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BizReport : Ecommerce : July 15, 2016

Study: Sharing economy up 169%

Sharing is the new buying. That's the takeaway from new data which shows that since 2014 the sharing economy - consumers turning to peers to get goods and services - has increased by 169%.

by Kristina Knight

Connexity's Hitwise has released the Data Day 2016: A Look at the US Sharing Economy report, which looks specifically at the financial and space sharing spaces. In Q1 2016 more than 143 million Americans visited space sharing sites while 107 million checked into financial sharing sites.

"The sharing economy is growing at an exponential rate," says Nigel Wilson, Managing Director at Hitwise. "Thousands of sharing economy companies have sprouted up around the world, and consumers are actively engaging in collaborative consumption. According to PwC, 44% of all adults in the US are aware of the sharing economy and 19% have engaged in a sharing economy transaction. It is imperative for brands to consider how to support and participate in collaborative consumption, rather than compete against it."

Other key takeaways from the report include:

• Americans between 25 and 34 are most likely to visit space sharing sites
• Those 18 to 34 (Digital Natives) are the most active in the sharing economy
• Those over 35 (Digital Migrants) are primarily using home swapping and lending sites - like Kickstarter or IndieGoGo

Tags: Connexity, ecommerce, financial sharing sites, Hitwise, sharing economy, sharing sites

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