Share Economy 2017 The New Business Model

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Share Economy 2017 The New Business Model
www.pwc.de/share-economy

                              Share Economy 2017
                              The New Business Model

This report analyzes the
size and the acceptance of
the Share Economy in the
six European countries
Austria, Belgium,
Germany, the Netherlands,
Switzerland and Turkey.
It explores current status,
growth, success factors for
further breakthrough and
mass acceptance.
Share Economy 2017 The New Business Model
Share Economy 2017
                              The New Business Model

This report analyzes the
size and the acceptance of
the Share Economy in the
six European countries
Austria, Belgium,
Germany, the Netherlands,
Switzerland and Turkey.
It explores current status,
growth, success factors for
further breakthrough and
mass acceptance.
Share Economy 2017

Published by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft

By Prof Dr Nikolas Beutin

February 2018, 58 Pages, 7 Figures, Soft cover

All rights reserved. This material may not be reproduced in any form, copied onto microfilm or saved
and edited in any digital medium without the explicit permission of the editor.

This publication is intended to be a resource for our clients, and the information therein was correct
to the best of the authors’ knowledge at the time of publication. Before making any decision or taking
any action, you should consult the sources or contacts listed here. The opinions reflected are those
of the authors. The graphics may contain rounding differences.

© February 2018 PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft.
All rights reserved.
In this document, “PwC” refers to PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft,
which is a member firm of PricewaterhouseCoopers International Limited (PwCIL). Each member firm
of PwCIL is a separate and independent legal entity.
Preface

Preface

Sharing of files, music, cars,              Also, the different industry segments          All in all, we believe that the future
accommodation, machines and other           within the Share Economy are at very           looks extremely promising for future
things has become an indispensable          different maturity levels. Moreover,           Share Economy growth and acceptance
and virtually irreplaceable part of many    regulations and technological                  in the six countries.
people’s increasingly digital lifestyles.   possibilities as well as the so often looked
In fact, most of us cannot imagine living   at start-ups and platforms for the Share       Please reach out to us for a discussion on
and especially traveling without shared     Economy differ greatly per country.            the results of this report.
products and services.
                                            In the final analysis, there is to our
Just as smartphones disrupted               knowledge no currently valid and
photography and displaced private film      reliable market study to really estimate
and photo cameras, the Share Economy        current and future market size of the          Prof Dr Nikolas Beutin
has a disruptive potential of displacing    Share Economy in the different industry        Customer Practice Leader PwC Europe
people’s ownership with temporary use       segments.
of products and services.
                                            The present report aims to analyze what
In theory the Share Economy is              really matters to customers and providers
supposed to:                                with regard to the Share Economy. It
• Save resources,                           seeks to explore factors that are highly
• Strengthen regional and local             relevant for its further growth.
  communities,
• Save costs,                               In this report, we look at the Share
• Enable consumption for lower income       Economy in the following industry
  groups,                                   segments:
• Increase investments,                     • Media and Entertainment,
• Provide new jobs,                         • Hotels and Accommodation,
• Ensure access and                         • Automotive and Transport,
• Ultimately generate more freedom.         • Retail and Consumer Goods,
                                            • Services,
But how does the reality look like?         • Finance, and
The reality assumes different forms         • Machinery.
in different countries: Share Economy
is mainly attributable to selected          The report is based on a representative
population segments and cannot live         survey of over 4,500 consumers in
up to its ecological original philosophy.   the six countries Austria, Belgium,
Also, it is moving more and more from       Germany, the Netherlands, Switzerland
its peer-to-peer (P2P beginning and         and Turkey carried out by the market
original idea to professional providers     research institute Faktenkontor GmbH
(B2C) – a similar development has been      between June and August 2017.
seen at auction platforms.

                                                                                                                Share Economy 2017 5
Table of contents

   Table of contents

                       Table of figures.........................................................................................................7

                       A    Share Economy widely accepted and used...........................................................8

                       B    Share Economy 2017 – Country Deep Dive........................................................ 17
                       1    Germany...........................................................................................................18
                       2    Austria..............................................................................................................21
                       3    Switzerland.......................................................................................................24
                       4    The Netherlands...............................................................................................27
                       5    Belgium............................................................................................................30
                       6    Turkey...............................................................................................................33

                       C Share Economy 2017 – Industry Deep Dive.......................................................36
                       1 Hotels and Accommodation..............................................................................37
                       2	Automotive and Transportation........................................................................39
                       3 Retail and Consumer Goods..............................................................................42
                       4 Services............................................................................................................45
                       5 Finance.............................................................................................................48
                       6 Media and Entertainment.................................................................................51
                       7 Machinery.........................................................................................................53

                       Contacts..................................................................................................................56

6 Share Economy 2017
Table of figures

Table of figures

Fig. 1	Share Economy usage within the different industry segments......................9

Fig. 2	Average frequency of Share Economy usage within the different
        industry segments per user......................................................................... 10

Fig. 3	Current and planned average Share Economy spending per
        user by country........................................................................................... 11

Fig. 4	Differences in Share Economy spending per gender by industry.................12

Fig. 5	Percentage of overall Share Economy usage and spending
        of user segment
Share Economy widely accepted and used

  A Share Economy widely accepted and used

8 Share Economy 2017
Share Economy widely accepted and used

Almost every second respondent             Fig. 1	Share Economy usage within the different industry segments
has used Share Economy offers
during the last year.
                                                 Media and
The Share Economy is today already                                                                                         28%
                                              Entertainment
widespread. Almost every second
respondent of our survey is already
familiar with Share Economy –               Accommodation                                                20%
44% have used appropriate offers during
the last year. Indeed, all consumers are      Transportation                                           19%
excited about the personal benefits of
participating in the sharing economy.            Retail and
Expressed herein is the key enabler for                                                                19%
                                           Consumer Goods
Share Economy’s success namely the
reorientation of thought with regard
                                                   Services                                  14%
to personal possessions. Young people
in particular pay higher attention to
an improved quality of life instead of              Finance                            11%
accumulating wealth and material
property as status symbols. For them
it is more important to live intensively          Machinery                        10%
by using resources effectively than
only to work instead of experience
merely to chase values. Owning things
is perceived as emotional baggage that     But why are some offers more attractive
keeps you from living – sharing means      than others? Of course convenience
being free to do whatever you want.        and cost-savings are important factors
                                           but the growth driver is trust. It is the
This process is the basic prerequisite     basis of feeling reassured about wearing
for the success of business models like    clothes, staying in the house or getting
Share Economy because if owning value      help from someone we have never met
does not play an important role this       before. So while in some industries the
shifts the focus away from purchasing to   personal risk regarding disadvantages
experiencing.                              by using offers is low – for instance in
                                           the Media and Entertainment industry –
With regard to the considered industries   there are others with higher limitations
the respondents are currently more or      and boundaries that need to be
less familiar with utilization. Media      discerned and overcome. Across borders
and Entertainment offers appear to         more and more people have confidence
be most attractive – in comparison to      in Share Economy and plan to use offers
the other industries the utilization is    during the next year in all industries,
by far the highest with 28%. Hotels        with Media and Entertainment (–2%pt)
and Accommodation offers reach the         as an exception. Service (+7%pt) and
second highest usage (20%) along with      Hotels and Accommodation (+6%pt)
Automotive and Transport (19%) and         can expect the highest increases
Retail and Consumer Goods (19%)            followed by Automotive and Transport
almost on a similar level. The Services    (+5%pt) and Machinery (+5%pt). In the
sector achieves a usage rate of 14%.       industries Retail and Consumer Goods
Overall, Finance (11%) and Machinery       (+4%pt) as well as Finance (+2%pt)
(10%) offers show the lowest Share         the number of users will increase more
Economy usage rate today.                  moderately during the next years.

                                                                                                             Share Economy 2017 9
Share Economy widely accepted and used

  The increasing number of Share              Based on a cross-border average users      Media and Entertainment consistently
  Economy users during the next years is      utilized Share Economy offers 35 times     shows the highest frequency across
  mainly driven by a high expected rise       per user during the past year which is     all examined countries, followed
  in Turkey (+7%pt) and Switzerland           predominantly driven by the industry       by the industries Automotive and
  (+4%pt) which already represent the         sector Media and Entertainment             Transport and Retail and Consumer
  highest usage within the examined           (33 times per user per year). Automotive   each containing one exception,
  countries. Austria is expected to see       and Transport and Retail and Consumer      namely Switzerland, where Retail and
  usage increase by +2%pt, Germany            are ranked as the second highest with      Consumer is on a par with Hotels and
  along with Belgium will remain almost       a usage frequency of 9 times per user      Accommodation, Service and Finance.
  stable (+1%pt). In the Netherlands          per year, followed by Machinery with
  significantly fewer people plan to          6 times. Hotels and Accommodation,         In the past year Share Economy users
  use Share Economy offers during the         Services and Finance reach a usage         spent on average €816 on Share
  next years. There, usage is expected        frequency of 5 times per user per year.    Economy offers. In comparison to
  to decrease by –8%pt bringing the                                                      the usage of 35 times on average
  Netherlands to the lowest level regarding                                              this indicates €23 per usage. The
  usage together with Belgium (37%).                                                     industry Finance shows above-average
                                                                                         spending (€1,088 per year) while the
  Fig. 2	Average frequency of Share Economy usage within the different industry         other industries (except Media and
          segments per user                                                              Entertainment) ranged between €200
                                                                                         and €400. Media and Entertainment
              Media and                                       Retail and                 shows average expenses of less than
            Entertainment            Transportation        Consumer Goods                €100 per year.

                                                                                         Across all countries, users of Share
                                                                                         Economy plan lower expenses for
                 33.3%                   9.5%                    8.6%
                                                                                         Finance (–26%) and Hotels and
                                                                                         Accommodation (–2%) for the upcoming
                                                                                         year. However all other industries
                                                                                         expect a strong increase in spending of
                                                                                         at least 10%. For Machinery users plan
      Machinery                Finance        Accommodation             Services         to raise spending by +5%.

         5.6%                    5.4%               5.0%                 4.9%

10 Share Economy 2017
Share Economy widely accepted and used

Fig. 3	Current and planned average Share Economy spending per user by country

             €1,911

                                 €1,124                                     €1,054
€1,031
                       €939                €884       €928

                                                                 €615                 €599       €574
                                                                                                           €506       €459

                                                      +5%
         +85%                                                              +71%                                       –9%
                                 +20%                                                            –4%

      Turkey            Switzerland           Germany               Belgium              Austria            Netherlands
   Current spending per user     Planned spending per user        Percentage increase/decrease

Within all countries Turkey shows         (women 57%). Within the industries
the highest average spending on           Finance (64%), Machinery (62%)
Share Economy offers during the past      and Automotive (58%) men are
year (€1,031 per user) followed by        overrepresented – the same distribution
Switzerland with €939. German users       applies to Germany and Austria.
spent on average €884, Belgians €615,     Switzerland and the Netherlands are
Austrian €599 and Dutch users €506.       very similar. Belgium shows the most
For the upcoming year Turkish, Belgian,   significant disparity between genders
Swiss and German users plan to            with a very dominant male usage share
increase spending whereas Austrian and    across all industries. However, Turkey,
Dutch users plan to spend less on Share   in contrast to all other countries, shows
Economy.                                  a slightly higher share of female users
                                          across all industries except for Service,
Men show a higher usage and               Finance and Machinery.
higher spending on Share
Economy than women.                       In general men also spend significantly
But who are the users of Share Economy?   more on Share Economy than women.
Overall, the gender breakdown             Although men use Share Economy offers
regarding Share Economy utilization       for Hotels and Accommodation as well
is rather balanced – 51% of the overall   as Automotive and Transport much
Share Economy users are men. Relative     more often, women show on average
to women men show a significantly         slightly higher spending on these
higher usage rate across all industries   respective industries.
except Retail and Consumer Goods

                                                                                                         Share Economy 2017 11
Share Economy widely accepted and used

  Fig. 4	Differences in Share Economy spending per gender by industry                      Share Economy attracts younger
                                                                                            adults – every second user is under
                                                                                            40 years.
                                                                                            Not quite surprisingly, across all
          Men                                                          Women                countries and considered industries
                                                                                            Share Economy attracts especially
                                     Accommodation                                          younger adults – almost every second
              54%                                                            46%            user is under 40 years (53%). Across
                          €356                                  €446                        all industries the usage decreases with
                                                                                            increasing age. Within the considered
                                          Automotive                                        industries Finance shows the highest
                                                                                            share of young adults under 40 years
            58%                                                           42%
                                                                                            (66%) – the number of users older than
                              €226                           €326
                                                                                            40 is greater in Services (especially for
                                                                                            households) than is the case in the other
                                           Finance
                                                                                            industries.
        64%                                                            36%
    €1,072                                                                         €1,116   Turkish users show the lowest average
                                                                                            age with 37.8 years. In Belgium, the
                                          Machinery                                         Netherlands, Austria and Germany the
           62%                                                          38%                 average age of Share Economy users
                              €206                          €245                            is around 41. On average Swiss users
                                                                                            are the oldest within the countries
                               Media and Entertainment                                      (43.2 years). Thus, young adult users
              54%                                                            46%            (
Share Economy widely accepted and used

Fig. 5	Percentage of overall Share Economy usage and spending of user
        segment
Share Economy widely accepted and used

  Fig. 6	Percentage of overall Share Economy usage and spending of user
          segment with higher education

                                             Austria
                                                                    62%
                                                                    64%
                                             Belgium
                              64%                                 55%
                                                                        71%
                                             Germany
                  Overall           75%
                                                                   59%
               Users with higher
               education (64% of                                     70%
             Share Economy users)            Netherlands
               contribute 75% to                                       63%
                 overall Share
                                                                              85%
              Economy spending
                                             Switzerland
                                                                50%
                                                                       66%
                                             Turkey
                                                                               91%
                                                                                94%

      Share of Share Economy users with higher education
      Share of spending by Share Economy users with higher education

  Users follow not so much the                 Within the countries Dutch non-users        Summarizing, users of Share Economy
  basic idea of unselfish sharing              are most critical, as 50% do not perceive   across all countries follow not so much
  and are more driven by the aim of            any advantage. By way of contrast, only     the basic idea of unselfish sharing
  maximizing their own benefit.                21% of Turkish non-users believe that       and instead aim to maximize their
  Across all countries users are convinced     they do not profit from Share Economy       personal benefit. Besides the personal
  that they benefit from Share Economy         utilization.                                advantages users also demonstrate
  offers. Only 8% of the users do not                                                      a higher orientation towards
  perceive any benefit. Current non-users      From a user’s perspective Share             environmental aspects. 75% believe
  still have to be convinced – as almost       Economy offers various benefits.            that Share Economy is better for the
  every second non-user (42%) does             Overarching users especially appreciate     environment especially by reduced
  not see any advantage by using Share         the improved value for money (47%).         waste of material (80%). Overall 23%
  Economy offers. This group can be            In this context 84% of users agree          believe that they profit from Share
  characterized as very skeptical mainly       that sharing is the less expensive          Economy providers’ higher orientation
  driven by the fear of suffering from any     alternative to owning. Furthermore,         towards environmental protection and
  personal disadvantage.                       84% of users value the higher flexibility   sustainability. The linkage between
                                               for consumers by Share Economy              environment protection and Share
                                               utilization. Almost the same percentage     Economy utilization is much more
                                               (79%) agrees to the benefit of making       pronounced in Germany, Austria and
                                               specific lifestyles more affordable by      Switzerland than in the Netherlands,
                                               sharing things instead of owning them.      Belgium and Turkey.

14 Share Economy 2017
Share Economy widely accepted and used

Fig. 7	Perceived benefits from Share Economy usage

Better price for the same service
                                                                                  47%
                                                 27%
More direct and personal interaction
                                              25%
                              16%
Easier and more convenient access and availability of providers
                                            24%
                 9%
Higher attention to environmental protection and sustainability
                                          23%
                                    19%
Higher customer value
                                        22%
                          14%
Greater product/service portfolio
                                       21%
                 9%
Being part of a “community”
                                    19%
                             15%

I don’t see any advantages
               8%
                                                                          42%

   User         Non-users

Lack of clarity about liability in             The guarantee of being an expert           expert offering Share Economy services
case of problems and damage is a               to ensure sufficient insurance             (65%). Personal security is an important
major obstacle to further market               protection has highest impact              factor to increase acceptance of Share
penetration.                                   on attractiveness of Share                 Economy on the one hand. On the
Regarding disadvantages of Share               Economy in addition to pricing             other hand higher transparency is an
Economy utilization users across all           transparency.                              important criterion as well: 36% of
countries commonly criticize the               To increase attractiveness, for users      Share Economy users agree that higher
unclear liability situation in case            as well as current non-users, ensuring     transparency relating to prices would
of problems and damage (44%).                  that providers have sufficient insurance   increase attractiveness.
Furthermore, downsides include the             protection (36%) is the most important
lack of quality standards (30%) and            lever. Additionally, reassuring users      Especially the Austrian and Swiss
security (29%). Countries such as              that real professionals are taking         users would also appreciate higher
Germany, Austria and Switzerland seem          care of them (e.g. electrician) would      transparency regarding compliance
to be particularly critical regarding          also have a significant effect on          with legal regulations. Furthermore,
these topics. Especially Turkish users         attractiveness (36%). This is mainly       in particular Turkish and Dutch users
also show a high sensitivity towards           driven by users’ concern that anyone       would also be attracted by improved
non-transparent prices and costs.              could easily become a self-proclaimed      data protection.

                                                                                                              Share Economy 2017 15
Share Economy widely accepted and used

                                         Personal recommendations                     Share Economy is here to stay – the
                                         increase trust in Share Economy              majority of respondents expects
                                         offers                                       Share Economy not only to be a
                                         Consumers of Share Economy offers            short-term trend but an important,
                                         seek to maximize personal benefit.           sustainable future market.
                                         Therefore, they have to distinguish          In conclusion the principle of Share
                                         “good” from “bad” offers. For better         Economy is nothing new as it is the
                                         orientation, across all countries, the       basic idea of a cooperative society
                                         majority trusts in personal referral.        model. What distinguishes current
                                         79% of users agree to be willing to test a   Share Economy from that is the higher
                                         Share Economy offer if a trusted person      attention to a cooperative economy,
                                         gives a recommendation. In addition,         which makes this trend appear more as
                                         66% of users value “technologies”            a new version of capitalist growth. And
                                         such as Social Media which offer the         the new idea of sharing is the future.
                                         possibility of adding a face to an offer,
                                         thus increasing users’ trust.                On average 63% of respondents expect
                                                                                      that Share Economy is not only a short-
                                         Overall Share Economy companies are          term trend. Across all countries there is
                                         already positioned in the consumer’s         also a consensus that Share Economy is
                                         mindset as a serious competitor of           closely linked to societal and economic
                                         traditional providers (74%). But with        changes. In this context 72% support
                                         regard to the considered industries Media    the idea that these changes will have
                                         and Entertainment is the only sector with    an impact on the job market and will
                                         higher trust towards Share Economy           lead to a shift from traditional 40‑hour
                                         providers compared to conventional           jobs to having multiple sources of
                                         providers. In all other industries           income becoming the norm in 2030.
                                         traditional providers enjoy higher           Regarding this, more than every second
                                         confidence. Turkey is the only exception     respondent (52%) believes that Share
                                         in this respect as not only Media and        Economy will destroy jobs in traditional
                                         Entertainment users but also users in        companies. Beside this negative impact
                                         the Automotive industry show higher          on traditional jobs, 60% of respondents
                                         trust towards Share Economy providers.       perceive Share Economy as creating a
                                                                                      strong community since society benefits
                                                                                      from the basic idea of sharing (72%).
                                                                                      However 48% of respondents expect
                                                                                      that the character of Share Economy
                                                                                      will change in the future as the basic
                                                                                      idea of sharing will be entirely replaced
             Share Economy is here to stay –                                          by making profit by 2030.

             the majority of respondents
             expects Share Economy to be a
             sustainable future market.

16 Share Economy 2017
Share Economy 2017 – Country Deep Dive

B Share Economy 2017 – Country Deep Dive

                                              Share Economy 2017 17
Share Economy 2017 – Country Deep Dive

  1 Germany

      39%            have used a Share
      Economy offer within the past year
                                                                          40%            plan to use a Share
                                                                          Economy offer within the next year

                        51%              of users are male
                                                                                          53%             of users are between
                                                                                          18 and 39 years old

      21%            have provided a Share
      Economy offer during the last year
                                                                          24%            plan to provide a Share
                                                                          Economy offer within the next year

                        €884             is on average spent
                        on Share Economy offers per user
                                                                                          29x          average usage of
                                                                                          Share Economy offers per user
                        within one year                                                   within one year

  Most used Share Economy offers by Germans
                    Media and                                     Retail and                                     Hotels and
                    Entertainment                                 Consumer Goods                                 Accommodation
                    (23%)                                         (20%)                                          (17%)

  Advantages (users perceive) of Share Economy

  50%             agree that Share
  Economy offers a better price-
                                                   25%             agree that
                                                   Share Economy providers pay
                                                                                               25%              agree that Share
                                                                                               Economy offers a more personal
  performance-ratio                                more attention to environmental             direct interaction between
                                                   protection and sustainability               consumers and providers

  Disadvantages (users perceive) of Share Economy

       47%                raise concerns
       regarding not clearly defined
                                                       33%               perceive the
                                                       lack of quality standards as key
                                                                                                     29%             have concerns
                                                                                                     regarding security
       liabilities in case of issues and               disadvantage
       damages

18 Share Economy 2017
Share Economy 2017 – Country Deep Dive

Germany has the second largest               Especially Germans plan to intensify         Furthermore, the results indicate
Share Economy market of the six              usage of Service offers (+5%pt) along        that females use sharing services
countries subject to the survey              with Hotels and Accommodation                in Machinery as well as Retail and
with an overall market size of               (+4%pt), Automotive (+4%pt) and              Consumer Goods more often, but men
€22.9bn.                                     Machinery (+4%pt).                           have a higher usage in all remaining
Germany belongs to the leading                                                            industries, especially Finance,
economies in terms of GDP, which             On average German users utilize              Automotive and Transportation and
is why the country’s Share Economy           Share Economy services 29.2 times            Services. After all, demand for 86% of
potential requires a closer look. Based      per year mainly driven by Media and          Finance services is attributable to men.
on the answers of the 2,000 respondents      Entertainment (29.1 times per user per       Therefore, although male users have a
in Germany, PwC estimates the Share          year) and Retail and Consumer Goods          higher affinity to make more frequent
Economy size in Germany to be €22.9bn.       (8 times per user per year).                 use of Share Economy offers in industries
The sector with the highest turnover                                                      such as Hotels and Accommodation,
in Germany is Finance with €7.7bn            During the last year every German user       Automotive and Transportation and
turnover, followed by Hotels and             spent on average €884 on Share Economy       Services, their willingness to pay is lower
Accommodation (€5bn) and Automotive          offers. In terms of industry turnover,       than that of females.
and Transportation (€3.5bn). The sector      users spend most on Finance services
Retail and Consumer Goods is worth           with an average spending of €1,229 per       The German Share Economy market
€2.6bn while Services generate €2.2bn        user, whereas the mean spending in the       also reveals that user rate as well as
and Media and Entertainment €1.0bn;          Media and Entertainment sector is the        usage rate decreases with increasing
Machinery is estimated at €0.8bn.            lowest (€62).                                age. 53% of current users are between
                                                                                          18–40 years old, they account for a
The overall Share Economy market is          Overall, 2% more Germans plan to make        greater percentage of sharing services
expected to increase by 5.3% next year       use of Share Economy services in the         (68%) and contribute more than half
to a market size of €24.1bn. This is based   course of next year. Industries such as      of total spending (62%). Industry-wise,
on the planned spending of users. Other      Machinery and Services can expect a          this age group generates more than 70%
sectors are expected to increase with        higher relative increase while Media and     of turnover in Retail and Consumer
the highest growth rates in Machinery        Entertainment might face a decrease          Goods, Services and Hotels and
(+43%), Media and Entertainment              in users (–8%). In addition, potential       Accommodation and in addition account
(+26%) and Services (+25%).                  spending is expected to increase by 5%       for the majority of the usages of Finance
                                             in comparison to this year’s individual      (85%) and Machinery (83%). On the
39% of Germans use Share                     spending. This trend is mostly driven by     other hand, almost half of the spending
Economy services. While Media                an increase in the planned spending in       in Automotive and Transportation can
and Entertainment has the highest            Media and Entertainment (+35%).              be attributed to users above 50 years.
user rate, average spending
of users is highest for finance              Slightly more men than women                 People with a higher educational
services.                                    use Share Economy services.                  level tend to use Share Economy
It was revealed that 39% of Germans          Usage and spending decrease                  more often and spend more
have used a Share Economy service            significantly with increasing age.           money. Share Economy spending
within the past year which represents        Taking a closer look into user               increases with disposable income.
the second lowest adoption rate of all six   characteristics, it can be seen that there   The majority of Share Economy users
examined countries. Only the acceptance      is almost an even split of female and male   have a higher education level (above
of sharing services of Belgians is lower.    users in Germany. Despite the slightly       A-level) and they contribute 70% of total
Within the considered industries Media       higher amount of male users (51%), women     market spending and also generate more
and Entertainment shows the highest          spend a bit more on Share Economy            than 70% of revenues in the Services,
usage rate (23%), followed by Retail and     services while men have a higher usage       Automotive and Transportation and
Consumer Goods (20%) and Hotels and          frequency. Women also account more           Transportation as well as Hotels and
Accommodation (17%).                         for Hotels and Accommodation services        Accommodation sector. Although people
                                             (60%), Retail and Consumer Goods as          with a lower educational level account
Regarding next year overall only slightly    well as Services (62% each); however,        for only 39% of all finance spending,
more respondents plan to participate in      more of the turnover of Machinery            they purchased more than half of the
sharing economy as consumers (+1%pt)         (65%), Media and Entertainment               number of finance services provided.
but with regard to the specific industries   (61%) and Finance (57%) services and
some show a significant increase.            products is ascribed to male users.

                                                                                                               Share Economy 2017 19
Share Economy 2017 – Country Deep Dive

  Furthermore, it has been identified        The majority of German respondents          More Germans plan to offer a service
  that the income level is a significant     also criticize Share Economy for            to others, especially in the Hotels and
  indicator of overall spending, showing a   enabling everyone to easily become          Accommodation sector (+25%).
  relation between user rate and income      a professional provider and be a
  level. While only 16% of German users      competitive threat for traditional          Every second current user perceives an
  had a monthly disposable household         organizations.                              improved price-performance ratio for
  income above €4k, they accounted for                                                   the same service as the main benefit of
  38% of overall Share Economy turnover      To improve the attractiveness of            Share Economy services. Additionally,
  in Germany. Their contribution to the      Share Economy, users would like             one fourth of users emphasizes the
  revenues of the following sectors was      to be reassured that providers have         increased attention of Share Economy
  particularly high: Retail and Consumer     sufficient insurance protection (41%        providers to environmental protection
  Goods (49%), Services (46%) and            of users, 36% of all respondents) and       and sustainability as well as the
  Hotels and Accommodation (43%).            that professionals take care of them        improved personal interaction between
  Although 37% of the sample indicated       (38% of users, 32% of all respondents).     users and providers and the feeling of
  a disposable household income of less      The transparency of prices is another       being part of a community. On the other
  than €2k, their contribution to the        important aspect for 28% of Germans         hand, 46% of current non-users do
  overall Share Economy spending made        (35% of users).                             not see any advantage Share Economy
  up only 18%.                                                                           providers could offer.
                                             83% of Germans perceive that Share
  While the decision whether to use a        Economy is based on trust between           Providers on the other hand perceive the
  specific Share Economy service does not    provider and user, however, 63% have        monetary benefit of an additional source
  seem to be influenced by the city size,    lower trust in people nowadays than in      of income as the strongest motivation.
  overall spending seems to increase with    the past. Even current users would trust    This is backed by 29% of providers.
  increasing size. We observed that 28%      a traditional provider more than a Share    In addition, having the possibility
  of total turnover is generated in cities   Economy provider, whereas Media and         to pass on one’s spare time or spare
  with more than 500.000 inhabitants.        Entertainment services are the only         items to others is perceived as another
  Users in these cities contribute most      exception.                                  advantage. Although the majority of
  to industry spending in Retail and                                                     Germans agrees that Share Economy
  Consumer Goods and Services (42% of        Nevertheless, Germans still believe         reduces the waste of material and that
  each turnover). In smaller cities with     that Share Economy will not simply be       it is cheaper to share items instead of
  less than 50.000 inhabitants, users        a short-term phenomenon but expect          owning them, more than 30% of non-
  spend more on Machinery and Media          the future job market in 2030 to change     providers cannot imagine any benefit of
  and Entertainment.                         from having one main occupation to          Share Economy for providers.
                                             having multiple sources of income which
  Users consider the personal                holds additional potential for the future
  benefit of Share Economy with a            of the German Share Economy market.
  better price performance ratio
  to be more important than its              Every fifth German has already
  benefits for society.                      provided a Share Economy service.
  German users as well as current            Within the last year, 21% of Germans
  non-users criticize most the absence       have at least offered one Share Economy
  of liability in case of problems and       service and on average provided
  damages (45%), quality standards and       40 services each. Despite the marginal
  security, providers worry most about       increase in users, the number of
  the uncertainty of income (23% of          Share Economy providers is expected
  providers) and the not clearly defined     to increase in all industries by 13%.
  legal situation in terms of income tax
  and related topics (22% of providers).

20 Share Economy 2017
Share Economy 2017 – Country Deep Dive

2 Austria

   47%            have used a Share
   Economy offer within the past year
                                                                  49%            plan to use a Share
                                                                  Economy offer within the next year

                  52%              of users are male
                                                                                53%             of users are between
                                                                                18 and 39 years old

   23%            have provided a Share
   Economy offer during the last year
                                                                  28%            plan to provide a Share
                                                                  Economy offer within the next year

                  €574            is on average spent
                  on Share Economy offers per user
                                                                                31x          average usage of
                                                                                Share Economy offers per user
                  within one year                                               within one year

Most used Share Economy offers by Austrians
                Media and                                   Hotels and                                  Automotive and
                Entertainment                               Accommodation                               Transportation
                (28%)                                       (20%)                                       (20%)

Advantages (users perceive) of Share Economy

54%             agree that Share
Economy offers a better price-
                                            31%             agree that
                                            Share Economy offers pay more
                                                                                     30%              agree that Share
                                                                                     Economy offers a more personal
performance-ratio                           attention to environmental               direct interaction between
                                            protection and sustainability            consumers and providers

Disadvantages (users perceive) of Share Economy

   54%                raise concerns
   regarding not clearly defined
                                                33%             have concerns
                                                regarding security
                                                                                           30%               perceive the
                                                                                           lack of quality standards as key
   liabilities in case of issues and                                                       disadvantage
   damages

                                                                                                        Share Economy 2017 21
Share Economy 2017 – Country Deep Dive

  Austria ranks last in terms of             For the next year +2%pt of Austrians      52% of Share Economy users
  overall market size together with          plan to use Share Economy offers.         are male and are more willing
  Belgium and is not expected to             With regard to the specific industries    to spend more on services used.
  grow in the next year.                     especially Service will show a            Spending and usage increases
  The estimated market size of the Share     significant increase of usage rate        with decreasing age.
  Economy in Austria is €2.0bn. As in most   (+6%pt). The second strongest increase    In terms of identified user characteristics,
  other countries, Finance is revenue-       can be expected for Automotive and        men represent 52% of all Austrian users
  wise the largest market in Austria with    Transport (+4%pt), followed by Hotels     and have a higher dominance in all
  €0.9bn. This is followed by Hotels and     and Accommodation (+3%pt.) and            examined industries except for Retail
  Accommodation with a market size of        Finance (+2%pt). Retail and Consumer      and Consumer Goods which is not only
  €0.4bn and Machinery and Retail and        Goods will remain static at the same      used to a greater extent by females, but
  Consumer Goods, which both have a          level, Media and Entertainment usage      also generates slightly more turnover
  market share of €0.2bn. The remaining      will face a decline of –3%pt.             by women. However, overall and in
  sectors each have an approximate                                                     all remaining industries, men spend
  market size of €0.1bn.                     On average, each Austrian respondent      more on sharing services, contributing
                                             uses Share Economy services 14.9 times    a share of 60%. One further trend,
  In contrast to most countries in the       while spending €284. Identified           examined also in other countries: More
  survey, the overall Share Economy          users utilize sharing services on         than half of the users, namely 53%, are
  market in Austria is expected to           31.5 occasions, spending about €600       between 18 and 39 years old. The same
  decrease by 6.1% in the next year.         each. Media and Entertainment services    applies for Share Economy spending
  This is primarily driven by a decrease     are used most frequently, followed        of which 56% were contributed by the
  of planned spending on Finance services    by Automotive and Transportation          same target group. In terms of age, the
  of 41%. The Services sector is expected    offers, whereas Austrians rarely use      user’s willingness to pay decreases with
  to increase by 70% and the Automotive      Finance services. In terms of industry    increasing age.
  and Transportation sector by 49%. In       spending, the mean contribution of each
  addition, the Media and Entertainment      respondent is highest in Finance (€112)   Furthermore, the majority of Austrian
  and the Hotels and Accommodation           and Hotels and Accommodation (€64),       users (62%) has a higher education
  sector are anticipated to increase by a    while the mostly used sector, Media       above A-level and only a minority of
  double-digit rate. The Machinery sector    and Entertainment only generates an       5% has an income below €1k. Share
  is expected to decrease by 10%, whereas    average of €12 per Austrian.              Economy services appeal to a greater
  Retail and Consumer Goods is expected                                                extent to Austrians with a higher
  to stay constant.                          For next year, 3% more Austrians          income. 61% of total spending was
                                             plan to use sharing services, with the    generated by users with an income
  Almost every second Austrian               highest relative increase of users in     above €3k, in Finance this respective
  uses sharing services and the user         Services (+43%) and Automotive and        category contributes 75%.
  rate is expected to increase by            Transportation (+21%). However,
  3%. Highest usage identified for           fewer people are planning to use Media    Although user rates are similar across
  Media and Entertainment services           and Entertainment services (–11%).        city size, 54% of total Share Economy
  though lowest average spending             Although the user rate is expected to     turnover was generated by users from
  per user.                                  increase, Austrians plan to spend less    cities with more than 100k inhabitants.
  In Austria, 47% of respondents have        on Share Economy next year (–4%).         However, neither spending nor usage
  used at least one Share Economy service    Machinery services have to expect a       seems to be influenced by city size.
  within the past year. The results of the   decrease of 9% of Austrians, or 11% of
  examined 500 respondents show that         current users.
  Austrians prefer sharing services mostly
  in the sector Media and Entertainment,
  with a usage rate of 28%, followed by
  Hotels and Accommodation, Automotive
  and Retail and Consumer Goods (20%
  in each case).

22 Share Economy 2017
Share Economy 2017 – Country Deep Dive

                                           To increase the attractiveness of Share
                                           Economy services and providers, Austrians
                                           want to be reassured that providers have
                                           sufficient insurance protection.

The main motivation for                     Some also wish for more transparency         In Austria, almost every fourth
Austrians to use Share Economy              regarding compliance with legal              person provides a sharing service.
services is the monetary benefit.           provisions. A majority of 82% of Austrians   Currently, 23% of Austrians have
The trust in traditional providers          furthermore agrees that users benefit        provided a Share Economy service
is stronger than the trust in Share         most from Share Economy. Additionally,       within the last year, while 28% plan to
Economy providers.                          the reduced waste of material and the        offer one next year. So far, the highest
From a user perspective, the superior       thought of sharing is also perceived as a    provider presence was identified in
value for money for the same service        positive impact on society.                  Retail and Consumer Goods (15% of
(54%) as well as the attention to                                                        Austrians) as well as Services (9% of
environmental protection and                86% agree that Share Economy is based        Austrians) with a service provided on
sustainability (31%) and the more           on the trust between provider and user       average on 30 occasions; this is expected
personal interaction between users          and it is more cost-efficient to share       to increase.
and providers (30%) are the main            instead of owning items (81%). The
advantages Share Economy providers          survey revealed that 70% of Austrians        From a provider’s perspective, the
offer. However, 34% of current              do not trust brands nowadays more than       monetary aspect of an additional
non-users still do not perceive any         in the past and perceive Share Economy       income (39%) is perceived as the main
advantages. By way of contrast, users       providers as a competitive threat for        benefit of providing Share Economy
mainly criticize the uncertainty            traditional organizations. In all sectors    services. Having the possibility to pass
regarding clearly defined liabilities in    except Media and Entertainment, the          spare items and time on to others is
the event of issues or damages (54%)        traditional provider is the more trusted     regarded as a further advantage for
and have concerns regarding the lack of     partner while non-users tend to trust        16% of providers while one in every five
security and quality standards.             traditional providers to a greater extent    currently non-providing Austrians does
                                            across all industries.                       not see any advantage for providing a
To increase the attractiveness of Share                                                  sharing service. Nevertheless, providers
Economy services and providers,             With respect to the future, almost           also have concerns regarding their role
Austrians want to be reassured that         two third of Austrians expect the job        in the Share Economy market. One third
providers have sufficient insurance         situation in 2030 to be changed from the     of providers emphasize the uncertain
protection (e.g. in case of damages)        traditional 40-hour job to having several    legal situation, for example in terms of
(54% of users, 47% of all respondents)      sources of income and therefore Share        income tax, while further respondents
and that professionals take care of them    Economy to be a long-term topic.             perceive the uncertain source of income
(46% of users, 41% of all respondents).                                                  and lack of privacy as pain points worth
                                                                                         mentioning.

                                                                                                             Share Economy 2017 23
Share Economy 2017 – Country Deep Dive

  3 Switzerland

      48%            have used a Share
      Economy offer within the past year
                                                                         52%            plan to use a Share
                                                                         Economy offer within the next year

                        49%              of users are male
                                                                                       45%             of users are between
                                                                                       18 and 39 years old

      19%            have provided a Share
      Economy offer during the last year
                                                                         27%            plan to provide a Share
                                                                         Economy offer within the next year

                        €939            is on average spent
                        on Share Economy offers per user
                                                                                       31x          average usage of
                                                                                       Share Economy offers per user
                        within one year                                                within one year

  Most used Share Economy offers by Swiss
                        Automotive and                             Media and                                  Hotels and
                        Transportation                             Entertainment                              Accommodation
                        (26%)                                      (25%)                                      (23%)

  Advantages (users perceive) of Share Economy

  52%            agree that Share
  Economy offers a better price-
                                                  27%              agree that Share
                                                  Economy providers pay more
                                                                                            23%            agree that
                                                                                            Share Economy providers offer
  performance-ratio                               attention to environmental                more convenient access and
                                                  protection and sustainability             availability

  Disadvantages (users perceive) of Share Economy

       49%                raise concerns
       regarding not clearly defined
                                                      29%             have concerns
                                                      regarding security
                                                                                                  29%               perceive the
                                                                                                  lack of quality standards as key
       liabilities in case of issues and                                                          disadvantage
       damages

24 Share Economy 2017
Share Economy 2017 – Country Deep Dive

Switzerland exhibits the third              of the Swiss. Machinery as well as         Slightly more women adopted the
largest Share Economy market size           Finance show the lowest acceptance         use of Share Economy services but
of all countries in scope with an           as they achieve a user rate of 6%          men tend to spend more, younger
overall market size of €3.3bn and           each. Regarding next year even more        and better educated people tend to
an expected growth rate of 20%.             Swiss plan to take advantage of Share      spend more.
According to the data, with a sample size   Economy offers, which will raise user      With a user share of 51% slightly more
of 500 the market size of Share Economy     share by +4%pt across all industries.      women utilize Share Economy in
services in Switzerland is estimated at     The strongest increase in user rate can    Switzerland which is primarily driven
€3.3bn. Based on these results, it ranks    be expected for Retail and Consumer        by the industry Retail and Consumer
third after Germany and Turkey. The         Goods (+8%pt.) followed by Hotels          Goods (60%). The Services sector
leading sectors Finance and Hotels and      and Accommodation and Services with        shows a balanced gender breakdown,
Accommodation account for more than         +6%pt. Machinery will raise user share     however the remaining industries show
62% of the overall market and have          by +4%pt., Finance and Automotive by       higher male user rates. Especially in
individual market sizes of €1.1bn and       3%pt. Media and Entertainment is the       the industries Finance and Machinery
€0.9bn. Automotive and Transportation       only industry that is planned to be used   user share of Swiss men exceeds 60%.
and Retail and Consumer Goods make          by fewer Swiss consumers (–3%pt.) in       Despite the balanced gender distribution
up a medium market size with €0.5bn         the upcoming year.                         among users, men are on top regarding
and €0.3bn, while Media, Services and                                                  expenditures across all industries. 65%
Machinery have each less than €0.2bn.       An average Swiss user utilized Share       of overall spending on Share Economy is
                                            Economy services 31 times within the       generated by men. In specific industries
The Swiss Share Economy market is           last year. Media and Entertainment         such as Retail and Consumer Goods,
expected to increase by 20% to €3.9bn       offers show the highest usage frequency    Finance, Media and Entertainment, and
in the next year. The leading Finance       within the industries (41 times per user   Machinery the expenditure share of
sector is expected to grow by 16% while     per year). Automotive, with the second     male users exceeds 70%.
the Hotels and Accommodation sector         highest frequency, is used 10 times per
is likely to decrease by 1%; Automotive     user per year. The remaining industries    45% of Swiss users are young adults
and Transportation is expected to           show a frequency ranged between 2 and      under 40 years. With regard to different
decline by 15%. Apart from Machinery,       4 times per user per year. On average,     sectors, young adults are most strongly
all remaining sectors are expected to       each user spent €939 on Share Economy      represented at Finance (71%) ahead
increase and the highest growth might       during the past year, mainly driven by     of Media and Entertainment (61%).
occur in the Services sector, which         Finance (€2,415) and Hotels (€555).        Compared to the other countries
is expected to increase to an overall       Automotive, Retail and Consumer            examined, in Switzerland older users
revenue of €0.7bn.                          Goods and Machinery and Service            are represented to an above-average
                                            attained spending ranging between          extent. Across the industries Hotels and
48% of Swiss respondents use                €150 and €350 per user per year. For       Accommodation, Automotive, Retail and
Share Economy services and users            Media and Entertainment offers users       Consumer Goods and Services almost
plan to increase their spending             spent on average only €91.                 every fourth person is older than 60.
on Finance and Media and
Entertainment next year.                    For next year Swiss users plan to          With regard to the education
Switzerland shows a strong utilization      increase expenditures for Share            background in Switzerland, there is a
of Share Economy services. During the       Economy by +20%; this is exclusively       balanced relation between users with
past year almost every second Swiss         driven by Services (+219%) and             A-level education or higher and users
respondent (48%) used relevant offers.      Media and Entertainment (+24%).            with a lower education level. For Retail
Regarding the specific industries           Regarding industries Finance, Hotels       and Consumer Goods, Finance, Media
Automotive and Transportation (26%),        and Accommodation, Automotive              and Entertainment and Machinery the
Media and Entertainment (25%) and           and Transportation and Retail and          expenditure share of high-education
Hotels and Accommodation (23%) are          Consumer Goods Swiss users plan            users exceeds 70%. In contrast to that
the most attractive gaining the highest     to reduce expenditures by almost a         Services shows not only a higher usage
user rates. Retail and Consumer Goods       quarter – for Machinery a reduction of     rate (70%) but also a higher expenditure
offers are used by 13%, Services by 11%     –64% for the upcoming year is planned.     share (54%) for users with a lower
                                                                                       education level.

                                                                                                           Share Economy 2017 25
Share Economy 2017 – Country Deep Dive

  Swiss consumers highly value                Reassuring users that providers have         from the traditional 40-hour job to
  higher sustainability and better            sufficient insurance protection would        employees relying on several sources
  environmental impact of Share               increase attractiveness of Share Economy     of income becoming the norm in 2030.
  Economy offers.                             for almost every second (44%) Swiss.         Regarding this every second Swiss
  In Switzerland people are convinced         As 57% of Swiss feel concerned about the     (49%) believes that Share Economy will
  that they benefit from Share Economy –      fact that everyone could easily become       destroy jobs in traditional companies.
  only one in five does not perceive          a self-proclaimed expert it could also
  any advantage related to relevant           have a lasting effect on attractiveness to   Despite the negative impact on
  offers. From a user’s perspective Share     guarantee users that real professionals      traditional jobs 71% of current users
  Economy provides numerous benefits.         are taking care of them (36%). The           believe that Share Economy creates a
  The Swiss users as well as current          attractiveness of Share Economy offers       strong community as society benefits
  non-users especially appreciate the         would increase by a higher level of          from the basic idea of sharing (78%).
  improved value for money (42% price-        transparency regarding prices (33%) as       However 43% of Swiss expect that the
  performance ratio). In that context 88%     well as regarding compliance with legal      character of Share Economy will change
  of users are convinced that sharing is      requirements (30%).                          in the future as the basic idea of sharing
  the less expensive alternative to owning.                                                will be totally replaced by making profit
  Therefore, users trust that using Share     Personal referral is a key success           by the year 2030.
  Economy makes specific lifestyles more      factor to promote trust.
  affordable (76%). Furthermore users         Personal referral is an important factor     In Switzerland, currently one
  feel they benefit from Share Economy        for Swiss users building trust in Share      in every five persons provides a
  utilization because relevant offers         Economy offers. Therefore, 80% of users      sharing service.
  provide them with higher flexibility        agree to be willing to test an offer if a    19% of the Swiss have provided a Share
  (84%). Besides the personal advantage       trusted person gives a recommendation.       Economy service within the last year.
  the Swiss show a strong orientation         In this context it makes technologies        For next year the provider rate will show
  towards environmental protection and        such as social media important as 62%        a strong increase of +8%pt.
  sustainability. 70% of Swiss value the      of users claim it creates trust to see the
  reduced waste of material – therefore       people behind the offers.                    To date, the highest provider presence
  66% believe that using Share Economy                                                     is identified in the industry Hotels
  offers is better for the environment.       Overall Share Economy companies              and Accommodation (11% of Swiss),
  27% of Swiss appreciate that Share          are already positioned in a majority’s       followed by Retail and Consumer Goods
  Economy providers pay more attention        mindset as serious competitors to            (10%) and Automotive and Transport
  to environment protection and               traditional providers (70%). But of all      along with Services (both 9%). Across all
  sustainability which is perceived as the    industries Media and Entertainment           industries a rising number of providers
  second highest benefit.                     is the only one with higher user trust       can be expected for the next year.
                                              towards Share Economy providers. In all
  Unclear liability is seen as a              other considered industries traditional      From a provider’s perspective, the
  major disadvantage which is why             providers enjoy higher confidence.           monetary aspect of an additional income
  sufficient insurance protection             Non-users show limited trust to Share        (24%) is perceived as the main benefit of
  could be a major enabler for Share          Economy providers across all industries.     providing Share Economy services. But
  Economy usage.                                                                           also having the possibility to pass spare
  With respect to disadvantages of Share      71% of the Swiss are convinced               items and time on to others is regarded as
  Economy every second Swiss criticizes       of the long-term success of Share            a further advantage for 18% of providers.
  the unclear liability situation in case     Economy.                                     Only one in every seven currently
  of issues and damage (50%) followed         The Swiss, users as well as current          non-providing Swiss does not see any
  by a lack of quality (28%) and security     non-users, mainly expect that Share          advantage for providing a sharing service.
  (26%). In addition, 22% also consider       Economy is not merely a short-term           Nevertheless, providers as well as users
  that worse data protection is a downside    trend but will still be present in the       have concerns regarding their role in the
  aspect of Share Economy. 16% of Swiss       distant future (71%). In Switzerland         Share Economy market. 24% of providers
  miss transparency regarding prices or       there is also a broad consensus that         criticize the uncertain legal situation, for
  rather costs.                               Share Economy is closely linked to           example in terms of income tax. Almost
                                              societal and economic changes. In this       one in every five persons perceives the
                                              context 76% of users and 67% of current      uncertain source of income and lack of
                                              non-users support the idea that a change     social benefits as disadvantages with
                                              on the job market will lead to the shift     regard to providing offers.

26 Share Economy 2017
Share Economy 2017 – Country Deep Dive

4 The Netherlands

   44%            have used a Share
   Economy offer within the past year
                                                                   37%            plan to use a Share
                                                                   Economy offer within the next year

                  51%             of users are male
                                                                                   52%             of users are between
                                                                                   18 and 39 years old

   16%            have provided a Share
   Economy offer during the last year
                                                                   19%            plan to provide a Share
                                                                   Economy offer within the next year

                  €506             is on average spent
                  on Share Economy offers per user
                                                                                   53x          average usage of
                                                                                   Share Economy offers per user
                  within one year                                                  within one year

Most used Share Economy offers by Dutch
                Media and                                    Hotels and                                     Automotive and
                Entertainment                                Accommodation                                  Transportation
                (35%)                                        (18%)                                          (10%)

Advantages (users perceive) of Share Economy

42%            agree that Share
Economy offers a better price-
                                            30%            agree that
                                            Share Economy providers offer a
                                                                                        27%              agree that Share
                                                                                        Economy providers offer more
performance-ratio                           higher consumer benefit                     direct interaction between user
                                                                                        and provider

Disadvantages (users perceive) of Share Economy

   39%                raise concerns
   regarding not clearly defined
                                                33%               perceive the
                                                lack of quality standards as key
                                                                                              26%             have concerns
                                                                                              regarding security
   liabilities in case of issues and            disadvantage
   damages

                                                                                                           Share Economy 2017 27
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