RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce : June 17, 2014

UK lags behind in peer-to-peer rental phenomenon

Consumers in the UK are not as willing to participate in the 'sharing economy' as those in other countries, according to new data released by Nielsen, but the peer-to-peer rental phenomenon is definitely moving up a gear.

by Helen Leggatt

In its recent Global Survey of Share Communities, Nielsen found that British consumers are not embracing the peer-to-peer rental phenomenon quite as much as their counterparts in other countries. The global survey was taken among 30,000 online respondents globally.

While just over a third (37%) of online British consumers are taking part in the 'sharing economy' that figure is far less than in Europe as a whole (54%) or the 68% embracing it globally.

The peer-to-peer rental phenomenon has recently gained much attention through short-term property rental site Airbnb. However, other personal assets are being rented for cash such as cars (EasyCar Club), clothing (Girl Meets Dress), power tools and even private tuition.

Shared communities_report.png

According to Chris Morley, Nielsen group managing director for UK & Ireland, peer-to-peer rentals are part of the bigger 'pay-as-you' go mindset.

"Consumers are becoming savvier about saving money at a time when the internet has facilitated greater opportunities to rent products. The take-up of music- and film-streaming services such as Spotify and Netflix is testament to this," says Morley. "The sharing economy is the evolution of this 'pay-as-you-go' mind-set: why buy something I may only use a handful of times, when renting allows me to save money and storage space."

Image via Shutterstock

Tags: online, peer-to-peer, sharing, trends

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.