Category: The Sharing Economy Bandwagon

The Sharing Economy Bandwagon

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Hello all, welcome back to my blog! In this week’s topic, I am going to blog about the sharing economy.

  • What is the sharing economy you ask?

According to ACCC, sharing economy is what link customers to people who have goods or services to sell, rent or charter via an online platform.  Uber and Airbnb are the very common two brands that people usually associate it with.

As more and more brands are jumping on to the sharing economy bandwagon in today’s world, there are also other companies that provide similar service besides Uber and Airbnb. For instance, the brand Grab.

  • What is Grab? 

Grab is another example of the sharing economy! Like Uber, Grab is another app-based car with driver services. However, it is only very common in Southeast Asia. While I was travelling in Southeast Asia, Uber and Grab often have what they called a ‘price war’. This ‘price war’ gives us consumers the advantage as it allows the consumers to see which brands can provide the best possible price.

Step by step on how to use Grab

Source: Grab

Grab is now available in 8 countries across Southeast Asia.

Screen Shot 2018-03-30 at 11.04.35 pm.png

Source: Grab Car

Just a few days ago, Grab just announced that it now merges with Uber in Southeast Asia. This is quite a big deal for consumers because then there will be no price war between the two brands. When there is no price war, users will usually have to settle for what price Grab is offering them.

Screen Shot 2018-03-30 at 11.11.16 pm.png

Source: Grab

Screen Shot 2018-03-30 at 11.14.45 pm.png

Source: The Economist

Nevertheless, according to The Economist, Uber will be taking 27.5% stake in Grab in which accounts for $6 Billion dollars. This gives Grab the benefit as this means they are the dominant ride-sharing app in a market of 634 million people.

So my question to you is:

  • Do you think sharing economy is going to dominate the world someday? 
  • How does this sharing economy make you feel? Are you more comfortable with these goods and services that are being provided?

Thank you so much for reading my blog! I look forward to hearing your thoughts right down below in the comment section!

Until then, I’ll see you all next week! (: