Facts on sharing economy:
Statistics Canada’s recent release describes a new sector of the Canadian economy that’s growing fast: 2.7 million Canadian adults “participated in the sharing economy” between November 2015 and October 2016, spending $1.31 billion in the process. As of December 2015, funding for projects that are part of the Collaborative Economy industry is already almost five times what the most successful social networks. According to the PwC study, the size of the industry is currently at around $17 billion, and expect it to grow to $335 billion by 2025. These are just a few facts about sharing economy and its potential to grow into an alternate economy.
Sharing Is The New Buying:
To grasp the scale of disruption posed by the sharing economy, consider that five-year-old Uber. It operates in more than 250 cities worldwide and its market capitalization exceeds more than the companies such as Delta Air Lines, American Airlines and United Continental. Sharing economy has created a new form of human consumption, one that is environmentally responsible, socially inclusive and economically sustainable. Popular services such as Uber, Airbnb has shown us a way to improve resource utilization over a unique social experience that clearly has a much broader appeal economically.
Marketplaces have inherent benefits that are unlike those of most other types of businesses:
- They involve low capital costs, as inventory is brought to the market by the suppliers.
- The market can self-correct by offering more of the good or service as buyers demand it more, making each marketplace function like a mini-economy.
Is your IDEA worth solving?
All or most of the Peer-to-Peer marketplace platforms are created out of personal needs. After seeing how Airbnb and Uber can turn any house into a hotel and any car into a cab, many entrepreneurs are discovering the next peer-to-peer market—one they can leverage to enable their community to monetize not just their possessions, but also their resources, talents, and passions. It’s an interesting mindset of millennials and new consumers, of not necessarily needing to own their own thing—everyone on the block doesn’t’ have to have their own snow blower or lawn mower, so why don’t we pool together and share it and reduce over-consumption in the world? There’s a really different mentality there—less consumerism, less materialism and more of a community building approach. So, put on your collaborative glasses and look at the world around you.
- Did you find excess capacity, underutilized resources, and assets that are not being used in an efficient way?
- Are you a property manager? How about a marketplace for renting out unused space?
- Are you a teacher? A marketplace for selling your teaching material?
- Do you coach junior hockey? A marketplace for selling used skates and other equipment?
- Do you like gardening? A marketplace for sharing plants and seeds?
The opportunities are everywhere, articulating your true passion for your marketplace idea is important because your success will depend on them. Did you find your passionate idea? Let us help you – At IdyaFlow, we take care of your every expectation.