5 things you should know about sharing economy 

The sharing economy is being more and more popular and attracting new players wishing to participate. Whether customers or providers, the first seek goods and affordable services, cheaper and easier to find. The second most often look for a way to supplement their income in this period of crisis.With Airbnb, Uber, Blabacar and many others, the sharing economy is disrupting our habits by bringing digital into existing businesses.

Here are five things you should know about the sharing economy

Source : blog.octo.com

Source : blog.octo.com

1. The definition

The sharing economy  is according to the European Commission « all business models, primarily based on transactions between peers, whose activities are facilitated by collaborative platforms that create an open marketplace for temporary use of products or services. ». In other words, it’s the phenomenon by which consumers share in a form free or paid use of goods or services.

2.The popularity of the sharing economy

The sharing economy became a response to the declining buying power of people who were looking for a way to save money and/or to have additional income; especially since the global financial and economic crisis that began in 2007. With sharing economy people can buy or rent things for a low price and save money.

3. The emergence of the sharing economy

The popularisation of the sharing economy is due to the emergence and the democratization of new technologies, such as :

  • Marketplaces
  • Smartphones
  • Geo-tracking
  • Social media
  • Online notices

4. The market

The sharing economy has been developed in a plurality of sectors such as transport, accommodation, sales and purchase of goods and services , etc. In this market, France appears among the countries worldwide leader of this phenomenon, both in terms of business volume and diversity of supply. Indeed, there are French companies with international exposure such as BlaBlaCar or Ulule.

The collaborative economy sector is constantly expanding. Today nearly 9,000 startups make up the global market for collaborative economy. Furthermore, according to a study by PWC, the global market of this new economy already represented 15 billion in 2014 and could reach nearly $ 335 billion by 2025.Also in France, this market represents approximately 3.5 billion euros. According to the study Nomadéis / TNS Sofres conducted in November 2014: the French market for collaborative economy represent a dynamic market of 276 platforms.

5. The issues of the sharing economy

The sharing economy faces many concerns from the public authorities or existing players. Indeed, the economy leads to a new form of employment in the wage frontier and whose legislative framework is still unclear. It also leads to questions concerning competition law and tax law.

 

Leslie Charabie

Currently, student in Digital Economy Law, I’ve developed a great interest in ICT and e-marketing.
I am also interested and intrigued by the issues of intellectual property, personal data protection and cyberthreats.

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