Rental and Sharing-economy - Where does it start and where does it end and how does it relate to the Financial sector?
A few years ago everyone was predicting the end of the consumption-economy and the rise of the sharing (and in extension rental) economy. Today, we see definitely a rise in sharing and renting platforms and products as a service, but not to the extend it has significantly changed the regular economy. When looking at the sharing and rental economy, you can identify a number of elements, which psychologically push people still to possess their own goods, i.e. Convenience : when you are sharing (or renting) an item, you need to reserve it and there is no guarantee it will be available. At the same time, you need to go fetch the product (or get it delivered) and most likely you cannot fetch it 24/7, but rather only during office hours. Hygiene : with the Covid-19 crisis still fresh in everyone’s mind, sharing products has a hygienical risk. But apart from the risk of diseases, there is also the feeling you have no idea who used it before. Fear for damage : people fear when they rent someth