The sharing economy [infographic]
How much can you earn?
The sharing economy is a socio-economic system built around the sharing of human and physical assets. This growing segment of the business landscape often uses maturing digital channels to create greater reach, more efficient exchanges, or to improve overall value to participants. Some companies in this space have experienced healthy growth rates as consumers show an increased appetite for products and services that are shared and traded.
The sharing economy is generally divided into two groups: crowdsourcing, which harnesses the power of the crowd to obtain services, ideas, or contributions and collaborative consumption, which allows the exchange or use of a product or service without full ownership.
Established companies and new entrants alike are able to take advantage of this emerging demand by knowing "who" their crowd is, "what" their crowd wants, and "how" their crowd can help improve the current state of business. Embracing the sharing economy can increase workforce productivity, corporate acceptance, and customer authenticity, while ignoring it may eventually turn those very same customers into competitors.