Special report: Sharing economy 2015
The sharing economy, pioneered by companies like Airbnb and BlaBlaCar, is taking hold in Europe. This survey of almost 15,000 consumers across 15 countries reveals the profound effect that sharing technologies could have on economies worldwide, with participation predicted to rise in the next 12 months.
Executive summary
About a third of people in Europe have heard of the sharing economy – rising to a high of 52% in Turkey and survey lows of 17% in Australia and 19% in Austria. However, actual participation in the sharing economy is much lower, suggesting there is room to grow as more people become familiar with the concept and turn their knowledge into action. About a third of people in Europe think their participation in the sharing economy will increase in the next 12 months.
The sharing economy is known by several other names, including collaborative consumption and peer-to-peer business. In this survey, the sharing economy was described to participants as utilising goods (such as a car, house or lawnmower) that would otherwise be idle or unused. We highlighted that its growth has been driven through the rise of digital technology. In addition, for the purposes of the survey, only sharing economy activities that involve payment were considered.
Sharers are typically younger (aged under 35) and are well educated. They tend to be open to trying new payment technologies and are likely to say economic conditions have improved their personal finances in the last three months.
Airbnb has made headlines – positive and negative – around the world as a disruptive force to the traditional holiday accommodation model. It is just one of many room-sharing arrangements, which might explain why holiday accommodation is the possession owners in Europe are most likely to have shared in the last 12 months. In addition, almost half – or 49% – of holiday accommodation owners would consider sharing for money in the next 12 months. Clothes are the possession owners are least likely to consider sharing.
A car is the item borrowed most by people in Europe over the last 12 months – but looking to the future, holiday accommodation may well overtake it.
The sharing economy is still a small earner for most participants in Europe. The vast majority of people in Europe who shared something they own for money earned €1,000 or less in the last 12 months. The answers ranged from a single euro through to €50,000. The average – or mean – response was €2,500. However, a more realistic sense of earnings for the majority is given by the median – or mid-point – which is €300.
The chance to save money strongly influences participation in the sharing economy across Europe, the United States and Australia. Of four positive statements about the sharing economy, “it saves money” has the highest number of people saying it is an influential factor. The view that it is good for the environment is also influential, as is seeing it as “an easy way to make extra money”. Helping build communities holds less appeal in most countries, but ranks highly in Turkey, Poland and Italy.
Of three negative statements about the sharing economy, “I don’t like other people using my property” has the highest level of agreement in Europe. Insurance worries are also prevalent, particularly in Spain. Trust in the quality of shared items is a less widespread concern but rises to 50% in Austria, Poland, Turkey and the US.
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