Trends Report

Millennials Drive The Sharing Economy

North American Consumer Technographics®

January 29th, 2018
JW
Jonathan Winkle
With contributors:
Reineke Reitsma , Gina Fleming , Xiaotong Duan , Chris Collins , Rachel Birrell

Summary

The sharing economy — peer-to-peer platforms that provide access to shared goods and services — is firmly established and poised to grow to an estimated $335 billion in the US by 2025. Millennials will drive this growth, so marketers who want to capitalize need to understand their motivations for using the sharing economy. Marketers at traditional companies competing with sharing services will also benefit from adapting their products, platforms, and customer experience strategies to suit the needs of different generations.

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