Shared economy or collaborative consumption is not a break through. Your ride in Uber or Lyft or perhaps your stay with Airbnb is a good example of peer to peer collaborative consumption. The thing that makes this idea interesting is the ability of the shared economy based companies to provide simplified yet delightful experiences to consumers. This kind of easy services driven concept is enabled by technology and is silently building a profound influence on our society – leading a Social Change.

By definition Social change is actually a procedure for major changes during a period of time in pattern of behavior, cultural values and norms of society. These changes have long lasting influence on the society. So, let’s understand how these new age companies working on old model of Shared economy are assisting to bring a Social Change:

1. Socially we are moving from Ownership to Sharing: Should you closely examine these companies, they neither offer any technology to help you nor they offer direct services. The delightful experiences are delivered by somebody that is sharing the products or services together with you. This can be helping people to move from full ownership to a sharing model thus opening up to unknown list of people from across the globe. This mode of sharing can’t be seen as selling because the provider of services is enabling you to be a part of something they completely own & probably use as part of their daily lives. The more people share more they grow & more they grow the greater they share. This way we have been moving from I & you to we & us leading to a harmonized happy world. Here is the basis of the brand new direction and a paradigm shift that is leading a brand new way of life – a Social Change.

2.We are trusting the unknown: Each time you consume services with the shared economy model you trust the unknown. Yes you can find reviews regarding the services you are wanting to consume but you have to trust reviews from people who you don’t know and therefore it really is trusting the unknown. Économie Sociale Et Solidaire from one part of the globe are trusting people from another area of the globe – that they could have never visited. Imagine this – you might have planned a vacation trip in Chicago and are travelling from the comforts of your property in Colombo. You might have booked a room through Airbnb and know nothing concerning your host in Chicago. The only way to obtain information are among the great reviews concerning the host. You still go ahead, complete a great stick with the host and present them 5 star reviews. This is actually happening and happening all around the world at a pace faster than your reading speed. Phenomenal. We as a Society are able to trust more & take more risks to get global citizens. Looking more optimistically, this type of mutual respect & trust is succeeding a lot more than the standard style of consumption. This capacity to trust the unknown is challenging well known brands. It really is which makes them innovate and win consumer’s trust based on improved services or value or else they clearly face extinction. We have been sharing more, we have been also caring more and that we are trusting more as being a Society.

3. Our company is embracing change: When you go for services with the Shared Economy model you might be moving from the traditional established to a completely new type of consumption. The old models tend to be more mature and it’s easy to select the existing and trusted means of doing things however the world is embracing this modification. 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 to go from traditional system to an alternative age model. Whenever you take a look at leading surveys you will notice that Airbnb is booking more rooms than Hilton or Uber operates in additional than 250 cities and has better market valuation when compared to many leading Airlines on the planet. This is not a surprise at all. With proliferation of mobile connectivity & internet we will see this change being embraced with a larger population thus ensuring a deeper & more significant influence on the society.

4. We are supporting Social entrepreneurship: Imagine this – an old lady in UK includes a 3 room apartment near city center and she doesn’t desire to place it on long lasting (1 year or even more) rent as her distant family visits her one or two times each year. At the same time she would like to monetize real estate investment. She likes to meet people and doesn’t want to be lonely. Using the shared economy model she can do all of this at the ease of few clicks. Everything that she must do is to get the details uploaded on Airbnb or similar portals she trusts. She could not merely monetize the investments but may also have the ability to meet people from diverse backgrounds. No need to go through the hassles of contracting with every tenant or hire staff to perform the show, no walking around authorities, no need of posting costly ads, no follow ups and no need to engage real estate brokers. In this particular new model she will run her own business in simple yet extremely effective way. Once the society starts supporting its constituents the progress is inevitable. The complete world- well almost- is arriving together to back up you for making you successful. That’s social entrepreneurship.

5. So we are improving the Environment: This one is clear and understandable but has the most significant influence on our future. Once you opt for car-sharing, bike-sharing or even a ride-sharing you might be actually assisting 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 which can be always much better than throwing and purchasing 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 therefore are seldom used. Underutilized goods become waste quickly and also this model helps eliminate that. In this way we have been helping ease pressure on environment by lowering the volume of old products which are discarded or thrown and in addition decreasing the rising demands of brand new goods. Add to this reduced traffic congestion, savings due to lower consumption of energy hawiho resources and it will be possible to clearly see the benefits of this new model on our Society overall. We are helping ourselves and the way forward for the society as a whole.

While you might have observed there is an inevitable change that we are all experiencing- our company is sharing more, we have been accepting more, we have been embracing new, we are becoming diverse and our company is making tomorrow better. This is surely a big paradigm shift that can slowly lead to a Social revolution with a lot more lasting impact than current technological advancements.

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