You have probably heard of the sharing economy, i.e. all those activities that involve the exchange of goods and services between people. But what exactly characterises this model, and how can it be put into practice in the digital age?

Before the collaborative economy became a trend, its consumption was limited to the closest circle. Everything stayed at home, it was almost on a family scale. However, thanks to the Internet, it is possible to connect with people from all over the world with common interests. The digitalisation of society and the economic crisis have favoured the development of new business models and new forms of consumption.

The collaborative economy has several advantages. Firstly, it allows us to optimise resources, as we can make our products more useful. In addition, it also offers the end consumer greater variety. It is also a good model for making savings, because customers can buy second-hand goods and services at a lower price than the market price. All of this generates an ecosystem based on commitment, solidarity, and the generation of ideas, often from entrepreneurs with new businesses, which generate employment, wealth, and innovation.

On the other hand, it should also be borne in mind that the collaborative economy, being a model between individuals, doesn’t have a legally regulated market and competition is quite unfair. For this reason, it is a sector that gives rise to complaints and protests from the sectors affected, which can leave consumers unprotected.

Collaborative economy, a range of possibilities

Within this collaborative economy model, which is also typically referred to as the “sharing economy”, there are many types, with different functions, varying according to needs and products. There are, for example, collaborative consumption companies, which use digital platforms through which users contact each other to exchange goods or items, such as collaborative transport, collaborative accommodation and collaborative second-hand trade, among others.

There are also open knowledge companies, all those that promote the dissemination of knowledge without legal or administrative barriers. They can be presented on a day-to-day basis through computer platforms to which users with needs come. There is also the collaborative production model, digital interaction networks that promote the dissemination of projects or services of all kinds. The difference with the two previous models is that what is offered is also produced within these platforms.

Finally, there are the crowdfunding initiatives. Microcredits, loans, savings, donations, and financing channels are included in this subgroup, where users contact each other to cover needs in any of these aspects. The best example is crowdfunding platforms, a funding model for those who wish to donate to specific initiatives.

The four characteristics of the model

Despite the heterogeneity of the companies and industries that fall within this model, sharing economy companies can be described by four characteristics:

1. They employ information technologies (ICT), available through web-based platforms such as mobile “apps” on internet-enabled devices, to facilitate transactions between two parties.
   
2. They rely on user-based rating systems for quality control, ensuring a level of trust between consumers and service providers that did not exist before.
3. They offer flexibility to workers because this team often delivers its services through digital matching platforms.
4. The team has its own tools. To the extent that tools and assets are necessary to deliver a service, digital matching companies rely on workers to use their own.

In short, the collaborative economy model can help our companies grow, because it allows consumers to save money, because it is committed to sustainable development, because it promotes a new management of resources, because there is more choice and because, in the end, all of this brings environmental benefits.

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