How Intangible Rewards Encourage Consumers
Engage in Collaborative Consumption
Introduction
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
This review is aimed to determine what literature is available for examining intangible social
benefits that consumers gain from participating in collaborative consumption. Currently
research mainly investigates the financial benefits consumers get when engaging in
collaborative consumption. However, the social aspect of collaborative consumption is as
important as the financial aspect if we want to understand what motivates consumers to take
part in collaborative consumption. Therefore, this review will | focus on the social aspects of
collaborative consumption. There are currently gaps within literature on intangible social
benefits in collaborative consumption.
Collaborative consumption, also as known as sharing economy to some was still a relatively
new idea to most a few years ago. However, this trend is certainly rising fast thanks to
technology innovation. It enables people to utilize inventory by sharing access temporarily on
online platforms to others for a fee. Uber, Airbnb are both incredibly successful examples of
collaborative consumption. In fact, they even have negative effect on incumbent firms in the
industry. Zervas, Proserpio and Byers (2017) explores the relationship between Airbnb and
hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb
entry in the market. The authors use the data collected from Airbnb, monthly hotel room
revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other
auxiliary data sets to compile controls, Zervas et al. (2017) quantify the extent to which
Airbnb's entry to the accommodation market has negatively affected hotel room revenue.
PricewaterhouseCoopers estimates that by 2025 the global revenues that generate from
collaborative consumption in just five areas which include travel, car sharing, finance, staffing,
and music and video streaming will have increased from $15 billion in 2015 to $335 billion.
Form that we can see collaborative consumption will continuously be a rapidly growing trend
in the coming years.
Understanding the intangible social benefits consumers could gain from participating in
collaborative consumption is important. There are many reasons why collaborative
consumption is growing so fast. Marketers need to take notes on what else besides the obvious
financial benefits drives consumers to engaging in collaborative consumption. In that way,
marketers will know consumers' wants and needs in order to craft a detailed marketing message
to reach to the consumers. With the knowledge, it will enable marketers to create the effective
marketing plan for firms and their products. It is also important for the incumbent firms to
understand what will influence a consumer's decision of purchase. It allows them to adopt to
the changes in this fast-growing trend and adjust themselves to provide something collaborative
consumption firms couldn't provide to consumers in order not to lose their market share.
Discussion
In 2011, Time Magazine using the headline "Today's smart choice: Don't own. Share" to
introduce reader the concept of collaborative consumption which includes renting, lending, and
sharing of goods, claiming it is one of the "10 ideas that will change the world" (Albinsson &
Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that "the sharing economy is an
emerging economic-technological phenomenon that is fueled by developments in information
and communications technology (ICT), growing consumer awareness, proliferation of
collaborative web communities as well as social commerce or sharing*-
Zalega (2018) stated that the key advantages of collaborative consumption are as following:
saving money, time and space, increasing the number of friends and acquaintances,
strengthening social ties and relationships, reducing environmental degradation, minimizing
waste and surpluses that are generated through overproduction and overconsumption, and using
goods in a more efficient and deliberate manner. Cova (1997) conceptualizes social links within
postmodern communities as "more important as the thing* which means that consumers value
more the social aspect of a good or service instead of the good or service itself. Milanova and
Maas (2017) noted that community membership is valuable for marketplace participants
because communities create social links between members and influence their consumption
choices. Albinsson and Yasanthi (2012) had similar findings which indicate a consumer-driven
desire to enact social change while fostering personal and community well-being through
participation in alternative marketplace. The authors further indicated that the nexus of value
has expanded to include not only the goods and services but also the interactions between the
individuals who participate in the giving and receiving. Akin (2013) also noted that *hedonic
value is also experienced with prosocial behaviors. Consumers experience emotional rewards
from spending that promotes positive social connections. Therefore, the social community
interaction in accessing collaborative consumption services may be an important factor for
consumers in engaging in good-deed practices" (Hwang & Griffiths, 2017). The common
finding among these researches is that consumers do look for more than the goods or the
services themselves. Especially they value the emotional rewards from building interactions
with other individuals and they see this is an important advantage of collaborative
consumption.
Barnes and Mattsson (2016) noted that most studies show financial benefit as a key motivation
for consumers to engage in these platforms however this is usually only for the monetized
platforms, rather than those that are non-monetized. Fraanje and Spaargaren (2019)
underpinned the conventional Peerby practice is the 'social promise of collaborative
consumption as a stimulant to social interactions among people. The authors agreed that it gives
rise to a new form of 'neighbourliness, mixing online and offline elements. Botsman and Rogers
(2010) emphasized the need to connect to like-minded people and argue that this need enables
collaborative consumption. They further stated that the sense of community drives participation
in non-monetary sharing marketplaces. Benoit, Baker, Bolton, Gruber and Kandampully (2017)
also pointed out that the intangible social benefits may act as a motivator for peer providers
with underutilized assets in the sense that peer providers may value the opportunity to get to
know travellers from around the world and/or support them in getting to know the local country
or city of residence. Habibi, Kim and Laroche (2016) agreed that in some contexts (e.g,
couchsurfing and toy libraries) social utility has been found to be an important driver of
collaborative consumption use. The authors used Couchsurfing users as an example, who
expressed sharing-based motives for collaborative consumption use, such as a strong presence
of bonding and social relations between users like the draw of "free accommodation" would
allow users to experience benefits such as traveling the world with minimal economic
investments while still experiencing other intangible social benefits (e.g, "meeting new
people*). Barnes and Mattsson (2016) used Airbb as an example. The authors pointed out that
Airbnb intended to build a global community of people sharing home space (from air
mattresses to caves, tree houses and castles) so as to make people feel like they 'belong
anywhere which is the new slogan of the brand. They also noted that both the accommodation
space and its associated cultural impact may be as much the reason for visiting as the city or
country destination. Barnes and Mattsson (2016) further stated that by increasing the number
of hosts renting rooms in both central and peripheral urban areas, Airb will be able to unlock
new neighbourhoods and boost small businesses there' (such as restaurants and corner shops).
In this way, personal connections will be created through links between guests and hosts have
led to the rapid growth of a global community.
Collaborative consumption represents an opportunity to build sustainable economic, social and
human development in an environmentally-friendly way. The key issue is linking people who
need a resource with others that have these resources. This relationship is based on a sense of
community, sharing and participation among users, where trust is the link making possible to
establish connections, develop an alternative form of consumption and, over the long term,
maintain the relationships that are created (Montes, Sanchez, Villar, & Herrera, 2018). Barnes
and Mattsson (2017) developed a theoretical model that based on a comprehensive set of
potential consumer motives by conducting a survey among 745 participants. Researchers
identified a total of twelve distinct consumer motives as significant, the five most important
drivers and prerequisites of platform usage intentions are as the following financial benefits,
trust in other users, modern lifestyle, effort expectancy, and ecological sustainability. On the
other side, motives such as product variety and availability, process risk concerns,
independence through ownership, and trust in other users have thus far garnered much less
attention as drivers, impediments, and requirements for peer-to-peer sharing. Mittendorf (2018)
hypothesize that trust influences the obtainers intentions to perform certain actions on the
online platform.
Wiertz and de Ruyter (2007) propose that "firms that own and operate such online platforms
do not control the actual sharing at all. Instead, the development is led by social dynamics, such
as enjoyment and self-marketing of a community" (Hamari, Sjöklint & Ukkonen, 2016). Bae
and Koo 2018) stated that digital platforms provide collaborative consumption with such
transactional networks, used to coordinate and facilitate sharing activities among strangers by
accelerating connections. It could explain why collaborative consumption is able to take off
among the millennial generation, because as prior research stated that "Millennials are
motivated to influence incumbent industries and organizations, favor social connections,
pursue open and frequent communication with friends and business partners and are
comfortable with communication technologies". A study conducted by The Nielsen Company
(2014) on the millennial generation found the following characteristics that differentiate them
from other generations: millennials are (a) diverse, expressive, and optimistic; (b) driving a
social movement back to the cities; (c) struggling, but expressing an entrepreneurial spirit; (d)
deal shoppers who desire authenticity; and (e) connected and seeking a personal touch. The
common finding among these study is that the Millennial generation favors and seeks social
connections. Collaborative consumption allows consumers to build personal connections when
they are engaging in this kind of consumption as it is a peer-to-peer access based activity.
Conclusion In conclusion, the aim was to review literature on the social aspects when
consumers are engaging in collaborative consumption with a focus on intangible social
benefits. The literature reviewed consumers value the social aspect as important as the financial
aspect if not more. Consumers build trust, relationships and a sense of belonging with others
when they are participating in collaborative consumption. It also shows that they value these
benefits and they motivate consumers to partaking in collaborative consumption. This means
marketers and firms have to pay attention to these findings and try to provide as much social
benefits to consumers as they can. Because consumers look for more than just having a good
quality products or services and financial benefits. For example, firms can create online forum
as a platform for their consumers to find like-minded people with similar interests. Currently
there are gaps within the literature for examining the intangible social benefits of collaborative
consumption. Future research should look into investigating how different segments of
consumers value the intangible social benefits differently in both collaborative consumption
and the traditional model of consumption.
