Competing With the Sharing Economy: Overcoming the Challenges Faced by “Traditional” Providers
DOI:
https://doi.org/10.33423/jabe.v22i12.3886Keywords:
business, economics, sharing economy, collaborative consumption, peer providersAbstract
Consumer participation has made the sharing economy an economic wonder, creating valid competition for traditional service providers. Using the self-determination theory, we examine why both consumers and peer-providers engage in the sharing economy. Two common themes emerge: convenience and personalization. We examine ways in which traditional providers can embrace these themes. Three areas of consumer-focused marketing where traditional providers can increase efforts to decrease erosion are app abilities; niche markets; and consumer-desired amenities. Two areas of employee-focused marketing where traditional providers can increase efforts to decrease erosion are flexible hours and environments, and employee appreciation and rewards.
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Published
2020-12-16
How to Cite
Mellon, A., & Connell, J. (2020). Competing With the Sharing Economy: Overcoming the Challenges Faced by “Traditional” Providers. Journal of Applied Business and Economics, 22(12). https://doi.org/10.33423/jabe.v22i12.3886
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