Sharing economy (also known as shareconomy or collaborative consumption or peer economy) is a hybrid market model which refers to peer-to-peer based sharing of access to goods and services. First, customer behaviour for many goods and services changes from ownership to sharing. Second, online social networks and electronic markets more easily link consumers. And third, mobile devices and electronic services make the use of shared goods and services more convenient (e.g. smartphone app instead of physical key).

Sharing economy has gained momentum and there is now no denying that it will be playing bigger and bigger role also in the travel industry. Below Gruppo La Meridiana presents to you key trends in the sharing economy.

Sharing economy: Cities

This year many more cities will launch their own sharing city initiative following the inspiration from existing sharing cities. Some cities will already launch a global sharing city council in 2016 to share their experiences. Several sharing city events will be organized during the year.

Logistics, Energy and Healthcare

Every year the collaborative economy continues to impact new markets. Last year saw a lot of activity in the field of logistics and surprising new startups in the energy sector. In the future we expect a similar development for the healthcare sector. Governments face huge challenges to keep their healthcare systems up and running due to the increasingly ageing population in western countries. The sharing economy is built on trust, and the platforms that move within it are becoming savvier in establishing trust between its users.

Convenience is key

Removing social friction for convenience seems to be the direction many organizations are taking in 2016 in order to reach more consumer segments. They will often do so by replacing the personal contact with automated services and we’ll see an increasing number of new intermediaries who will facilitate the exchange instead. Users need convenience and are therefore attracted to the collaborative economy.

Since its (re-)birth, the sharing economy has been rapidly expanding across different sectors. Existing companies and organizations have gotten a better understanding of what this entails and the opportunities that come along with it, don’t go by unnoticed. Future be marked by a big increase in partnerships between different organizations and this will allow some of the companies and organizations to dominate their market.

For more research on sharing economy and its impact on the travel industry please contact Gruppo La Meridiana. We are happy to share with you our insights.