More and more people are shifting away from owning stuff in favor of paying for quick access
to what they need just when they need it. It’s called the sharing economy, and it’s huge.
If you can name it, you can probably rent it
The sharing economy is exploding as it takes over the market
in dollars year to date
in dollars, 2013
Rent the Runway
We’ve been hit with a perfect storm of factors
The growth and prevalence of new mobile devices means people can make on the fly market transactions.
People who make
The recent economic crisis and high unemployment mean people are looking for alternative money-making opportunities.
Difficult economic times have shifted expectations of traditional icons of success, like home or car ownership.
New cars bought
Hard times mean people want to both save and make extra cash
in dollars per year
Turns out, people love helping people
“Just browsing the
customer photos on @RentTheRunway–can’t even explain how much I LOVE that feature!!!” #sosmart #thebest
“I like to consider myself the ultimate “lyfter”. The drivers are amazing; in fact, I haven't come across one I didn't become best friends with by the end of my ride.”
“Tim was super friendly and a pleasure to work with. The furniture came out great, and he finished quickly! We even had time to talk about comics. Thanks, Tim!”
“[We exchanged with two families] and while talking about different places, we discovered we knew each other and had done business together. It’s a small world!”
As innovators, the sharing economy brings up several important questions that we’re keeping an eye on: