The sharing economy
Do the preparation task first. Then read the text and do the exercises.
Preparation
If we look around us at the things we have purchased at some point in our lives, we would no doubt notice that not everything we own is being put to good use: the thick woollen coat which we thought looked trendy despite the fact that we live in a tropical country, the smartphone that got put away when we bought ourselves the newest model, the car that only gets used at the weekends, or even the guest room in our house that somehow got turned into a storeroom.
Those underutilised items may seem useless to some, but could be an asset to others. With the advent of the internet, online communities have figured out a way to generate profit from the sharing of those underused assets. Using websites and social media groups that facilitate the buying and selling of second-hand goods, it is now easier than ever for peer-to-peer sharing activities to take place. And this is known as the sharing economy.
These democratised online platforms are providing a chance for people to make a quick buck or two. To give an example, busy parents previously might not have bothered with setting up a stall at the local market or car boot sale to sell their children's old equipment, but with online marketplaces, parents are now able to sell on those hardly worn baby clothes that their children have outgrown and the expensive pushchairs and baby equipment they have invested in, so as to put some cash back into their pockets.
Businesses have also caught on to the profitability of the sharing economy and are seeking to gain from making use of those underutilised resources. A business model that has rapidly risen in popularity sees companies providing an online platform that puts customers in contact with those who can provide a particular product or service. Companies like Airbnb act as a middleman for people to cash in on their unused rooms and houses and let them out as lucrative accommodation. Another example is Uber, which encourages people to use their own personal cars as taxis to make some extra cash in their free time.
This move towards a sharing economy is not without criticisms. Unlike businesses, unregulated individuals do not have to follow certain regulations and this can lead to poorer and inconsistent quality of goods and services and a higher risk of fraud. Nevertheless, in the consumerist society we live in today, the increased opportunities to sell on our unwanted and underused goods can lead to a lesser impact on our environment.
Do you participate in the sharing economy?
I periodically bring my unused gowns in good condition to a charity, which distribute them to needy people.
Currently, I'm considering putting my underutilized apartment on rent for a few months and gaining extra cash from it.
The sharing economy shows how technology can transform unused possessions into valuable resources. I find it interesting that while it offers people a way to save money and reduce waste, it also raises questions about regulation and trust. In my opinion, its biggest benefit is promoting sustainability by giving a second life to things we no longer use.
Do you participate in the sharing economy?
I have participated in sharing economy yet. As a consumerist, sometimes I purchase a lot of unnecessary things, especially clothes. If I have a chance, I would like to sell these unwanted and underutilized items on online platforms for others, which can lead to a lesser impact on the environment. I believe that things may seem unless to us but could be an asset to others.
Yes I do, It would be great to share my experience with participating in the sharing economy, which I have been acting as a consumerist, I mean I am a buyer, despite the existence of several platforms, I used to buy from two of them. Their things are in good condition, acceptable quality, so I am always satisfied with the sharing economy platforms .
I think I have participated in the sharing economy in a few ways ,such as selling my old phone to my friend and bought my secondhand TV using a local app.
Version reviewed and reformulate by AI.
Do you participate in the sharing economy?
Currently, I do not participate in any aspect of the sharing economy, as it is still a relatively new concept for me. I continue to follow traditional methods when it comes to purchasing goods or accessing services. The only modern practice I have adopted is using the internet and social media to research what the market offers in terms of products, services, and prices when I need them.
However, the rise of the internet and social media has significantly transformed our consumption habits and stereotypes, giving birth to new concepts and practices such as the sharing economy. The sharing economy, also known as collaborative consumption or peer-to-peer-based sharing, is an economic model where individuals share access to goods, services, or resources, often facilitated by digital platforms. This model leverages technology to enable people to rent, borrow, or share underutilized assets, such as homes, cars, tools, or even skills.
I believe this economic model will continue to expand globally due to its numerous advantages. For example, it promotes resource efficiency, fosters innovation, and provides flexible, cost-effective solutions for consumers. At the same time, it presents challenges related to regulation, labor rights, and competition with traditional industries. Despite these challenges, the sharing economy represents a significant shift in how we think about ownership and consumption in the modern world.
Yes, I do.
In general, when I want to buy an article, firstly I search this on internet, so I can know all its characteristics and price, later I search the same product on different apps where people sell second hand products.
In my opinion, it’s relevant that a second hand product has the same quality as a new article; certainly, for me some physical defect it’s tolerated in the second hand object, due to the reason that it sometimes has been used.
Yes, I do. I enjoy selling things online through second-hand platforms. I've been quite active on these platforms since last year. I sold my treadmill and bicycle, which were some of my biggest purchases. Additionally, I've been selling my old textbooks.
Yes, or at least I think I do when I buy used goods that I need, and I never buy anything that I don’t going to use in the short time, once I realiced I’m not going to use something anymore I put it online to sell it. I try not to own things that I know for sure I never going to use, instead of having them I sell them or give it to someone else like a friend or a relative whom might need it.
Thanks for the lesson.
Great site!