Why buy new when one can share? Exploring collaborative consumption motivations for consumer goods

Abstract

AbstractThe notion of collaborative consumption or sharing economy—where consumers share access to ownership of properties such as cars, clothes and accommodations—has gained tremendous popularity in recent years. Development of communication technologies and peer‐to‐peer communities has enabled consumers to coordinate sharing activities through various online platforms. Collaborative consumption involves sharing of both intangible (e.g., music, space and car rides) and tangible assets (e.g., household items, clothes and furniture). Activities such as renting, swapping, trading and purchasing/selling used consumer goods are included in the latter. Despite increasing academic attention on collaborative consumption, little research has been pursued in the context of consumer goods. The nature of consumption for tangible goods can be entirely different from that of intangible goods because people can exercise greater control over tangible goods, which results in greater psychological ownership than that for intangible goods. To address this gap, the objective of this study is to develop a scale that examines consumer motivations for collaborative consumption of consumer goods. Following Churchill's paradigm of scale development, the procedures of scale item generation, purification and validation were conducted via in‐depth interviews, literature review and surveys. The study identified five underlying dimensions of collaborative consumption of consumer goods: concern‐for‐sustainability, social, variety‐seeking, fun and cost‐saving. Study findings and implications are discussed, and future research avenues are suggested.