Share and share alike – the sharing revolution

News & Insights

MoneyPlus Features Team

11th June 2015 at 3:45pm

The sharing revolution

There’s a new phrase just hit the Oxford dictionary this year and it’s ‘sharing economy’.

Termed ‘an economic system in which assets or services are shared between private individuals, either for free or for a fee, typically by means of the Internet’, it’s essentially a trend that matches those who need something with those that can provide it – and it’s a boom business, a sharing revolution.

Sharing success

With the marketplace expected to reach £230billion a year in a decade, it’s no great surprise this phenomena now warrants its name in lights. And this week marked the start of Global Sharing Week, inspired off the success of Global Sharing Day, a campaign that helped 100 million people globally discover the sharing economy.

The sharing economy presents a radical departure from traditional business models. It’s an exciting social movement whose aim is to make the sharing economy mainstream, where the need to own is transformed. Everyone is a supplier of goods, services and experiences. Where people share skills, time, resources, knowledge, responsibility, opportunities, ideas, goods, services and stuff.

The sharing revolution will be digitised

Many of us will now have heard of sites such as Airbnb, Wimdu and Roomarama as they’ve quickly become mainstream for travellers – offering a popular alternative to hotels through allowing people to offer their spare rooms or property up for rent via the gift of the internet. And apps such as Uber and Hailo have revolutionised the way we use taxis too. But it doesn’t stop at travel, the world has become a sharers oyster.

Your time is money

Growing numbers of us are now willing to offer up our services from the mundane to the highly specialised on the trust that another will give us a service we require in exchange. Suddenly your time has become your currency, cutting out the need for any costly middleman, and the internet your route to market.

Waste not want not

Social and business landscapes are changing and a sharing utopia seems to be drifting ever closer as a result.

The sharing economy would appear to be about creating a new lifestyle, a new way to live. It’s a move away from hyper-consumption. And there’s now a big culture shift especially with the Millennial generation (25 – 34 year olds) – or ‘Generation Share’ as they’ve been described, who’d choose to access rather than own. To them the idea that you’d pay for a car to sit unused for 23 hours a day is absurd. Why pay for what you don’t need?

Find out more

With millions of people across the world discovering the value of sharing in their lives it’s no surprise that organisations like ‘The People Who Share’ have sprung up to help facilitate this desire.

They are committed to reshaping the world through sharing, harnessing the power of reciprocity to create happier, healthier and more sustainable lifestyles – and the Global Sharing Week initiative is a direct result of this.

If you’d like to find out more about the sharing economy and Global Sharing Week then it’s worth checking out ‘The People Who Share’ website where you’ll also find the Global Sharing Directory with over 7,500 sharing sites from around the world.

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