A report recently released by mobile big data platform TalkingData highlights just how huge sharing economy has become. In China alone, the sharing economy market trading volume swelled to 3452 billion yuan in 2016, displaying an impressive year-on-year increase of 103%. This is not only good news to China but also to the world. The emergence of sharing economy has fundamentally shaken the foundation of the global service industry.
What, then, is driving more and more users and investors into throwing money into this thriving economy?
ECR CEO Noah Benjamin has an explanation for this. His opinion is that sharing economy is a new economic model that solves the dual pain point of information asymmetry and high transaction costs, while leveraging modern technology to fully utilize idle resources. What has really pushed its development, though, is rapid advancement in internet and information technology. In this new economic model, anyone and everyone can become a provider of goods and services.
Carsharing is a model of car rental where people rent cars for short periods of time. This is ideal for customers who make only occasional use of a vehicle. Carsharing services are available in over 1,000 cities in several countries, and this peer-to-peer sharing trend is still on the rise. According to the Transportation Sustainability Research Center at U.C. Berkeley, as of December 2012, there were an estimated 1.7 million car-sharing members in 27 countries.
With transformational change looming over the horizon, it is inevitable that car ownership will change. The way people buy and own cars will fundamentally change, especially with technology-savvy millennials taking over, replacing the older generation that is used to internal combustion engines, traditional car dealers, and two cars for a family.
Old school car manufacturers are slowly becoming mobility companies. The past decade has also witnessed the rise of startups like Uber and Lyft, as well as online car-buying sites such as Beepi, Carvana and Carwow.
ECR is an emerging startup that pioneers the car-sharing economic model. The company has introduced a brand-new internet + car sharing business model which aims to create a win-win situation for both sellers and buyers. Consumers can place car purchase orders on its platform and receive commissions and lucrative interests when they collect their cars. Even car dealers who join as partners also stand to enjoy a cut of the profits.
ECR champions a disruptive car purchase experience that allows consumers to buy their dream cars at more affordable prices, while boosting car dealers’ sales. Car-sharing is one of the most valuable components of sharing economy. In the coming decade, we can expect to see more of how it will truly revolutionize the way we move around, and ECR obviously wants to be a big part of it.
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