reap the benefits of consumption without the costs of ownership. In fact, those unused… Read More
It could be argued that Americans have long believed “we are what we own” — the bigger, the better; the more, the merrier. Some folks shell out a lot of money to have three or four cars sitting in the driveway, or vacation homes on both coasts. Often times, the cars sit idle and the homes empty for a good portion of the time. However, a monumental economic shift is underway and changing the face of consumerism as we know it. We can now reap the benefits of consumption without the costs of ownership. In fact, those unused or rarely used items just taking up space in your life can begin to fill up your wallet. This relatively new phenomenon is called consumer-to-consumer sharing. Owners rent out something they are not using — such as a car, a house, tools or a bicycle — using online peer-to-peer services. The go-between company typically has an eBay- or Yelp-style rating system so people on both sides of the transaction can trust each other. The concept has taken on a life of its own. Forbes estimates that revenue flowing through the “share economy” directly into people’s bank accounts will surpass $3.5… Read More