Online share communities becoming popular

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Market research company Nielsen have released results of a global survey highlighting a growing trend across the online shopping market, and one which New Zealanders in particular appear to be taking advantage of - online shared communities.

In a shared community, consumers rent or share their personal items, including furniture, clothing, vehicles and houses or services for a fee. Revenue gained by consumers in this area is expected to surpass $3.5 billion this year, an increase of 25 per cent on last year. According to Neilson president of strategic initiatives John Burbank, share communities are becoming much more popular.

"Share communities have given rise to an economic revolution that is having an impact," said Burbank. "There is now an established comfort level that has opened the door for sharing personal property via the internet that may have seemed unfathomable even a few short years ago."

According to the survey, 68 per cent of global online consumers were willing to share or rent their personal items via shared communities. This figure rises to 78 per cent in Asia-Pacific respondents - the highest percentage in the study.

Nielsen's surveyed more than 30,000 internet respondents across sixty countries. Burbank said the trend showed how quickly growth in a sector could alter shopping patterns.

"While the internet still has limited reach in many parts of the world, the comparatively high willingness of online consumers in developing regions to participate in share communities demonstrates how the web can quickly become part of the culture," said Burbank.

Items respondents were most willing to rent out ranged from electronic devices and power tools through to clothing, sports equipment and vehicles, with a further 26 per cent of respondents willing to rent lessons or services online. According to Burbank, share communities can add value to existing businesses rather than taking away from it.

"While share communities may add another link to the value chain, it need not disrupt existing businesses," said Burbank. "Companies can leverage the learnings to transform their customers into valued partners and consider how sharing can become an integral part of their business process."