The sharing economy platform is making a greater way into the various industries and services. The latest technology and rise in millionaire generated has led to the creation of a boom with the sharing economy. This new trend has led in creating the new powerhouses firms and the profits in the market. The new startups are also associated with the sharing economy. But certain rules can be applied to work in the market space. The trend that is seen in internationally also stands truly for any of the countries. Moreover, in a particular country, some of the conditions along with some drivers had made the sharing economy the viable option. Let us discuss that how it will be working in particular region.
Here are some of the options that will tell you regarding working with it in a country-
• Purchasing power- When the purchasing power of a particular person is lesser as compared to another, it will be making sense to opt for rent or pre-own products. For example, a company has the less purchasing power as compared to another. The average salary of an engineer is about 35000 rupees; he has to shell more than its monthly income for buying the play station. If a salary of a person is having $4000 and he has to spend the $400 to buy the play station.
• Higher popular density- If a country is having a population density of 400 per sq.km. While of another country it is 40 per sq.km. This simply means that one is having ten times more population than another. More goods and services are required and available. This helps in enabling the hyperlocal services which are making availability easier and logistic issues too easier in the economy of sharing.
These are some of the points that can lead you in knowing all about how does the sharing economy businesses work in a particular region.