Sharing Economy : A New Business Trend
In the world of constantly evolving technology and new start-up businesses popping up everywhere, change is inevitable. Businesses are catching on to new trends that appeal to both the business owners and the clients. Giving back to the community is becoming a trend in itself.
One example of this is the sharing economy platform, also known as the peer economy. In the sharing economy, owners rent out something that they are not using, such as a house or a car to a stranger using these peer-to-peer services. These companies typically have a rating or review system so that people on both sides of the transaction can trust the other.
With the popularity of these services, many people are realizing that they don’t need to buy when they can rent from others and save money along the way. Some examples of these companies are sites like Airbnb and RelayRides.
“SHARING ECONOMY COMPANIES LIKE RELAYRIDES AND OTHERS ARE SAVING TRAVELERS MONEY WHILE ALSO PROVIDING AUTHENTIC “LOCAL” EXPERIENCES ON A GLOBAL SCALE.”
Airbnb is an online community marketplace that connects people looking to rent their homes with people who are looking for accommodations. Its’ users include hosts and travelers: hosts list and rent out their unused spaces, and travelers search for and book accommodations in 192 countries worldwide.
According to Airbnb, They provide “a trusted community marketplace for people to list, discover, and book unique accommodations around the world ….”
Similar to Airbnb, RelayRides connects car owners with car-less drivers for a fraction of the price of other car rental companies. All you do is log in to the app, search for cars nearby, and request to rent. The owner will confirm or decline your trip within eight hours, and either meet you at the location of the car, or deliver the car to you!
If you are renting out your car, rest easy, RelayRides covers your car with $1 million in liability insurance and 24/7 roadside assistance throughout the trip, so you can just watch the dollars roll in. Also, never forget to rate and review them in the app to help keep our marketplace strong and honest.
Regardless of what the business is, in the Sharing Economy platform, the rating system is crucial for both hosts and guests to participate in because it fuels the integrity and transparency of this type of economy.