Whilst the sharing economy is still relatively new, it is successfully integrating social and economic life to benefit a huge number of users, both financially and through the procurement of services that were once not available. Here, Camplify COO Josh tells why the sharing economy is benefiting so many people.
The sharing economy has grown into an industry of its own. A recent Price Waterhouse Coopers study estimates the current industry to be worth over $15 billion in yearly revenue globally. By the year 2025, it is expected to generate a global revenue of around $325 billion, making it one of the fastest growing categories in any economic market. Sophisticated online systems allow owners and hirers to meet and transact in a safe and efficient space, using technology as the common link between both parties.
“The best thing about the sharing economy is that, if you are the person doing the sharing, you convert a liability into an asset.”
If you are the person being shared with, you get the experience without bearing the burden of ownership.
The key to sharing is a safe environment. This is typically based on a review system. Although eBay is not a sharing economy focused business, it did set a precedent. eBay shows that, with a trusted online platform and a review system, people could build trust, transact globally, and feel safe that the review system would safeguard their transaction.
Airbnb has no doubt been the major trailblazer in the peer to peer or sharing economy platform. The obstacles that Airbnb has managed to overcome during its existance has paved the opportunity for people to share almost anything. Essentially, a major mental shift has occurred.
If I am happy to share a room in my house, or my entire house, why couldn’t I share my car, my caravan, my boat, or anything else of value? Anything that has a high acquisition cost, or provides someone with something they may need or want, can be shared.
I am personally confident that the popularity of sharing big cost items like cars, caravans and boats will only continue to grow. These types of items are costly to buy, own, run, and maintain. The reality is - we don't use these assets all the time. So, making some extra dollars makes a lot of sense, especially regarding supporting ongoing maintenance and running costs. However, as we move into a future of less waste, having a $50,000 caravan killing the grass on the front lawn for 46 weeks of the year just doesn’t make sense.
Airbnb has made it easy for anyone to stay right in the heart of Paris and live like a local. Inspired from this, Camplify
provides the caravan equivalent. Holidaymakers without caravans are no longer restricted to booking a cabin in a caravan park and pretending it is a camping experience. Camplify creates an avenue for hirers to have an authentic experience, and real adventures, with the support and invaluable advice from an expert RV owner.
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If I share my RV, how much can I earn?
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