The Pew Research Center has published a report on the sharing economy – that sector of tech fueled commerce and services that more and more individuals use. Entitled “Shared, Collaborative, and On Demand: The New Digital Economy,” the research by Pew states the shared economy is “weaving their way” into more lives disrupting established businesses and causing consternation for regulators along wit the way.
Pew surveyed 4,787 adults in the US. According to their research 72% of American’s have used at least one service that qualifies for the sharing economy. Approximately one in five has used four or more services, and 7% have used six or more. About 28% have never used any shared service. Utilization is skewed towards a younger, wealthier demographic. If you are highly educated and under 45, you are clearly more likely to use UBER or AirBnB. But Pew also points out some contrasting data points:
- 61% of Americans have never heard of the term “crowdfunding.”
- 73% are not familiar with the term “sharing economy.”
- 89% are not familiar with the term “gig economy.”
The above numbers are perhaps indicative of the relative disinterest in terminology and more on the convenience of the service provided.
While 15% of the people surveyed have used an UBER or Lyft type service, 51% are aware of the ride-hailing platforms and 33% have never heard of either provider.
As for crowdfunding, Pew focuses on the rewards / donations iterations. They state that 22% of Americans have contributed to an online platform with most kicking in a small amount of money and the majority going to help someone in need.
“The sharing economy has been the subject of much ongoing debate, but these services are impacting consumers to widely varying degrees,” stated Aaron Smith, associate director at Pew Research Center and author of the study. “Some Americans have deeply integrated these platforms into their day-to-day lives – but a larger number exist on the fringes of the sharing and on-demand economy.”
The report by Pew is said to be the first in a series that will do a deeper dive into; ride-hailing, home sharing, and crowdfunding platforms.
The report is embedded below.
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