Towards a Renting Economy: Change in Consumer Behavior Amongst Younger Consumers
No Thumbnail Available
Files
Date
2021
Authors
Journal Title
Journal ISSN
Volume Title
Company
URL
Shelf Location
Date
Abstract
Providing consumer with access instead of ownership is becoming an increasingly popular business model. Businesses are starting to see this as a new way of capitalizing on their products. The change in consumer behavior and a growing amount of new business providing these types of services are powering the movement. However, little research has examined younger consumers regarding renting as a mode of consumption. This research focuses on the change in consumer behavior amongst younger consumers. Investigating who and why younger consumers are engaging in the renting economy. Primary data has been collected through a survey. 80,4% Of the survey contestants are from Norway, and 88,8% were between 18-24 years old. Results show that 90,7% of the survey participants think non-ownership modes of consumption can stimulate personal consumption needs. "Economic reasons", "convenience" and "only need the product once" is the main reasons for renting consumer goods. 85% think they will use more renting services in the future. The participants show positive attitudes towards renting as a mode of consumption