IndexIntroductionDiscussionConclusionReferencesIntroductionThis review aims to determine what literature is available to examine the intangible social benefits that consumers gain from participating in collaborative consumption. Currently, research mainly investigates the financial benefits that consumers obtain when they engage in collaborative consumption. However, the social aspect of collaborative consumption is as important as the financial one if we want to understand what motivates consumers to take part in collaborative consumption. Therefore, this review will focus on the social aspects of collaborative consumption. There are currently gaps in the literature on intangible social benefits in collaborative consumption. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Collaborative consumption, also known as the sharing economy to some, was still a relatively new idea a few years ago. However, this trend is certainly growing rapidly thanks to technological innovation. It allows people to use inventory by temporarily sharing access to online platforms with others for a fee. Uber and Airbnb are both incredibly successful examples of collaborative consumption. In fact, they also have a negative effect on incumbent companies in the industry. Zervas, Proserpio, and Byers (2017) explore the relationship between Airbnb and hotels in the state of Texas by estimating monthly hotel room revenue as a function of Airbnb's entry into the market. The authors use data collected from Airbnb, monthly hotel room revenue from approximately 3,000 hotels in Texas dating back to 2003, with several other auxiliary datasets to populate controls, Zervas et al. (2017) quantify the extent to which Airbnb's entry into the lodging market negatively affected hotel room revenue. PricewaterhouseCoopers estimates that by 2025, global revenues generated by collaborative consumption in just five areas, including travel, car sharing, finance, personal, and music and video streaming, will increase from $15 billion in 2015 to $335 billion. The form in which we can see collaborative consumption will be a rapidly growing trend in the coming years. Understanding the intangible social benefits that consumers might gain from participating in collaborative consumption is important. There are many reasons why collaborative consumption is growing so rapidly. Marketers need to take note of what else, beyond the obvious financial benefits, drives consumers to engage in collaborative consumption. This way, marketers will know the wants and needs of consumers in order to create a detailed marketing message to reach consumers. With the knowledge, it will enable marketers to create an effective marketing plan for companies and their products. It is also important for dominant companies to understand what will influence the consumer's purchasing decision. It allows them to adapt to the changes in this rapidly growing trend and adapt to provide something that collaborative consumption companies could not provide to consumers in order not to lose their market share. Discussion In 2011, Time Magazine used the headline “Today's Smart Choice”: Don't Own. Share” to introduce the reader to the concept of collaborative consumption which includes renting, lending and sharing goods, claiming that it is one of the “10 ideas that will change the world” (Albinsson & Perera, 2012). Hamari, Sjöklint and Ukkonen (2016) stated that “the sharing economy is a phenomenonemerging economic-technological development fueled by developments in information and communication technologies (ICT), growing consumer awareness, the proliferation of collaborative web communities as well as social commerce or sharing”. Zalega (2018) stated that the main advantages of collaborative consumption are as follows: saving money, time and space, increasing the number of friends and acquaintances, strengthening bonds and social relationships, reducing environmental degradation, minimizing waste and surpluses generated by overproduction and excessive consumption and using assets more efficiently and deliberately. Cova (1997) conceptualizes social ties within postmodern communities as “more important as the thing,” meaning that consumers value the social aspect of a good or service more than the good or service itself. Milanova and Maas (2017) noted that belonging to a community is valuable to market participants because communities create social bonds between members and influence their consumption choices. Albinsson and Yasanthi (2012) obtained similar results indicating a consumer-driven desire to effect social change while promoting personal and community well-being through participation in alternative markets. The authors further indicated that the value nexus has expanded to include not only goods and services but also interactions between individuals who participate in giving and receiving. Aknin (2013) further noted that “hedonic value is also experienced in prosocial behaviors. Consumers experience emotional rewards from spending that promotes positive social connections. Therefore, social community interaction in accessing collaborative consumption services may be an important factor for consumers to engage in good deed practices” (Hwang & Griffiths, 2017). The common result of these searches is that consumers are looking for more than the goods or services themselves. In particular, they value the emotional rewards of creating interactions with other individuals and believe this is an important benefit of collaborative consumption. Barnes and Mattsson (2016) noted that most studies show that financial benefit is a key motivation for consumers to engage in these platforms, however this is usually only for monetized platforms, rather than non-monetized ones. Fraanje and Spaargaren (2019) argue that Peerby's conventional practice is the “social promise” of collaborative consumption as stimulating social interactions between people. The authors agree that this gives rise to a new form of “neighborhood”, mixing online and offline elements. Botsman and Rogers (2010) highlighted the need to connect with like-minded people and argue that this need enables collaborative consumption. They also stated that a sense of community drives participation in non-monetary sharing markets. Benoit, Baker, Bolton, Gruber, and Kandampully (2017) also highlighted that intangible social benefits can serve as a motivator for peer providers with underutilized resources, meaning that peer providers may appreciate the opportunity to get to know travelers from all over the world. world and/or support them in learning about the country or city of residence. Habibi, Kim, and Laroche (2016) agree that in some contexts (e.g., couchsurfing and toy bookstores) social utility has proven to be an important driver of the use of collaborative consumption. The authors used Couchsurfing users as an example, who expressed sharing-based motivations for using collaborative consumption, such asexample a strong presence of social ties and relationships between users such as the extraction of a "free accommodation" that would allow users to experience benefits such as traveling around the world with minimal economic investments while continuing to experience other intangible social benefits (e.g., “ meet new people"). Barnes and Mattsson (2016) used Airbnb as an example. The authors pointed out that Airbnb intended to build a global community of people sharing home space (from air mattresses to caves, treehouses and castles) in a way that would make people feel like they "belonged anywhere," which is the new slogan of the brand. They also noted that both the space of the accommodation and the cultural impact associated with it can be as much the reason for the visit as the destination of the city or country. Barnes and Mattsson (2016) further stated that by increasing the number of hosts renting rooms in both central and peripheral urban areas, Airbnb will be able to "unlock new neighborhoods and stimulate small businesses there" (such as restaurants and outdoor shops corner). In this way, personal connections will be created through bonds between guests and hosts which have led to the rapid growth of a global community. Collaborative consumption represents an opportunity to build sustainable economic, social and human development in an environmentally friendly way. The key issue is to connect people who need a resource with others who have these resources. This relationship is based on the sense of community, sharing and participation between users, where trust is the bond that allows us to establish connections, develop an alternative form of consumption and, in the long term, maintain the relationships that are created (Montes, Sanchez , Villar and Herrera, 2018). Barnes and Mattsson (2017) developed a theoretical model based on a comprehensive set of potential consumer motivations by conducting a survey of 745 participants. The researchers identified a total of twelve distinct consumer motivations as significant, the five most important factors and prerequisites of platform usage intentions being financial benefits, trust in other users, modern lifestyle, effort expectancy and ecological sustainability . On the other hand, motivations such as product variety and availability, concerns about process risks, independence through ownership, and trust in other users have so far garnered much less attention as drivers, impediments, and requirements for sharing. peer to peer. Mittendorf (2018) hypothesizes that trust influences achievers' intentions to perform certain actions on the online platform. Wiertz and de Ruyter (2007) propose that “the companies that own and operate such online platforms do not control the actual sharing at all. Development is instead driven by social dynamics, such as community enjoyment and self-marketing” (Hamari, Sjöklint & Ukkonen, 2016). Bae and Koo (2018) stated that digital platforms provide collaborative consumption with such transactional networks, used to coordinate and facilitate sharing activities between strangers by accelerating connections. This may explain why collaborative consumption is able to take off among the Millennial generation, because as previous research stated that “Millennials are motivated to influence dominant industries and organizations, foster social connections, pursue open communication and frequent with friends and business partners and feel at ease.” with communication technologies". A study conducted by The Nielsen Company (2014) on the millennial generation found the following characteristics that themdifferentiate from other generations: millennials are (a) diverse, expressive and optimistic; (b) bring a social movement back to cities; (c) in difficulty, but expressing an entrepreneurial spirit; (d) do business with buyers who desire authenticity; and (e) connected and seeking a personal touch. The common finding among these studies is that the Millennial generation favors and seeks social connections. Collaborative consumption allows consumers to create personal connections when engaging in this type of consumption since it is an activity based on peer-to-peer access. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom EssayConclusionIn conclusion, the objective was to review the literature on social aspects when consumers engage in collaborative consumption with a focus on intangible social benefits. In the literature examined, consumers attribute the same importance to the social aspect as the financial aspect, if not more. Consumers build trust, relationships, and a sense of belonging with others when they participate in collaborative consumption. It also demonstrates that they appreciate these benefits and motivate consumers to take part in collaborative consumption. This means marketers and companies need to pay attention to these findings and try to provide as many social benefits to consumers as possible. Because consumers are looking for more than just having good quality products or services and financial benefits. For example, companies can create online forums as a platform where their consumers can find like-minded people with similar interests. There are currently gaps in the literature regarding the examination of the intangible social benefits of collaborative consumption. Future research should examine how different consumer segments value intangible social benefits differently in both collaborative consumption and the traditional consumption model. ReferencesAlbinsson, P. A., & Perera, BY (2012). Alternative markets in the 21st century: Building communities through sharing events. Journal of Consumer Behavior, 11, 303-315. doi:10.1002/cb.1389Bae, J. and Koo, D.M.. (2018). Lemons problem in collaborative consumption platforms: Different decision-making heuristics chosen by consumers with different cognitive styles. Internet Research, 28(3), 746-766. https://doi.org/10.1108/IntR-08-2017-0332Barnes, S. J., & Mattsson, J. (2016). Building tribal communities in the collaborative economy: An innovation framework. Prometheus, 34(2), 95-113. doi: 10.1080/08109028.2017.1279875 Barnes, S. J., & Mattsson, J. (2016). Understanding current and future issues of collaborative consumption: A four-phase Delphi study. Technological Forecasting and Social Change, 104, 200-211. https://doi.org/10.1016/j.techfore.2016.01.006Barnes, S. J., & Mattsson, J. (2017). Understanding collaborative consumption: Testing a theoretical model. Technological Forecasting and Social Change, 118, 281-292. https://doi.org/10.1016/j.techfore.2017.02.029Benoit, S., Baker, T.L., Bolton, R.N., Gruber, T., & Kandampully, J. (2017). A triadic framework for collaborative consumption (CC): actors' motivations, activities, resources and capabilities. Journal of Business Research, 79, 219-227. ttps://doi.org/10.1016/j.jbusres.2017.05.004Fraanje, W., & Spaargaren, G. (2019). What future for collaborative consumption? A practical theoretical account. Journal of Cleaner Production, 208, 499-508. https://doi.org/10.1016/j.jclepro.2018.09.197Habibi, M. R., Kim, A., & Laroche, M. (2016). From sharing to exchange: An extended framework of dual modes of collaborative consumption without ownership. 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