Types of Collaborative Consumption
Author: Anindhitha Maniath
Collaborative consumption is an effective approach to fulfil our consumption requirements without wasting resources. Collaborative consumption and the sharing economy are influencing more and more sections of society day by day. This article talks about the three main systems of collaborative consumption.
Consumers can pay for just the use of a product whenever they require it. They need not own the product. Products that we require only for one time usage/ short period of time need not be purchased, rather they can be rented/shared. By doing this, we save money by not purchasing a good that won’t be used much.
In this system, goods that are no longer wanted by the owner are passed on to someone who wants the good. It’s similar to the reusing method of managing goods. It’s basically a reallocation of ownership. This ensures that goods are not wasted and are made optimum usage of.
Under this system, consumers can engage in the sharing of resources like skills, knowledge etc. It focuses on the exchange of intangible resources. Skills sharing like hiring of freelancers for example, is beneficial to businesses with the motive to save money.