Market Research in the Sharing Economy

The Need for Research

The Sharing Economy has emerged from the digital revolution.  These business models directly match resources to customer needs, often in real time.  Many have become efficient marketplaces that maximize customer value, minimize pain points, and impact life for millions of consumers.

Some powerful examples of growth in the Sharing Economy:

  • Car Sharing  (e.g. Turo, Crooze, Wheelz, etc.)
  • Home Sharing (e.g. Airbnb)
  • Ride Sharing (e.g. Uber, Lyft, etc.)
  • Office Sharing and Co-Working (e.g. WeWork)

These game-changing business models exist in highly competitive markets. While they have access to large amounts of data, insight remains elusive.

Opportunities & Challenges for Sharing Economy Businesses

New and disruptive business models require insight to launch, grow, and evolve.  Meeting customer needs can be a continual opportunity and challenge.  Several opportunities and challenges face Sharing Economy companies:

  • Pricing constraints, new subscription-based revenue models, and tiered pricing are important trends impacting profitability.
  • Market positioning and competitive research are important.  Gaining insights into keywords, website usability,  SEO, sales insights, and digital strategy can be a challenge.
  • Achieving critical mass and scaling up rapidly is important because customers need a varied and curated supply in order to demand the product.  Engaging new customers is important and depends on having enough supply to meet demand.
  • Recruiting and retaining suppliers is also important in and related to critical mass.  For example, having ride sharing suppliers available at the airport is important.
  • The rise of Omni-channel presents opportunities and challenges.

Solutions for the Sharing Economy

Research helps Sharing Economy companies address their strategic opportunities and challenges:

Business Challenges

SIS Solutions

Funding and Running Out of Cash
  • Strategic Market Assessment
  • Market Opportunity Research
  • Market Entry Planning
Achieving and Maintaining Relevance
  • Branding Research
  • UX & Website Usability Research
  • Voice of the Customer Research
  • Segmentation Research
  • New Product Development Research
  • Product Testing
  • SIS Sales Strategies
  • Ethnographic Research
Achieving “Critical Mass” and “Network Effects”
  • Competitive Intelligence
  • Customer Needs Gap Analysis
  • Strategic Analysis

Higher-than-Expected Operating Costs

  • Paying Suppliers or Contractors
  • Inability to Scale Quickly
  • Competitive Intelligence:
  • Employee & Supplier interviews
  • Focus Groups
  • Mystery Shopping

Higher than Expected Marketing Costs

  • Acquisition Costs
  • Reacquisition Costs
  • Retention Costs
  • Switching Costs
  • Customer Loyalty Research
  • Pricing Research
  • Branding Research
  • Communications Analyses

Inventory Challenges

  • Distributor Research
  • Supply Chain Research
  • Behavior & Usage Research

Challenges Growing and Developing Rapidly

  • Market Opportunity & Entry Research
  • Multi-country Research
  • SIS Global Grow

Risk, Liability and Insurance Issues

  • Strategy Research

Regulatory & Lobbying

  • Market Intelligence
  • Industry Tracking
  • Desk Research

New Product Research

  • Innovation & Disruption Research
  • Customer Needs Gaps
  • Customer Pain Point Research
  • NPD Process Assessment

Our Expertise

SIS has worked for many of the world’s leading Sharing Economy companies.  In particular, much of our Market Research incorporates Focus Groups, Ethnography, Consumer Interviews, Usability Research and many other techniques to deliver business-building insights.  Our Strategy Research Group provides high-level interviews with executives, market sizing, data solutions, and competitive analysis to give you a picture of your space, and your competition’s space.

Market Research in the Sharing Economy

Contact us at research@sisinternational.com to learn how Sharing Economy businesses can prosper with SIS.