Shared economy or collaborative consumption is not a new concept. Your ride in Uber or Lyft or maybe your stick to Airbnb is an example of peer to peer collaborative consumption. Exactly what 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 building a profound impact on our society – leading a Social Change.

By definition Social change is actually a procedure of major changes over a period of period 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 helping bring a Social Change:

1. Socially our company is moving from Ownership to Sharing: If 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 someone who is sharing the products or services along with you. This really is helping individuals to move from full ownership to some sharing model thus opening to unknown list of people from across the globe. This mode of sharing can’t be seen as selling since the provider of services is enabling you to take part in something they completely own & probably use as part of their daily lives. The better people share more they grow & more they grow the more they share. This way we have been moving from I & one to we & us leading to a harmonized happy world. This is actually the foundation of the 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 and every time you take in services with the shared economy model you trust the unknown. Yes you can find reviews about the services you are wanting to consume but you need to trust reviews from people who you don’t know and hence it is trusting the unknown. Principes Communs from one portion of the globe are trusting people from another part of the globe – that they might have never visited. Imagine this – you have planned a holiday trip in Chicago and will also be travelling from your comforts of your home in Colombo. You may have booked a room through Airbnb and know nothing regarding your host in Chicago. The only supply of information are the great reviews about the host. You continue to go ahead, complete a great stick to the host and present them 5 star reviews. This really is happening and happening all across the globe in a pace faster than your reading speed. Phenomenal. We as being a Society are able to trust more & take more risks to become global citizens. Looking more optimistically, this model of mutual respect & trust is succeeding a lot more than the traditional type of consumption. This ability to trust the unknown is challenging well established brands. It is causing them to be innovate and win consumer’s trust based on improved services or value or else they clearly face extinction. We are sharing more, our company is also caring more and we are trusting more being a Society.

3. We have been embracing change: Once you go for services with the Shared Economy model you are moving from your traditional set up to a totally new type of consumption. The existing models tend to be more mature and it’s easy to select the previous and trusted way of doing things nevertheless the world is embracing this transformation. When the growth of companies like Uber or Airbnb is any indicator then it’s clear that world is moving almost in one direction and that is certainly to maneuver from traditional system to a different age model. Once you take a 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 simply not a surprise in any way. With proliferation of mobile connectivity & internet we will see this change being embraced by a larger population thus ensuring a deeper & more significant influence on the society.

4. Our company is supporting Social entrepreneurship: Imagine this – an older lady in UK features a 3 room apartment near city center and she doesn’t want to use it on long-term (1 year or more) rent as her distant family visits her one or two times annually. Concurrently she needs to monetize the real estate investment. She likes to meet people and doesn’t want to be lonely. With the shared economy model she will do all this at the simplicity of few clicks. All that she must do is to achieve the details uploaded on Airbnb or similar portals she trusts. She can not merely monetize the investments but will also have the chance to meet people from diverse backgrounds. No reason to glance at the hassles of contracting with every tenant or hire staff to perform the show, no running around authorities, no necessity of posting costly ads, no follow ups and no reason to engage real estate brokers. In this particular new model she could run her very own business in simple yet extremely effective way. If the society starts supporting its constituents the progress is inevitable. The complete world- well almost- is coming together to aid 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 crucial effect on our future. Once you choose car-sharing, bike-sharing or even a ride-sharing you might be actually helping to reduce carbon footprints, you might be saving fuel and everything linked to it. As opposed to buying new stuff our company is re-utilizing and monetizing existing assets by sweating them which is always better than throwing and purchasing new. Shared economy model really helps to reuse stranded assets like cars, bikes to vacant rooms along with toys which otherwise sits idle occupying space and they are seldom used. Underutilized goods become waste quickly which model helps eliminate that. In this way we are helping ease pressure on environment by lowering the quantity of old goods that are discarded or thrown and in addition reducing the ever increasing demands of brand new goods. Enhance this reduced traffic congestion, savings as a result of lower usage of energy hawiho resources and it is possible to clearly see the benefits of this new model on society in general. Our company is helping ourselves and the way forward for the society overall.

When you would have observed there is an inevitable change we are all dealing with- our company is sharing more, we are accepting more, we have been embracing new, we have been becoming diverse and our company is making tomorrow better. This is definitely a big paradigm shift that will slowly cause a Social revolution with a lot more lasting impact than current technological advancements.

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