What’s Trending Right Now in the Sharing Economy
Did you know six guests check into an Airbnb listing every second? In the 15 years since its founding, the online platform that’s become virtually synonymous with travel and hospitality has grown to serve more than 150 million worldwide users and has booked over 1 billion stays! What’s more, the platform is widely considered the starting point for a sector of goods, services, and marketplaces known as the sharing economy, wherein individuals offer up their own personal assets to people who want to use them temporarily. In doing so, consumers have more access and flexibility to use what they need without the risk and responsibility of ownership. At the same time, owners have unique opportunities to earn additional income from under-utilized assets. The concept has spread to all kinds of niches, notes leadership professor and Forbes contributor Ben Laker in a recent article, transforming traditional economic models and creating a new wave of opportunities to participate in the gig economy and enjoy otherwise out-of-reach experiences.
“While the sharing economy has only grown in popularity over the past few years, it’s more than just a catchy catchphrase; this concept has revolutionized our lives in many ways,” he notes, echoing the notion that collaborative consumption puts a unique premium on access. “It’s an ecosystem where ideas, not people, become the source of value, emphasizing access over ownership: use what you need when needed and then move on to the next task.” But beyond vacation homes and travel accommodations, what, exactly, are people sharing these days? Here are some emerging sharing economy trends to put on your radar.
Recreation Spaces
RecDay applies the sharing economy concept to sports, hobbies, gaming, and other activities. The online platform and community makes it easy for people who own private recreation spaces (think: everything from golf simulators and gaming rooms to home pickleball courts and yoga studios) to rent them out. It’s a huge win-win: Owners–even those who utilize their recreation spaces daily–still likely have vacancy more often than not (that is, ten-plus useable hours per day). And, of course, an hourly rate is not a bad return. It’s great for players, too, who enjoy private access to these spaces and their equipment and technology for lessons, practice sessions, leagues, weekly campaigns–or just a little down time.
Pickleball is the fastest growing sport in the U.S.
Bikes, Cars & Other Vehicles
If you find yourself needing to borrow some transportation, there are a number of peer-to-peer options. Spinlister is a sharing marketplace for bicycles (and also specialty equipment like surf boards, skis, and snowboards). Need a car, but don’t live close to a commercial rental outfit or simply don’t want to deal with the hassle? Turo has you covered. Some owners even drop off and pick up the vehicle when renters are finished. And for those looking for an RV, there’s something for that too. RVShare has everything from pop-up campers to full-blown fifth wheels for rent from owners all over the country.
Tent Camping & Glamping
When you need a place to park an RV, sites like Tentrr and Hipcamp can help. Landowners list access to private campsites, glampsites, RV spaces, yurts, and cabins for outdoor enthusiasts looking for a private, unique, and convenient experience. Like the other sharing marketplaces, these sites also display real-time availability, making it easy for folks to find a unique spot to set up camp without having to gamble on openings at public campgrounds that can fill up. This is especially great for holiday weekends, when commercial sites can be full and definitely don’t offer a private and serene space.
Private camp sites give outdoors enthusiasts with access to privacy as well as unique experiences.
Storage & Parking
Platforms like Neighbor and a few others apply the sharing economy model to personal storage. Instead of investing in a storage unit, renters opt for a cheaper, safer, closer alternative in their actual neighbors, who can list their available storage space on the platform. The result is that spaces like outbuildings, garages, basements, and other vacant locations people already own and aren’t using can be quickly and easily turned into cash.
Why Collaborative Consumption?
It’s no surprise these marketplaces are taking off, and Forbes predicts that trend will continue. After all, there’s a lot to love about collaborative consumption for both hosts and guests. For asset owners, it’s a way to earn some (mostly) passive income with minimal time investment and risk–especially as so many collaborative consumption platforms have paved the way for service providers to build secure, trusting online communities. As Forbes reports, the lure is strong for guests, too, who may not have the space, means, or desire to own an asset they perhaps only use on occasion or don’t want to worry about maintaining. But not all the benefits are economic. In addition to the income and value, hosts and guesrs enjoy an opportunity to network with like-minded people who enjoy the things they love.
Get Started
The bottom line is this: If you have an asset that not everyone can or wants to build and own–but would love to use at least once in a while–joining the sharing economy is worth considering. If it’s a recreation space, RecDay is here to help. We’ll walk you through the process, answer any questions you have, and get your listing up and running in no time. Get in touch with the RecDay customer success team or follow the link below to create an online listing for your space now.
