Keeping Reins on the Sharing Economy: Strategies and Business Models for Incumbents

The sharing economy has grown from a minor phenomenon to a considerable business in its own right. While start-ups have taken the lead in incorporating sharing economy principles in their business models, this article argues that incumbent firms with traditional hardware-based business models also h...

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Bibliographic Details
Published in:Marketing Review St. Gallen 2015-08, Vol.32 (4), p.32-39
Main Authors: Winterhalter, Stephan, Wecht, Christoph H., Krieg, Lukas
Format: Article
Language:English
Subjects:
Business and Management
Business models
Consumption
Cost reduction
Economic trends
Exploitation
Incumbency
Internet
Marketing
Organizational behavior
Schwerpunkt
Sharing economy
Startups
Strategic planning
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Summary:The sharing economy has grown from a minor phenomenon to a considerable business in its own right. While start-ups have taken the lead in incorporating sharing economy principles in their business models, this article argues that incumbent firms with traditional hardware-based business models also have an opportunity to respond to the needs of the sharing economy. Based on a conceptual framework and case examples, this article delineates four strategies traditional incumbents can draw on to keep reins on the sharing economy.
ISSN:1865-6544
1865-7516
DOI:10.1007/s11621-015-0555-z