The New Sharing Economy

A new sharing-oriented economy is emerging. Imagine a world where we don’t own 90% of the stuff we keep around the house. Sure, we’ll have a TV and toothbrush, but we won’t have a power drill. The average power drill is only used for 20 minutes over its entire lifetime. And that’s just one of hundreds of things we have lying around the house.

We don’t need to own it if we can have instant access to it at all times.

Latitude Research reports that this radical future may become a reality. It’s called collaborative consumption and it is becoming a major force in the way we live our consumer lives.

Hat tip to Garry at Posterous.

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