Research on the Current Situation of the Sharing Economy

Abstract

With the development of science and technology and the popularity of online payment, increasing categories of shareable products entered the market, and the sharing economy has become a trend in peoples lives. Citibikes, Airbnb are just the beginning of the expanding sharing economy market. This paper analyzes several typical cases of businesses and products in the B to C section of the sharing economy in the world. For methodology, this essay applies qualitative research, case analysis, and comparative analysis. This paper sums up the experiences of success and failure that can contribute to the development of the sharing economy and provides theoretical suggestions to solve problems and promote future transformation, development, and breakthrough. This paper concludes that abundant consumer needs indicate a large potential for new businesses in the sharing economy. Issues like internal management chaos, a lack of regulation, a lack of a clear plan, and neglect of product quality and customer needs may lead to failure. Companies should use technology to collect data from consumers to have a better understanding of the environment and population in their potential market. Whats more, it is important for established companies to improve their products to meet customers expectations.