Why The “Sharing Economy” Has A Branding Challenge
World changing pundits struggle with naming a concept that creates economic growth, increases access to goods and services, yet reduces consumption.
By now you’ve likely heard hype about the so-called “sharing economy.” But does that name really capture what it’s really about?
To explain it with somewhat wonky language, the Sharing Economy is an economic model based on providing access to goods and services rather than their outright ownership – often through peer-to-peer networks. Put more philosophically, it’s an attempt to decouple consumption from economic growth. Put more practically, it’s a hot new business model exciting consumers looking for convenience, savings, and connection to community. It’s huge and it’s important, but it can be hard to explain to a mainstream market.
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