The new generation of consumers feels comfortable being “asset poor” but “experience rich.” This new way of thinking has given rise to the sharing economy. PricewaterhouseCoopers predicts the global revenues of the sharing economy could hit $335 billion in 2025, up from $15 billion in 2014.
The beauty of the sharing economy is that it allows sellers to get more value from their resources, and it allows buyers to enjoy products and services without commitment.
While this creates great opportunities for entrepreneurs, there are things that need to be in place for the growth trajectory of the sharing economy to continue to skyrocket. And it pays to learn from both the established and fledgling companies leading the charge.