The access economy is changing the way we do business

Once upon a time when we needed or wanted something, we bought it. Now we can simply access what we need or want when we need it. The access economy isn’t anything new, it’s been slowly creeping into various facets of our lives since the global financial crisis when the frugal mindset was ripe.

Add to that new mindset the rapid development of technology and you have the method and ingredients needed to creatively challenge established modes of serving ones needs.

To “own something” in the traditional sense is becoming less important, because what’s scarce has changed. Technology and the internet enables us to find practically anything we need, at any time. Because of this, the balance between supply and demand is in a state of constant disruption. To understand such shifts, we need to assess what people currently prefer to access in order to predict what they’re likely to access in the future.

Some of the more established access services include music streaming and SVOD services, peer to peer home rental through Airbnb and car-sharing services such as Uber, GoGet and Car Next Door.