Conclusion The Sharing Economy Perspectives, opportunities and challenges

Abstract

The sharing economy, which can be defined as an economic system in which assets and services are shared between people, has intensified the ability for human interaction as well as peer-to-peer (P2P) commercial exchange (Altinay & Taheri, 2019, p.180). Since the inception of the World Wide Web in 1992, the internet has revolutionised marketplaces. A range of unprecedented implications emerged for users, propelling the dramatic evolution of the marketplace. A range of electronic, mobile, and social business models emerged to support a range of diverse marketplaces. The development of new business models facilitated the sharing of underutilized assets. The ‘Sharing Economy’ effectively was developed to support sharing of products and services that often stayed idle for long periods of time. Sharing economy service ecosystems emerged to facilitate sharing of resources and help actors exchange resources, interact, and create value and meaning. The sharing economy is a fast-growing and heavily debated phenomenon in management and marketing literature. It had a massive impact on consumer behaviours and has grown in both scale and scope over the past years via different platforms. Examples include Airbnb for apartments, Blablacar for cars and Peerby for tools. Apart from positive economic consequences, the sharing economy can have positive environmental and social effects. It gives people the opportunity to reuse goods and services, improving sustainability. Sharing can bring people together and stimulate social cohesion in neighbourhoods.