The Sharing Economy User Base Continues to Grow, Thrive Analytics Study Finds

Sharing Services are quickly becoming the default service for many younger generations.

KETTERING, Ohio (PRWEB) July 02, 2019

Thrive Analytics, a digital marketing research and customer engagement strategy consulting firm, released a report entitled "The State of Sharing Economy Users", based on data from their Consumer Technology Monitor™, a syndicated study that monitors consumer technology adoption. The report reveals that the adoption of sharing economy services has expanded rapidly, rising by over 44% in the past two years from 68.6 million to 99.1 million in the U.S. That user base is projected to expand further in the coming years, reaching 121.1 million users by 2022. Currently, 30% of the population and 35% of internet users count themselves as consumers, use a service at least once during the calendar year, in the sharing economy.

"The most obvious examples of sharing economy companies are Uber, Etsy, and Airbnb. But there are hundreds of other companies," said Jason Peaslee, managing partner of Thrive Analytics. "As consumers try these services and have positive experiences, they are more willing to try other services."

In fact, 57% of U.S. adults have tried a sharing service — with the greatest number of users having used platforms in clothing/accessories/crafts (28%), ride-share services (27%), and accommodation services (13%). Other services include delivery & logistics (12%), dining (9%), financial and investing (8%), and health/beauty/wellness (7%).

Sharing Economy Users Tend to be Younger and More Affluent
The study found that the largest over-index for consumers in the sharing economy were consumers in the 25-34 age cohort — with increased prevalence extending between those aged 18-44. Meanwhile, as affluence increases, there is a direct correlation to use of sharing economy platforms. The least use was by consumers in households with less than $25k in annual income, and the most use was in in households with more than $100k in annual income.

"The ideal user for sharing economy services would seem to be someone who is younger and affluent — open to trying new technologies and ways of transacting" added Peaslee.

In addition, the platform's reputation and knowledge of the other person are critical factors when considering a sharing service. Sixty percent said they considered personal safety a key factor they thought about when choosing a sharing economy service. Users also cited the "reputation of the platform" and "knowing something about the other person" as highly important factors (at 38% and 28% respectively).

Other critical findings from The State of Sharing Economy Users include:

  • 46% stated saving money was an important factor in their consideration of a sharing economy service.
  • 60% of adults said they felt the sharing economy platforms were good for consumers.
  • 55% of adults said they thought that these kinds of services were good for the economy as a whole, and 55% also said that the services were good for businesses.

The Consumer Technology Monitor™
The Consumer Technology Monitor™ is a syndicated study that tracks the usage of technology, media, and other information sources used during the path to purchase of products or services. This research, updated at least twice a year, provides a comprehensive view of how consumers are using different forms of technology during the path to purchase.

The latest wave was fielded in January 2019. The online survey included 3,088 respondents in the US. For more information on the survey or methodology please contact us at: info(at)thriveanalytics(dot)com.

About Thrive Analytics
Thrive Analytics is a leading local search and digital consulting firm specializing in combining targeted marketing research and data analytics with actionable customer engagement strategies for improved business results. With clients spanning leading national brands as well as publishers and agencies serving the small business community, Thrive Analytics pairs proprietary market research services and data analytics tools with time-tested business insights and methodologies to help organizations measurably improve customer experience, loyalty and sales results. Founded in 2010, Thrive Analytics is a privately held company headquartered in Kettering, Ohio.

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