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THE SHARING ECONOMY'S SUCCESS: ADVANTAGES, DRAWBACKS, AND APPLICATIONS

Published online by Cambridge University Press:  19 June 2023

Vedran Simic  and
André Liem
Vedran Simic*
Affiliation:
Department of Design NTNU, Norwegian University of Science and Technology
André Liem
Affiliation:
Department of Design NTNU, Norwegian University of Science and Technology
*
Simic, Vedran, NTNU, Norwegian University of Science and Technology, Croatia, vedran@simic.no

Abstract

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The emergence of intermediary platforms created networks that facilitate peer-to-peer interactions, as well as encourage the sharing of goods and services within the context of collaborative consumption and cost saving. This article sets out to inspect “why the sharing economy is so successful” and provide a critical viewpoint on the topic's essential ideas, while also taking a perspective on the advantages and disadvantages that affect the end users. A literature review paired with case studies of Airbnb, Uber, and other applications of the shared economy, looks upon how despite their rapid market growth in the past decade and public approval, such platforms caused disruptions to the markets they operate in. Results indicate that by being involved as a part of the collaborative consumption ecosystem, either as a provider or a user, the absence of personal ownership is key, while the utilisation of the product needs to be maximised to result in a pleasant experience. However, it is critical that the development of these platforms which thrive on connecting people stays closely monitored by regulatory bodies, and that the legislation needed for prevention of unethical practices follows quickly enough to ensure rightful operation.

Keywords

Business models and considerationsSocietal consequencesMarket implicationsCase studySharing economy
Type
Article
Information
Proceedings of the Design Society , Volume 3: ICED23 , July 2023 , pp. 3493 - 3502
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.
Copyright
The Author(s), 2023. Published by Cambridge University Press

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