Shared economy or collaborative consumption is not a break through. Your ride in Uber or Lyft or maybe your stay with Airbnb is an illustration of this peer to peer collaborative consumption. The thing that makes this idea interesting is the ability of the shared economy based companies to supply simplified yet delightful experiences to consumers. Such an easy services driven concept is enabled by technology and is silently making a profound effect on our society – leading a Social Change.

Obviously Social change is really a procedure for major changes over a duration of amount of time in pattern of behavior, cultural values and norms of society. These changes have long lasting effect on the society. So, let’s know the way these new age companies concentrating on old style of Shared economy are assisting to bring a Social Change:

1. Socially we have been moving from Ownership to Sharing: Should you closely look at these firms, they neither offer any technology for you to use nor they provide direct services. The delightful experiences are delivered by somebody that is sharing the products or services together with you. This can be helping individuals to move from full ownership to your sharing model thus opening to unknown set of people from around the world. This mode of sharing can’t be observed as selling because the provider of services is enabling you to be a part of something they completely own & probably use in their lives. The more people share more they grow & more they grow the more they share. This way we have been moving from I & you to definitely we & us leading to a harmonized happy world. This is the basis of the brand new direction along with a paradigm shift that is leading a whole new method of life – a Social Change.

2.We are trusting the unknown: Every time you take in services through the shared economy model you trust the unknown. Yes there are reviews about the services you are wanting to consume but you have to trust reviews from people that you don’t know and therefore it is actually trusting the unknown. Ess from one portion of the globe are trusting people from another part of the globe – that they can might have never visited. Imagine this – you may have planned a vacation trip in Chicago and are travelling through the comforts of your property in Colombo. You have booked an area through Airbnb and know nothing concerning your host in Chicago. The only source of information are among the great reviews concerning the host. You still go on, finish a great stick with the host and provide them 5 star reviews. This is actually happening and happening all around the world with a pace faster than your reading speed. Phenomenal. We being a Society are prepared to trust more & take more risks to be global citizens. Looking more optimistically, this style of mutual respect & trust is succeeding more than the conventional style of consumption. This ability to trust the unknown is challenging well established brands. It really is causing them to be innovate and win consumer’s trust according to improved services or value or else they clearly face extinction. We have been sharing more, our company is also caring more and we are actually trusting more being a Society.

3. We are embracing change: Once you choose services with the Shared Economy model you might be moving through the traditional set up to a completely new model of consumption. The previous models are definitely more mature and it’s easy to choose the existing and trusted method of doing things but the world is embracing this transformation. If the growth of brands like Uber or Airbnb is any indicator then it’s clear that world is moving almost in one direction and that is certainly to move from traditional system to an alternative age model. Whenever you look at leading surveys you will see that Airbnb is booking more rooms than Hilton or Uber operates in than 250 cities and it has better market valuation in comparison to many leading Airlines in the world. This is not a surprise at all. With proliferation of mobile connectivity & internet we will have this transformation being embraced by way of a larger population thus ensuring a deeper & more significant impact on the society.

4. We have been supporting Social entrepreneurship: Imagine this – a classic lady in UK features a 3 room apartment near city center and she doesn’t wish to place it on long term (1 year or maybe more) rent as her distant family visits her one or two times each year. At the same time she needs to monetize real estate investment. She likes to meet people and doesn’t wish to be lonely. With all the shared economy model she could do all this at the ease of few clicks. All of that she must do is to have the details uploaded on Airbnb or similar portals that she trusts. She can not only monetize the investments but will also have the opportunity to meet people from diverse backgrounds. No reason to go through the hassles of contracting with every tenant or hire staff to run the show, no running around authorities, no necessity of posting costly ads, no follow ups and no reason to engage real estate agents. In this particular new model she can run her very own business in simple yet very effective way. When the society starts supporting its constituents the progress is inevitable. The complete world- well almost- is arriving together to support you for making you successful. That’s social entrepreneurship.

5. So we are helping the Environment: This one is easy to understand but has the most crucial influence on our future. Once you go for car-sharing, bike-sharing or perhaps a ride-sharing you are actually helping to reduce carbon footprints, you might be saving fuel and everything related to it. Rather than buying new stuff we have been re-utilizing and monetizing existing assets by sweating them that is always a lot better than throwing and acquiring new. Shared economy model helps you to reuse stranded assets like cars, bikes to vacant rooms as well as toys which otherwise sits idle occupying space and are seldom used. Underutilized goods turn into waste quickly which model helps eliminate that. By doing this we have been helping ease pressure on environment by lowering the amount of old items that are discarded or thrown and in addition decreasing the ever increasing demands of the latest goods. Increase this reduced traffic congestion, savings as a result of lower consumption of energy hawiho resources and it will be possible to clearly see the benefits of this new model on our Society in general. We are helping ourselves and the future of the society in general.

As you could have observed it comes with an inevitable change we each one is going through- we have been sharing more, we have been accepting more, our company is embracing new, we have been becoming diverse and we are making tomorrow better. This is surely a big paradigm shift that will slowly result in a Social revolution with far more lasting impact than current technological advancements.

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