What does it mean? Definition and info
The term sharing economy - also known as the shared economy or share economy - describes practices in which fully or partially unused resources of various kinds are shared by several people or institutions. Literally translated into German, sharing economy also means "economy of sharing".
There is no exact definition of the sharing economy. Rather, the term is interpreted in different ways by different protagonists. Basically, this method of economic activity combines communities, specific business models and online and offline platforms that enable users or members to share and thus use goods and commodities, services or information. The focus is not on ownership, but on use.
Longer service life and conservation of resources
A classic example to show the advantages of the sharing economy is the story with the drill. Almost every German household owns such a tool. However, it is only used for half an hour per year at most. If it is not used, it could be lent to other people for free or for a small fee, or it could be exchanged for another tool, such as a jigsaw.
As a result, goods would be used for much longer. This in turn helps to conserve the resources needed for the production of countless drilling machines. Basically, this principle of the "sharing economy" can be applied to many areas and industries.
Examples of Sharing Economy projects
In the services segment within the sharing economy, there have been car sharing and bike sharing companies for years, especially in the big cities and conurbations, whose vehicles are driven by numerous people.
The increasing success of the sharing economy is not least due to digital developments, especially the widespread use of mobile devices such as the ubiquitous smartphones and the large variety of corresponding apps that allow users to communicate quickly.