Shared consumption is proposed as a comparably sustainable consumption practice. However, little is known about effects of shared consumption on individuals. We build on the theory of planned behavior and the value-belief-norm theory using cross-lagged structural equation modeling based on a two-wave panel study with 168 consumers to examine the effects a shared consumption pattern has on consumers' values, attitudes, and norms. Our structural model explains a medium to large amount of variance in self-reported shared consumption. We find shared consumption has statistically significant positive cross-lagged effects on future altruistic values, attitudes, subjective norms, and personal norms. However, no statistically significant effects of shared consumption are found on consumers' future biospheric and egoistic values. Thus, the more consumers engaged in shared consumption, the more concerned they were for others, while it did not affect their concern for the environment or themselves. Theoretical and practical implications of our results are discussed.