An investigation into the budding sharing economy in an emerging market

In recent times, largely as a result of advancements in information technology and changing consumer needs, traditional methods of doing business are being challenged by the emergence of software platforms that enable individuals to share goods and services at a given cost. Collaborative consumption also referred to as shared economy, entails individuals offering or renting underutilized assets or services to other individuals usually at a specified price. Enabled by the internet, it is now possible for these assets and services to be disaggregated as peer-to-peer services. The collaborative economy has increasingly grown in recent years to become an integral part of modern society where millions of consumers are utilizing it worldwide. It has raked in billions of dollars in revenue worldwide and is expected to grow substantially. Sharing economy companies such as Uber and Airbnb have grown enough to pose a threat to traditional business models. The purpose of this paper is to investigate the shared economy practices as well the concerns it has brought about. In emerging markets the sharing economy for instance seen to have a higher potential in revenue generation though there has been little study conducted. This may prompt further research in investigating the emerging market potential in exploiting the sharing economy in terms of revenue generation while addressing its concerns.