Core Elements Affecting Sharing: Evidence from the United States

Abstract

The new phenomenon called sharing or collaborative consumption emerged a decade ago and is continuously growing. It creates new possibilities for society, and especially for business, is beneficial for the environment, makes more efficient use of resources, and presents a new competitive business model. The scientific literature lacks a more in-depth analysis of the factors influencing sharing activity growth; therefore, the paper’s authors attempt to fill this gap. The authors aim to identify the factors affecting the use of sharing platforms. To reach the goal, the authors developed a regression model and constructed a list of 71 variables. The study used monthly United States data from January 2017 to June 2020 from the publicly available Federal Reserve Economic Data (FRED)and Google trends databases. The comparison to other indexes proves that the proposed index, representing the number of visits to sharing platforms (SEP), is a unique one. The first index allowed us to revise the sharing activity monthly. The authors identified that variables such as wage level, social network users, import level, and personal consumption are critical in affecting the number of visits to sharing platforms. The presented framework could be helpful for practitioners and policymakers analysing the stimulation of sharing or collaborative consumption. It includes indicators representing different areas, such as society, technology, and country, and allows for monthly investigations. Such activity was evident for a long time when online platforms contributed to its wider accessibility. The results help to forecast the number of visits monthly. Sharing is still an emerging area for research; thus, the authors tried to explore the phenomenon of sharing to expand the conceptual level of knowledge.