FMB NTU Future Thinking report by Helena Evison

FUTURE THINKING

A POST-OWNERSHIP

ERA

A Post-Ownership Era report By Helena Evison N0688998 Word Count: 3166

I confirm this work has gained ethical approval and that I have faithfully observed the terms of approval in the conduct of this product Signature ..........................................................................................................................................................................

CONTENTS Introduction..............................1. Methodology...........................3. What is Post-Ownership?....................7. Post-Ownership Defined.........................................9. The Origins of Post-Ownership...................11. The Evolution........................13. Macro Environmental Factors......................................17. Consumer Behavioural Factors......................................19. Industry Impacts................ 25.

Conclusion...................................34. What is the Future of Post-Ownership?......................35. Appendix.......................................37. References....................................41. Bibliography.............................. 46. Image Bibliography...............52.

CONTENTS

INTRODUCTION

AIMS This report will critically explore the macro trend, Post-Ownership, considering how it came into existence, the evolution, key drivers, consequences and where this macro trend will go in the future. It will analytically reflect research findings and evaluate marketing and branding theories, taking into consideration current global, social and ethical factors to reach conclusive recommendations.

â&#x20AC;&#x153;There is no joy in possession without sharingâ&#x20AC;? â&#x20AC;&#x201C; Erasmus (n.d.)

It is predicted that by 2050 the global population will have increased by 2.2 billion, with both the ageing population and youngest populations rapidly rising, enforcing great pressure on economic, health, social and environmental systems (William, 2019). These are significant factors which have led to recently new innovations for consumption, ending the era of ownership and increasing popularity in the practice of sharing.

OBJECTIVES Gain an understanding of where Postoriginated from Understand what and who is driving this trend

Research the industries Post-Ownership is impacting and trend manifestations that have occurred within those industries

Make a considered judgement on the future potential of the trend

Methodology This report has employed a variety of secondary sources to critically evaluate information about Post-Ownership, such as journal articles, online articles, books, conference proceedings and visual audio sources. Limitations include blogs and articles offering a biased point of view as they are intended to persuade the reader to agree with their argument. In addition, many studies on the macro trend tend to use the same case studies, limiting insight on a broader range of industry impacts.

WHAT IS POSTOWNERSHIP?

In 2017 it was revealed that “in the UK and US 80% of the objects we own are used less than once a month” (Grigoras, 2017). PostOwnership represents a shift in consumption within the macro environment, where an onus is put on the access of products and services, instead of ownership (Amed, 2018). This seismic shift is a distinct demonstration of consumers demand to reduce their rights and responsibilities, regarding their assets, by owning less and technology is fuelling this demand (Yan, 2000).

“In the UK and US

80% of the objects we own are used less than once a month.

(Grigoras, 2017)

”

Resale /riːˈseɪl/

A model which signifies purchased items that are resold, lengthening the product lifecycle (Reisch, 2015).

Rental

/ˈrɛnt(ə)l/ The process of consumers temporarily acquiring products and then returning them to the provider (Anderson, 2013).

Subscription /səbˈskrɪpʃ(ə)n/

POSTOWNERSHIP DEFINED Post-Ownership embodies multiple models and subfields of alternate acquisition and ownership. These can be split into four models/ subfields: Resale (Reisch, 2015), Rental (Anderson, 2013), Subscription (Chyi, 2005), and the Sharing economy (Hu, 2019).

When recurring payments are made by the customer for products or services, enabling the consumer access to products and services without them being wholly owned (Chyi, 2005).

The Sharing-economy ʃɛː/ /ɪˈkɒnəmi/

The sharing economy is a subfield which uses online platforms that enable consumers to take the role of both buyers and sellers to exchange and provide under utilised products and services within online peer-peer networks (Hu, 2019). The Sharing economy is multi-faceted, containing multiple subsequent models within it (Belk, 2014).

Although these models may not appear revolutionary or brand new, the recently gained traction derives from a shift in consumerism, enabled by new technologies and initiated with the intentions of being a more sustainable alternative of acquisition (Hu, 2019). Predominantly the Sharing Economy, also referred to as collaborative consumption, will be explored, as the newest of the models, which Botsman and Rogers (2011) argue has the potential to be equally as impactful as the Industrial Revolution, with regards to the perception of ownership and act of consumption (Botsman and Rogers, 2011). Nevertheless, the remaining models will be considered throughout.

10.

THE ORIGINS OF POST-OWNERSHIP

The second-hand trade is said to have begun within European cities amid the Middle Ages and the start of the fourteenth century, when brand new goods were typically extortionately priced. (Elisa, 2017) It was typical for Italian markets to include second-hand clothes traders (Elisa, 2017).

The earliest records of the rental model coming into existence dates back as early as the Roman era, with the intention of the model being to provide property to the lower classes from their more wealthy counterparts (Frier, 1977; Callaway, 2010).

27BC

1440 Subscription models were initiated in 1440 with the invention of printing press (Aria Systems, 2014). Increasing production quantity at a much lower cost enabled frequent subscriptions (Aria Systems, 2014).

1550

In 1885 telecom company, AT&T launched, providing connection to local Bell companies for a monthly fee, centralising the subscription model for the communication market (Aria Systems, 2014).

1820 When the industrial-revolution took place mass production revolutionised consumption, enabling consumers to perceive goods as disposable. (Waxman, 2018) In turn, this improved waste management systems and pawnshops were driven into existence because of the increase in unwanted goods (Waxman, 2018).

1885

Following from this, a German company, called Sixt, launched in 1912 and car rental gained enormous traction (Clark, 2015).

1904

1912

Initial evidence of car hire dates back as far as 1904, in Minneapolis, when a bicycle business began providing cars to rent (Clark, 2015).

1995 The earliest signifier of the sharing economy being innovated was the launch of eBay in 1995, a noteworthy manifestation of a worldwide shift regarding the process of accessing commodities and consumers trading online with one another on a global scale (Belyh, 2019). As an online peerpeer model of consumption, eBay demonstrates itself as a pioneer of the sharing economy. (Stephany, 2015)

Figure 1.

11.

Figure 1 demonstrates the origins of Post-Ownership era, looking at each category within the trend. It is clear the foundations of trend are not revolutionary, therefore following this the report explore how it has evolved to what it is today

12.

THE EVOLUTION POST-OWNERSHIP What stage of innovation is PostOwnership in now? Having considered the history of Post-Ownership it is clear that this is a trend which is already prevalent. On the Innovation diffusion curve (Rogers, 2004), this macro trend sits comfortably in the middle of the early majority section. Having caused significant disruption, particularly from sharing-economy natives, it has already made a notable impact but would still be considered to be in it is infancy (Miller, 2019; Ciulli, 2019). In 2018 PricewaterhouseCoopers, a multinational professional services network, reported that from 2013 to 2025 the “UK’s five largest sharing economy activities generated revenues”,(Lieberman, 2015) are projected to make an increase of 1700%. (Lieberman, 2015) This highlights the continuing impact the trend is expected to make.

13.

How has the SharingEconomy Evolved? When the sharing economy initiated it was anticipated to be a model that promised to provide products and services in a sustainable and fair manner; environmentally, socially and economically. Its main principles were argued to be: community and consumers gaining autonomy on a peer-peer basis; utilising under-used resources; providing malleable working conditions and products and services were intended to be accessible to all (Acquier, 2017). The legitimacy of these claims has raised recent debate, questioning, if brands that categorise themselves as being part of the sharing economy do not meet these ideological promises what are the implications? (Ciulli, 2019). Something that has bought these issues to light is traditional businesses shifting to a sharing economy model, owing to its evident success for natives. (Murillo, 2017) Francesca Ciulli’s research on incumbents’ sustainable implications within the sharing economy concludes that the level of sustainability practiced by these incumbents can be diverse and dependent on various factors (Ciulli, 2019). For example, if an existing business uses elements of the sharing-economy for the sole purpose of improving its traditional offering and capitalisation, it would demonstrate promotion of overconsumption (Ciulli, 2019). For example, Wagamama using Deliveroo to distribute meals to individual consumers is further encouraging this (Deliveroo, 2019). However, incumbents that optimise under-used resources would be demonstrating they are restructuring themselves to align with the initial promises, stated previously, of the sharing economy (Ciulli, 2019). In addition, if a well-established business does choose to adopt the sharing economy it can help promote and diffuse the sustainable intentions of the sharing-economy to consumers who are not yet aware of it (Ciulli, 2019).Overall this illustrates that the sharing economy began as a model to promote sustainable practices but owing to it is success and disruption, brands have begun to exploit it as a marketing ploy. Nevertheless, this also raises the question, what is driving its initial success?

14.

Nethertheless, this also raises the question, what is driving its initial success?

WHAT IS DRIVING POSTOWNERSHIP? 15.

MACRO-ENVIRONMENTAL DRIVERS The following presents the macro-environmental factors driving Post-Ownership using a DESTEP model.

Demographic – Previous studies have concluded that demographics that tend to part-take

in collaborative consumption are those with higher incomes, in higher-education, millennials and individuals that can use technology with ease (Hsiao et al., 2018). However more recently it has been reported that the sharing economy is beginning to become more inclusive and pushed by a more varied demographic (Rinne, 2019) This shift includes the middle class, women and the elderly (Rinne, 2019). This shift has come as the middle class represents the majority of the global population, women are becoming the primary demographic for the growth in disposable income and the ageing population continues to rise (Rinne, 2019).

Economic - Unconstrained growth in the global economy over previous decades has put a

high level of pressure on resources, urgently requiring new innovations for efficient processes of production and distribution in order to withstand rates of consumption. (Klein et al., 2017) This is a key reason for recent innovations in alternative acquisition, owing to the need for smarter and more efficient utilisation of resources.

Social - It is argued that the sharing-economy has a positive impact on society owing

to its efficiency (Hong, 2018). Costs are reduced because of internet platforms enabling the consumer to directly engage with providers who share their under-utilised assets at a lower costs than that of traditional providers (Hong, 2018) This provides an equal beneficiary impact on both sides. Other social benefits include, providing jobs and a fair wage and helping overcome food-poverty (Matofska, 2018).

Environmental – The reduction in

natural properties has increased concentration on environmental sustainability, driving the growth of new markets and models and improving social accountability (Klein et al., 2017). Sustainability is a topic which is at the centre of the worlds attention and as reported by Deloitte (Klein et al. 2017), which focuses on future global mega trends informs, “Going green has become a business strategy, new players specially targeting environmental concerns have risen in prominence and businesses have begun to take a more active role” (Klein et al., 2017). One of the main factors fuelling the surge in alternative acquisitions models is the increased demand for sustainable consumption, with models such as rental and resale being regarded to lengthen products lifespan and reduce throw-away culture (Amed et al., 2018).

Political – Reports suggest that there is a

global trend whereby higher tier governments tend to favour the sharing economy notably more than local governments (Hong, 2018) For example Uber was opposed by taxi associations within various European cities and public protests took place in an attempt to ban them, this raised concern that government regulators would favour the associations (Hong, 2018). Furthermore in the US The Federal Trade Commission (FTC) showed support to the sharing-economy models by highlighting the benefits for consumers, owing to the increase in competition between incumbents and new sharing-economy companies and showed support against protection for incumbents through a regulatory system (Hong, 2018). However New York and San Francisco local governments forbid consumers from utilising their property to rent on a short term basis (Hong, 2018).

Technology – The rapid increase in smart devices being used is a significant driver for the adoption of the sharing-economy among consumers (M. Pouri and L. Hilty 2018) Online platforms enable fast, inexpensive and original sharing-economy processes (Pouri, 2018). Figure 3

17.

The DESTEP presents that demographics are shifting, inferring an opportunity to tap into new markets, specifically the ageing population sparks potential as it is a market not traditionally associated with online collaborative consumption. The middle class representing the majority of the world population could indicate a reason for the growth in demand for alternative acquisition for luxury products, suggesting an attempt to raise their social status through second-hand and rented luxury consumption.

18.

CONSUMER BEHAVIOURAL DRIVERS The following presents the consumer shifts which have driven Post-Ownership.

Ownership to Accessibility Multiple studies suggest that a recent consumer shift has taken place whereby access has become the primary demand from consumers, rather than ownership (Schaefers et al., 2016). Consequently there is a direct demand from consumers to reduce the amount of commodities they possess as it is suggested they have become a, “burden” (Botsman and Rogers, 2011; Lawson et al., 2016; Schaefers et al., 2016). Furthermore it was recently reported that, “74 percent of Americans prioritize experiences over products” (Morgan, 2019), further demonstrating this shift. On Maslow’s Hierarchy of needs (Maslow, 1943), self-actualisation is now being met by what consumers can access and experience rather than what they own.

Affordability

19.

One of the primary consumer rationales for purchasing second-hand products are proposed to be economical, with second-hand shoppers being described as, “highly economically-oriented bargain hunters” (Seo, 2019). This journal article, which explores, “the purchasing behaviour of second-hand consumers”, (Seo, 2019) suggests that second-hand consumers tend to be people on a low income and students on a smaller budget. However, The Business of Fashion and Mckinsey& Company report that, because luxury brands are continuing to increase prices, affluent markets are also seeking out reduced luxury goods and alternate obtaining methods, such as resale and rental models (Amed et al., 2018). This also comes as there is a reported shift in affluent consumers overtly showing of their wealth, owing to a high-level of criticism (Friend and Bishop, 2018). This demonstrates that financial factors are driving the Post-Ownership models for demographics across the board.

20.

A Demand For Sustainable Solutions The increasing scarcity of natural resources has caused the topic of sustainability to become un-ignorable (Klein et al., 2017). According to Global Footprint Network, Earth over-shoot day, the day that defines when a year’s worth of ecological damage has been caused, fell on July 29th this year, 2019. (Dalton, 2019) Concluding that globally we consume over 30% more resources than our planet can replenish (Earth Overshoot Day, 2019). This has led to an increase in consumer expectation for businesses to ensure they are making critical considerations regarding the impact their products and services have, across the life cycle and supply chains (Charter, 2017). By default rental and resale models, which are part of the sharing-economy, lengthen product lifecycle (Amed et al., 2018) and the sharing-economy, as identified by the World economic forum, is intended to share under-utilised resources to improve sustainability (Rinne, 2019), demonstrating why the demand for sustainable solutions is a key driver for this macro trend. A journal article titled, “Collaborative fashion consumption – drivers, barriers and future pathway” determines that the main motives behind consumers opting for alternative models to purchase and access fashion products are that it satisfies demand for newness within their wardrobe, whilst eliminating the guilt that comes with fast-fashion purchases (Becker-Leifhold and Iran 2018). On a more practical level it proves itself to be a more economical mode of consumption, whilst reducing the perceived risk of buying an unwanted product that would be thrown away (Becker-Leifhold and Iran 2018).

Distrust Among Consumers False reviews have increased in prominence, inauthenticity from brands has risen and consumers are becoming hyper-aware of content which is purposefully created by social-media influencers, with the primary intention of driving sales (Hawkins and Stott, 2019). These are all factors which has caused a notable sense of scepticism among consumers and driven the popularity of peer-peer trading. (Hawkins and Stott, 2019) According to research, by BazaarVoice, 80% of UK consumers admit to trusting a product review by a peer more than a social media influencer (Bazaarvoice, 2018) As distrust rises it is predicted that consumers will shift their attention in order to, “disconnect entirely from existing financial, media, lifestyle and government institutions, and trade directly with their peers.” (Mickiewickz et al., 2017) Demonstrating how consumer distrust is catalysing collaborativeconsumption and the sharing economy.

21.

22.

WHICH INDUSTRIES IS POSTOWNERSHIP IMPACTING? 23.

Health-care An article from Business Wire recently reported that the US health care systems expend $45 billion per annum on medical equipment, which typically can spend 90% of its time unused (Gonzalez, 2019). A predominant principle of the sharing economy is the use of under-utilised assets (Botsman and Rogers, 2011). This alarming statistic has fuelled innovation from the model to overcome this. For example, US brand, Cohealo, has recently provided a network whereby hospitals can share medical equipment to one another, eliminating exorbitant â&#x20AC;&#x153;equipment rentalsâ&#x20AC;? (Gonzalez, 2019) and the necessity to purchase equipment that will spend the majority of its time unused. This framework meets the original principles of the shared economy, as mentioned previously, of being economic, sustainable and socially just (Acquier, 2017); illustrating that as the sharing-economy evolves into the future it has the potential to converge to the original principles if the intentions are there from the beginning of innovation. It also enable hospitals to trade directly with eachother on a business-business basis, shfting autonomy and enabling fairer rates.

25.

INDUSTRY IMPACTS

26.

Travel and Tourism “the sharing-economy business is one of the biggest forces affecting the global travel industry” – (Kelly, 2016) It is common knowledge that Airbnb was a pioneer of the sharing economy within travel and tourism and a clear disruptor to the industry (Yi, 2019). Airbnb offers recently new values, for example, individual ratings and reviews for both the provider and the customer and a one to one point of contact between them that traditional accommodation providers would find difficult to offer (Yi, 2019). These factors are argued to enable consumers to make better and fairer judgements on where they might potentially stay (Yi, 2019). However, Airbnb has been criticised for “hollowing out communities” (Sherwood, 2019) in areas that Airbnb is prominent, owing to its impact on significantly reducing the amount of long-term accommodation rental available (Sherwood, 2019). This is an illustration of Airbnb failing to consider the impact on the consumers not using the service and presenting an impact that is socially unjust, diverging from the model’s original principles ((Acquier, 2017). Moreover, it was reported that in 2018 “short term rentals generated £1.3bn” (Sherwood, 2019) for London’s economy, proving the economic value the model can drive. Conversely, this highlights how the model has evolved to become predominantly driven by economic value, ignoring the remaining factors, which the sharing-economy was originally intended to incorporate..

27.

INDUSTRY IMPACTS

28.

Food and Distribution Food waste impairs the ability to attain economic objectives regarding food security and environmental and financial factors. A recent study conducted by Timothy Richards and Stephen Hamilton (2018) explores the viability of a sharing-economy model to facilitate the trade of food waste between distributors and consumers (Richards and Hamilton, 2018). The paper looks at data from a food surplus sharing-economy platform, Imperfect Produce, LLC, to understand how produce which fails to meet sellable requirements can be distributed directly to consumers (Richards and Hamilton, 2018). It concludes that the platform works in a two-sided market, owing to the result that the number of distributors increased when the demand from consumers was higher and the number of consumers was raised when the variation of distributors was larger, enabling a larger variation of produce (Richards & Hamilton). The study clearly demonstrates how the sharing-economy has the ability to fix a critical societal problem by reducing food waste, offering fair prices and providing food distributors with income they would have lost otherwise; presenting itself to meet the requirements of existing as a sharing-economy platform that is socially, economically and environmentally just (Acquier, 2017). This represents how the social and economic driving forces, mentioned within the DESTEP (Figure 3), have had a direct impact on the food and distribution industry. The rise in produce platforms like these also demonstrate consumers distrust for big corporations, in this case being supermarkets for their clear wastage on edible produce, as they choose to trade directly with distributors.

29.

INDUSTRY IMPACTS

30.

Fashion and Lifestyle The State of Fashion (2018) predicts that, “the resale market could be bigger than fast fashion within ten years” (Amed et al., 2018) This shift in ownership has made a significant impact on the fashion and lifestyle industry, by restructuring models and lengthening products’ life-cycle, fuelled by the demand for sustainable consumption (Amed et al., 2019). A study conducted in 2017 by Westfield shopping centre revealed that, “the UK clothing rental market has a potential value of £923m’, and the sneaker resale market was reported to be worth $2 billion US dollars in 2018 (Pinnock, 2019; Lux, 2018), clearly illustrating the disruption Post-Ownership has had on the fashion industry. In addition, the profitable rewards for brands offering apparel by rental are, by default, more beneficial than traditional models as each item obtains the possibility of being re-sold several times, however, increasing operational implications (Pinnock, 2019). These implications have repelled established fashion brands joining the fashion rental market, as it would force them to completely restructure their models (Pinnock, 2019). However as the trend has gained traction fashion incumbents have realised the benefits, particularly in advancing their reputation to be sustainable (Todeschini, 2017).For example, brands, “Urban Outfitters, Macy’s, Banana Republic, American Eagle, and Bloomingdale’s” (Cline, 2019) announced that they would also be launching a rental model (Cline, 2019) A common theme, particularly within the fashion industry, is these alternative modes of acquisition focusing on the demand for sustainable consumption. Nevertheless, it should be considered how sustainable are these new processes? The process of online renting means that every item is delivered directly to the customer and then returned back to the provider. For example, Express have established a rental-subscription service which entitles subscribers to rent up to three garments a month with unlimited, free exchanges (Express Style Trial, 2019).

31.

It was recently reported that, “Transportation is now the top source of carbon dioxide emissions in the United States” (Cline, 2019). Subsequently this implies that Express are encouraging the impact of carbon dioxide emissions further by enabling unlimited exchanges; contradicting one of the primary purposes of the sharing-economy being a more environmentally sustainable alternative than traditional models (Acquier, 2017). Brands that label themselves as sustainable through rental services are preventing transparency as they are not acknowledging the detrimental impact on the environment that the increase in transportation can have, demonstrating another factor fuelling consumers lack of trust. Owing to the rise in consumer distrust online platforms have emerged which enable informed consumption. For example, Masse is an e-commerce mobile platform that provides “peer-peer recommendations” with the intention of providing unbiased and authentic recommendations to consumers (Hawkins and Stott, 2019). As distrust rises consumers are preferring to trade with one another, encouraging the emergence of micro-ecommerce stores, run by consumers offering branded merchandise, which generate profit. (Hawkins and Stott, 2019) A clear reaction to this is Storr, a mobile platform which enables consumers to retail branded product on social media (Hawkins and Stott, 2019). This is a strong demonstration of how consumers are re-shifting control and decentralising original models as a consequence of A Post-Ownership Era. Furthermore, this shift in consumer attitudes is forcing brands to re-shape their structures by serving as a platform for the consumer to become a micro-commerce retailer, driving autonomy towards the consumer.

32.

CONCLUSION This report has shown how Post-Ownership has risen in prominence, owing to significant shifts in consumer behaviour. Although the foundations within this macro trend are not brand new, the concept has gained notable traction, powered by the evolution of technology, economic and sustainable necessity and consumers perceptions. Though the original intentions of the trend are a clear reaction to this, its evolution and impact do not entirely reflect this. For example, evidence suggests brands using the sharing economy as an additional service is subsequently further encouraging over-consumption and rental services, which increase carbon emissions. Furthermore, consumer tensions rising have already altered the balance in power among consumers and brands, with consumers gaining autonomy and trading between one another. This raises two questions, if tensions continue, how will the way brands and consumers interact evolve and what does the future look like for Post-Ownership?

33.

34.

WHAT DOES THE FUTURE LOOK LIKE FOR POSTOWNERSHIP? Consumer-centred E-commerce As Post-ownership moves into the late majority section of the diffusion of innovation curve (Rogers, 2004) perceptions will shift, from Post-Ownership models being an optional business model, to the primary structure for e-commerce brands, driven from consumers lack of trust and their demand to trade between one another. Brands will provide the platform, whilst consumers play the role of micro-retailers.

The Rise in New Demographics The recent growth in the middle class and the elderly will enable new markets to be targeted, encouraging trend diffusion and meeting new demands.

A Positive Impact When Post-Ownership models are adopted, they should intend to provide a sustainably positive impact, for both sides trading, socially, economically and environmentally. This is to ensure reliability with the consumer, fuelled by consumers lacking trust and a demand for sustainable consumption.

35.

36.

APPENDIX Figure 1.

37.

38.

Figure 2.

Figure 3.

39.

40.

REFERENCES

Chyi, H.I., 2005. Willingness to pay for online news: An empirical study on the viability of the subscription model. Journal of Media Economics, 18 (2), 131-142. Ciulli, F. and Kolk, A., 2019. Incumbents and business model innovation for the sharing economy: Implications for sustainability.

Abad, M., 2018. Why TheRealReal and Stella McCartney are Calling for Luxury Fashion Brands to Embrace Reselling [online]. Media.Net. Available at: https://www.forbes.com/sites/marioabad/2018/04/19/realreal-stellamccartney/#4a7f7a4317a8 [Accessed 11/05 2019].

Clark, A., 2015. History of Car Rental: What has Changed? [online]. Arnold Clark. Available at: https://www. arnoldclarkrental.com/latest-news/275-history-of-car-rental-what-has-changed [Accessed 10/27 2019].

Acquier, A., Daudigeos, T. and Pinkse, J., 2017. Promises and paradoxes of the sharing economy: An organizing framework. Technological Forecasting and Social Change, 125, 1-10.

Cline, E., 2019. How sustainable is renting your clothes, really? [online]. Hearst Digital Media. Available at: https:// www.elle.com/fashion/a29536207/rental-fashion-sustainability/ [Accessed 11/02 2019].

Amed, I., et al., 2018. The State of Fashion 2019. 3rd ed. London: BOF, Mckinsey&Company. Anderson, R., 2013. Renting and Sharing; The Business of the Future [online]. BBC. Available at: https://www.bbc.co.uk/ news/business-20663919 [Accessed 10/27 2019].

Dalton, J., 2019. Humans have used a Year's worth of Resources in just seven Months [online]. The Independent. Available at: https://www.independent.co.uk/news/earth-overshoot-day-natural-resources-humans-planet-naturedamage-global-footprint-a8460756.html [Accessed 11/02 2019].

Aria Systems, 2014. The History of Recurring Revenue [online]. Aria Systems. Available at: https://www.ariasystems. com/blog/the-history-of-recurring-revenue/ [Accessed 11/02 2019].

Deliveroo, 2019. Your Favourite Restaurants and Takeaways Delivered to your Door [online]. Deliveroo. Available at: https://deliveroo.co.uk [Accessed 11/02 2019].

Bazaarvoice, 2019. Make every shopping experience feel informed. [online]. Bazaarvoice. Available at: https://www. bazaarvoice.com [Accessed 11/02 2019].

Elisa, A., 2017. A Little History of Second Hand Clothes [online]. Medium. Available at: https://medium.com/@ ethitudeblog/a-little-history-of-second-hand-clothes-8fb95d08fe38 [Accessed 10/28 2019].

Belk, R., 2014. You are what you can access: Sharing and collaborative consumption online.

Erasmus, D., n.d. There is no joy in sharing without posession [online]. unknown. Available at: https://www.quotenova. net/authors/erasmus/xkvwmk [Accessed 02/11 2019].

Belyh, A., 2015. An Introduction to Sharing Economy [online]. CLEVERISM. Available at: https://www.cleverism.com/ introduction-to-sharing-economy/ [Accessed October 22 2019]. Express Style Trial, 2019. Express Style Trial [online]. Express Style Trial. Available at: https://www.expstyletrial.com [Accessed 11/05 2019]. Botsman, R. and Rogers, R., 2011. What's mine is yours: how collaborative consumption is changing the way we live. Collins London. Friend, H. and Bishop, K., 2018. Uneasy Affluence [online]. LS:N. Available at: https://www.lsnglobal.com/macro-trends/ article/22757/uneasy-affluence [Accessed 11/02 2019]. Callaway, W., 2010. Rent History: Part 1 From Pyramids to Pool Houses How Rent History Applies Today [online]. rentpost. Available at: https://rentpost.com/blog/other/from-pyramids-to-poolhouses-rent-history-and-how-it-appliestoday/ [Accessed 10/27 2019]. Charter, M. and Tischner, U., 2017. Sustainable solutions: developing products and services for the future. Routledge.

41.

Frier, B.W., 1977. The Rental Market in Early Imperial Rome. The Journal of Roman Studies, 67, 27-37. Gonzalez, J., 2019. New International Survey Reports on The End of Ownership and the Rise of Subscriptions [online]. Business Wire. Available at: https://www.businesswire.com/news/home/20190429005110/en/New-InternationalSurvey-Reports-Ownership-Rise-Subscriptions [Accessed 10/27 2019]. Grigoras, O., 2017. Sharing is the New Owning - A shift in Consumer Behaviour [online]. Deemly. Available at: https://deemly.co/blog/sharing-owning-consumer-behavior/ [Accessed 11/02 2019].

42.

Halls, E., 2019. Hire Street is Changing the Way Young Women Shop [online]. Conde Nast. Available at: https://www. vogue.co.uk/article/hire-street-high-street-rent-clothes-website [Accessed 11/02 2019]. Hawkins, A. and Stott, R., 2019. Community Commerce [online]. LS:N. Available at: https://www.lsnglobal.com/macrotrends/article/23965/community-commerce-1 [Accessed 10/25 2019]. Hong, S. and Lee, S., 2018. Adaptive governance and decentralization: Evidence from regulation of the sharing economy in multi-level governance. Government Information Quarterly, 35 (2), 299-305. Hsiao, J.C., et al., 2018. The role of demographics, trust, computer self-efficacy, and ease of use in the sharing economy. In: Proceedings of the 1st ACM SIGCAS Conference on Computing and Sustainable Societies, ACM, pp. 37. Hu, M., 2019. Sharing economy: making supply meet demand. Springer.

Miller, D., 2019. The Sharing Economy and How it Is Changing Industries [online]. The Balance SMB. Available at: https://www.thebalancesmb.com/the-sharing-economy-and-how-it-changes-industries-4172234 [Accessed 10/25 2019]. Morgan, B., 2019. NOwnership, No Problem: An Updated Look At Why Millennials Value Experiences Over Owning Things [online]. Forbes Media. LLC. Available at: https://www.forbes.com/sites/blakemorgan/2019/01/02/nownershipno-problem-an-updated-look-at-why-millennials-value-experiences-over-owning-things/#50f0f8a1522f [Accessed 1102 2019]. Murillo, D., Buckland, H. and Val, E., 2017. When the sharing economy becomes neoliberalism on steroids: Unravelling the controversies. Technological Forecasting and Social Change, 125, 66-76. Perzanowski, A., 2018. Is This the End of Ownership? [online]. Forbes. Available at: https://www.forbes.com/sites/ insights-intelai/2018/09/21/is-this-the-end-of-consumer-ownership/#30215abe3f24 [Accessed 25/10 2019].

Kelly, J., 2016. The Impact of Sharing-Economy Business on Travel [online]. Mintel. Available at: https://academic.mintel. com/display/774602/?highlight#hit1 [Accessed 11/02 2019]. Klein, F., Bansai, M. and Wolhers, J., 2017. Beyond the Noise - The Mega Trends of Tomorrow's World. 2nd ed. Munich: Deloitte Consulting GmbH. Lawson, S.J., et al., 2016. Freedom from ownership: An exploration of access-based consumption. Journal of Business Research, 69 (8), 2615-2623. Lieberman, M., 2015. The sharing economy: Consumer intelligence series. USA: PricewaterhouseCoopers, LLP;.

Pinnock, O., 2019. A Hire Purpose: The Opportunities in Rental Fashion [online]. EMAP. Available at: https://www. drapersonline.com/business-operations/a-hire-purpose-the-opportunities-in-rental-fashion/7033812.article [Accessed 10/27 2019]. Pouri, M.J. and Hilty, L.M., 2018. ICT-Enabled Sharing Economy and Environmental Sustainability—A Resource-oriented Approach. In: ICT-Enabled Sharing Economy and Environmental Sustainability—A Resource-oriented Approach. Advances and New Trends in Environmental Informatics. Springer, 2018, pp. 53-65. Reisch, L.A. and Th_gersen, J., 2015. Handbook of research on sustainable consumption. Edward Elgar Publishing.

Lux, M. and Bug, P., 2018. Sole value–the sneaker resale market: an explorative analysis of the sneaker resale market. Richards, T.J. and Hamilton, S.F., 2018. Food waste in the sharing economy. Food Policy, 75, 109-123. Maslow, A., A theory of human motivation. Lulu. com.

Rinne, A., 2019. 4 Ways the Sharing Economy will develop in 2019 [online]. World Economic Forum. Available at: https://www.weforum.org/agenda/2019/01/sharing-economy/ [Accessed 11/02 2019].

Maslow, A.H., 1943. A theory of human motivation. Psychological Review, 50 (4), 370. Rogers, E.M., 2004. A Prospective and Retrospective Look at the Diffusion Model. Journal of Health Communication, 9, 13-19. Matofska, B., 2018. Global Sharing Week: Research Shows Social Impact of the Sharing Economy [online]. Benita Matofska. Available at: https://www.benitamatofska.com/single-post/2018/06/03/GLOBAL-SHARING-WEEKRESEARCH-SHOWS-SOCIAL-IMPACT-OF-THE-SHARING-ECONOMY [Accessed 11/04 2019]. Mickiewicz, M., Smith, J. and Fontiverio-Hylton, K., 2017. Consumer 2020 [online]. LS:N. Available at: https://www. lsnglobal.com/macro-trends/article/21803/consumer-2020 [Accessed 11/02 2019].

43.

Schaefers, T., Lawson, S.J. and Kukar-Kinney, M., 2016. How the burdens of ownership promote consumer usage of access-based services. Marketing Letters, 27 (3), 569-577. Seo, M.J. and Kim, M., 2019. Understanding the purchasing behaviour of second-hand fashion shoppers in a nonprofit thrift store context. International Journal of Fashion Design, Technology and Education, , 1-12.

44.

Sherwood, H., 2019. How Airbnb took over the world [online]. Guardian News & Media. Available at: https://www. theguardian.com/technology/2019/may/05/airbnb-homelessness-renting-housing-accommodation-social-policy-citiestravel-leisure [Accessed 11/02 2019].

BIBLIOGRAPHY The Beginnings of Subscription Publication in the Seventeenth Century. 1931. Modern Philology, 29 (2), 199-224.

Stephany, A., 2015. The business of sharing: Making it in the new sharing economy. Springer. Todeschini, B.V., et al., 2017. Innovative and sustainable business models in the fashion industry: Entrepreneurial drivers, opportunities, and challenges. Business Horizons, 60 (6), 759-770.

Waxman, O., 2018. Histroy of Thrift Stores [online]. Time USA. Available at: https://time.com/5364170/thrift-store-history/ [Accessed 11/02 2019]. William, B., 2019. A Guide for Spaces & Products in an Era of Post-ownership [online]. Co-living Diaries. Available at: https://www.colivingdiaries.com/blog/a-guide-for-spaces-products-in-an-era-of-post-ownership [Accessed 11/04 2019].

Acquier, A., Daudigeos, T. and Pinkse, J., 2017. Promises and paradoxes of the sharing economy: An organizing framework. Technological Forecasting and Social Change, 125, 1-10. Amed, I., et al., 2018. The State of Fashion 2019. 3rd ed. London: BOF, Mckinsey&Company.

Yan, Y., 2000. International joint ventures in China. Springer. Yi, J., Yuan, G. and Yoo, C., 2019. The effect of the perceived risk on the adoption of the sharing economy in the tourism industry: The case of Airbnb.

Anderson, R., 2013. Renting and Sharing; The Business of the Future [online]. BBC. Available at: https://www.bbc. co.uk/news/business-20663919 [Accessed 10/27 2019].

Zhu, X. and Cho, M., 2018. The end of ownership?: An investigation of usersâ&#x20AC;&#x2122; preferences and perceptions of ownership configurations. Proceedings of the Association for Information Science and Technology, 55 (1), 618-627. Aria Systems, 2014. The History of Recurring Revenue [online]. Aria Systems. Available at: https://www.ariasystems. com/blog/the-history-of-recurring-revenue/ [Accessed 11/02 2019].

Baker, J.B., 2011. An investigation of the motivations for second-hand clothing donation and purchase. The University of North Carolina at Greensboro.

Bazaarvoice, 2019. Make every shopping experience feel informed. [online]. Bazaarvoice. Available at: https:// www.bazaarvoice.com [Accessed 11/02 2019].

Becker-Leifhold, C. and Iran, S., 2018. Collaborative fashion consumptionâ&#x20AC;&#x201C;drivers, barriers and future pathways. Journal of Fashion Marketing and Management: An International Journal, 22 (2), 189-208. Belk, R., 2014. You are what you can access: Sharing and collaborative consumption online. Belyh, A., 2015. An Introduction to Sharing Economy [online]. CLEVERISM. Available at: https://www.cleverism.com/ introduction-to-sharing-economy/ [Accessed October 22 2019].

45.

46.

Böcker, L. and Meelen, T., 2017. Sharing for people, planet or profit? Analysing motivations for intended sharing economy participation. Environmental Innovation and Societal Transitions, 23, 28-39. Botsman, R. and Rogers, R., 2011. What's mine is yours: how collaborative consumption is changing the way we live. Collins London. Brinkø, R., Nielsen, S.B. and van Meel, J., 2015. Access over ownership–a typology of shared space. Facilities, 33 (11/12), 736-751. Brooks, A., 2019. Clothing poverty: The hidden world of fast fashion and second-hand clothes. Zed Books Ltd. Callaway, W., 2010. Rent History: Part 1 From Pyramids to Pool Houses How Rent History Applies Today [online]. rentpost. Available at: https://rentpost.com/blog/other/from-pyramids-to-poolhouses-rent-history-and-how-it-appliestoday/ [Accessed 10/27 2019].

Earth Overshoot Day, 2019. Press Release June 2019 - Earth Overshoot day [online]. Global Footprint Network. Available at: https://www.overshootday.org/newsroom/press-release-june-2019-english/ [Accessed 27/10 2019]. Elisa, A., 2017. A Little History of Second Hand Clothes [online]. Medium. Available at: https://medium.com/@ethitudeblog/a-little-history-of-second-hand-clothes-8fb95d08fe38 [Accessed 10/28 2019]. Erasmus, D., n.d. There is no joy in sharing without posession [online]. unknown. Available at: https://www.quotenova. net/authors/erasmus/xkvwmk [Accessed 02/11 2019]. Express Style Trial, 2019. Express Style Trial [online]. Express Style Trial. Available at: https://www.expstyletrial.com [Accessed 11/05 2019]. Friend, H. and Bishop, K., 2018. Uneasy Affluence [online]. LS:N. Available at: https://www.lsnglobal.com/macro-trends/ article/22757/uneasy-affluence [Accessed 11/02 2019]. Frier, B.W., 1977. The Rental Market in Early Imperial Rome. The Journal of Roman Studies, 67, 27-37.

Charter, M. and Tischner, U., 2017. Sustainable solutions: developing products and services for the future. Routledge. Gebbia, J., 2016. How Airbnb Designs for trust. YouTube: TED. Chitrakorn, K., 2017. Air bnb Co-Founder Shares Innovation Advice [online]. The Business of Fashion. Available at: https://www.businessoffashion.com/articles/video/airbnb-co-founder-shares-innovation-advice [Accessed 25/10 2019]. Chyi, H.I., 2005. Willingness to pay for online news: An empirical study on the viability of the subscription model. Journal of Media Economics, 18 (2), 131-142. Chyi, H.I., 2005. Willingness to pay for online news: An empirical study on the viability of the subscription model. Journal of Media Economics, 18 (2), 131-142. Ciulli, F. and Kolk, A., 2019. Incumbents and business model innovation for the sharing economy: Implications for sustainability. Clark, A., 2015. History of Car Rental: What has Changed? [online]. Arnold Clark. Available at: https://www.arnoldclarkrental.com/latest-news/275-history-of-car-rental-what-has-changed [Accessed 10/27 2019]. Cline, E., 2019. How sustainable is renting your clothes, really? [online]. Hearst Digital Media. Available at: https:// www.elle.com/fashion/a29536207/rental-fashion-sustainability/ [Accessed 11/02 2019]. Dalton, J., 2019. Humans have used a Year’s worth of Resources in just seven Months [online]. The Independent. Available at: https://www.independent.co.uk/news/earth-overshoot-day-natural-resources-humans-planet-nature-damage-global-footprint-a8460756.html [Accessed 11/02 2019].

47.

Gonzalez, J., 2019. New International Survey Reports on The End of Ownership and the Rise of Subscriptions [online]. Business Wire. Available at: https://www.businesswire.com/news/home/20190429005110/en/New-International-Survey-Reports-Ownership-Rise-Subscriptions [Accessed 10/27 2019]. Grigoras, O., 2017. Sharing is the New Owning - A shift in Consumer Behaviour [online]. Deemly. Available at: https://deemly.co/blog/sharing-owning-consumer-behavior/ [Accessed 11/02 2019]. Halls, E., 2019. Hire Street is Changing the Way Young Women Shop [online]. Conde Nast. Available at: https://www. vogue.co.uk/article/hire-street-high-street-rent-clothes-website [Accessed 11/02 2019]. Hamari, J., Sjöklint, M. and Ukkonen, A., 2016. The sharing economy: Why people participate in collaborative consumption. Journal of the Association for Information Science and Technology, 67 (9), 2047-2059. Hawkins, A. and Stott, R., 2019. Community Commerce [online]. LS:N. Available at: https://www.lsnglobal.com/macro-trends/article/23965/community-commerce-1 [Accessed 10/25 2019]. Hong, S. and Lee, S., 2018. Adaptive governance and decentralization: Evidence from regulation of the sharing economy in multi-level governance. Government Information Quarterly, 35 (2), 299-305.

48.

Hsiao, J.C., et al., 2018. The role of demographics, trust, computer self-efficacy, and ease of use in the sharing economy. In: Proceedings of the 1st ACM SIGCAS Conference on Computing and Sustainable Societies, ACM, pp. 37.

Hu, M., 2019. Sharing economy: making supply meet demand. Springer.

Morgan, B., 2019. NOwnership, No Problem: An Updated Look At Why Millennials Value Experiences Over Owning Things [online]. Forbes Media. LLC. Available at: https://www.forbes.com/sites/blakemorgan/2019/01/02/nownership-no-problem-an-updated-look-at-why-millennials-value-experiences-over-owning-things/#50f0f8a1522f [Accessed 1102 2019].

Ickstadt, J. and Dippert, P.A., 2019. Rethinking Fashion. From Linear Models to Circular Solutions through Disruptive Business Model Innovations.

Mortara, A. and Roberti, G., 2019. Sharing Economy and Young People. A Qualitative Explorative Project1. Sharing Society, , 196. Instructor, A., 2018. What is Minimalism and why is it becoming so Popular? [online]. Minimalist Academy. Available at: https://www.minimalist.academy/what-is-minimalism-and-why-is-it-becoming-so-popular/ [Accessed 10/27 2019].

Munger, M.C., 2018. Tomorrow 3.0: Transaction costs and the sharing economy. Cambridge University Press.

Kalanick, T., 2016. Uber's plan to get more people into fewer cars. YouTube: TED.

Murillo, D., Buckland, H. and Val, E., 2017. When the sharing economy becomes neoliberalism on steroids: Unravelling the controversies. Technological Forecasting and Social Change, 125, 66-76.

Kelly, J., 2016. The Impact of Sharing-Economy Business on Travel [online]. Mintel. Available at: https://academic.mintel. com/display/774602/?highlight#hit1 [Accessed 11/02 2019].

Paul, 2011. The History of the Car Rental Industry [online]. CRX. Available at: https://www.carrentalexpress.com/blog/ history-car-rental-industry [Accessed 10/27 2019]. Perzanowski, A., 2018. Is This the End of Ownership? [online]. Forbes. Available at: https://www.forbes.com/sites/insights-intelai/2018/09/21/is-this-the-end-of-consumer-ownership/#30215abe3f24 [Accessed 25/10 2019].

Klein, F., Bansai, M. and Wolhers, J., 2017. Beyond the Noise - The Mega Trends of Tomorrow's World. 2nd ed. Munich: Deloitte Consulting GmbH. Lawson, S.J., et al., 2016. Freedom from ownership: An exploration of access-based consumption. Journal of Business Research, 69 (8), 2615-2623.

Perzanowski, A. and Schultz, J., 2016. The end of ownership: Personal property in the digital economy. MIT Press. Pinnock, O., 2019. A Hire Purpose: The Opportunities in Rental Fashion [online]. EMAP. Available at: https://www. drapersonline.com/business-operations/a-hire-purpose-the-opportunities-in-rental-fashion/7033812.article [Accessed 10/27 2019].

Lessin Sam, 2010. TEDxEast - Sam Lessin-The end of ‘ownership’ learning about how we play. Youtube: TedxEast. Lieberman, M., 2015. The sharing economy: Consumer intelligence series. USA: PricewaterhouseCoopers, LLP;. Lux, M. and Bug, P., 2018. Sole value–the sneaker resale market: an explorative analysis of the sneaker resale market. Martin, C.J., 2016. The sharing economy: A pathway to sustainability or a nightmarish form of neoliberal capitalism? Ecological Economics, 121, 149-159.

Pouri, M.J. and Hilty, L.M., 2018. ICT-Enabled Sharing Economy and Environmental Sustainability—A Resource-oriented Approach. In: ICT-Enabled Sharing Economy and Environmental Sustainability—A Resource-oriented Approach. Advances and New Trends in Environmental Informatics. Springer, 2018, pp. 53-65. Reisch, L.A. and Th_gersen, J., 2015. Handbook of research on sustainable consumption. Edward Elgar Publishing. Reisch, L.A. and Th_gersen, J., 2015. Handbook of research on sustainable consumption. Edward Elgar Publishing. Richards, T.J. and Hamilton, S.F., 2018. Food waste in the sharing economy. Food Policy, 75, 109-123.

Maslow, A.H., 1943. A theory of human motivation. Psychological Review, 50 (4), 370. Mi, Z. and Coffman, D., 2019. The sharing economy promotes sustainable societies. Nature Communications, 10 (1), 1214. Mickiewicz, M., Smith, J. and Fontiverio-Hylton, K., 2017. Consumer 2020 [online]. LS:N. Available at: https://www. lsnglobal.com/macro-trends/article/21803/consumer-2020 [Accessed 11/02 2019].

Rinne, A., 2019. 4 Ways the Sharing Economy will develop in 2019 [online]. World Economic Forum. Available at: https://www.weforum.org/agenda/2019/01/sharing-economy/ [Accessed 11/02 2019]. Rinne, A., 2017. What Exactly is the Sharing Economy? [online]. World Economic Forum. Available at: https://www. weforum.org/agenda/2017/12/when-is-sharing-not-really-sharing/ [Accessed 10/27 2019]. Robinson, H. and Laughlin, S., 2014. The New Value Economy [online]. LS:N. Available at: https://www-lsnglobal-com. ntu.idm.oclc.org/macro-trends/article/16559/the-new-value-economy - [Accessed 25/09 2019].

49.

50.

Rogers, E.M., 2004. A Prospective and Retrospective Look at the Diffusion Model. Journal of Health Communication, 9, 13-19.

IMAGE BIBLIOGRAPHY

Ryding, D., Henninger, C.E. and Cano, M.B., 2018. Vintage Luxury Fashion: Exploring the Rise of the Secondhand Clothing Trade. Springer. Schaefers, T., Lawson, S.J. and Kukar-Kinney, M., 2016. How the burdens of ownership promote consumer usage of access-based services. Marketing Letters, 27 (3), 569-577.

Melbourne Food and Wine Festival Branding Antra Svarcs, 2018 (online). Antra Ĺ varcs. Available at: http://www.antra-svarcs.com/#/ melbourne-food-wine-festival/ (Accessed November 2 2019)

Schaefers, T., Lawson, S.J. and Kukar-Kinney, M., 2016. How the burdens of ownership promote consumer usage of access-based services. Marketing Letters, 27 (3), 569-577. Seo, M.J. and Kim, M., 2019. Understanding the purchasing behaviour of second-hand fashion shoppers in a non-profit thrift store context. International Journal of Fashion Design, Technology and Education, , 1-12. Smith, N.C. and McCormick, E., 2019. Uber and the Ethics of Sharing: Exploring the Societal Promises and

Melbourne Food and Wine Festival Branding Antra Svarcs, 2018 (online). Antra Ĺ varcs. Available at: http://www.antra-svarcs.com/#/ melbourne-food-wine-festival/ (Accessed November 2 2019)

Responsibilities of the Sharing Economy. In: Uber and the Ethics of Sharing: Exploring the Societal Promises and Responsibilities of the Sharing Economy. Managing Sustainable Business. Springer, 2019, pp. 575-607. Stephany, A., 2015. The business of sharing: Making it in the new sharing economy. Springer. Szajna-Hopgood, A., 2018. The Great Subscription Shift: Is This the End of Ownership [online]. Retail Gazette. Available at: https://www.retailgazette.co.uk/blog/2018/08/the-great-subscription-shift-is-this-the-end-of-ownership/ [Accessed 10/27 2019]. Taylor, A., 2018. The Bike-Share Oversupply in China: Huge Piles of Abandones and Broken Bicycles [online]. The Atlantic. Available at: https://www.theatlantic.com/photo/2018/03/bike-share-oversupply-in-china-huge-piles-of-abandoned-and-broken-bicycles/556268/ [Accessed 25/10 2018].

2 Illustrated people carrying a paintbrush Betty Norris, n.d. (online). Betty Norris Illustration. Available at: https://www.bettnorrisillustration.com (Accessed November 2 2019)

Illustrated of various people on table unknown, n.d. (Online) I see photo Avaliable at: http://iseephoto.com/detail/i-love-thisillustration-everyone-gather-round-and-be-yourself-book-de-lillustratrice-magalie-f-portfolio-portfolio (Accessed November 2 2019)

Todeschini, B.V., et al., 2017. Innovative and sustainable business models in the fashion industry: Entrepreneurial drivers, opportunities, and challenges. Business Horizons, 60 (6), 759-770. Vala, A., 2019. 5 Trend Driving the End of Ownership and The Growth of the Subscription Economy [online]. CBS Interactive. Available at: https://www.zdnet.com/article/5-trends-driving-the-end-of-ownership-and-the-growth-of-thesubscription-economy/ [Accessed 10/25 2019].

Tall Building unknown, n.d. (Online) Twitter Avaliable at: https://twitter.com/eeeno1218/status/1122437304029630464 (Accessed November 2 2019)

Veblen, T., 1898. The beginnings of ownership. American Journal of Sociology, 4 (3), 352-365. Waxman, O., 2018. Histroy of Thrift Stores [online]. Time USA. Available at: https://time.com/5364170/thrift-store-history/ [Accessed 11/02 2019]. Yi, J., Yuan, G. and Yoo, C., 2019. The effect of the perceived risk on the adoption of the sharing economy in the tourism industry: The case of Airbnb. Zhu, X. and Cho, M., 2018. The end of ownership?: An investigation of users' preferences and perceptions of ownership configurations. Proceedings of the Association for Information Science and Technology, 55 (1), 618-627.

51.

Question Mark, Moreton Hall, Weston Rhyn, United Kingdom Emily Morter, 2017 (Online) Unsplash Avaliable at: https://unsplash.com/photos/8xAA0f9yQnE (Accessed November 2 2019)

52.

Rack full of shared bikes in Beijing, China Marcus Winkler, 2019 (Online) Unsplash Avaliable at: https://unsplash.com/photos/ cPQm848spJw/info (Accessed 2 Saturday, 2019)

Bloomberg Business Week: Invasion of Taxi Snatchers Ellen Porteus, n.d. (Online) The Loop Available at: https://www.theloop.com.au/ellen. porteus/portfolio/bloomberg-businessweek-invasion-of-the-taxi-snatchers/161148 (Accessed 2 Saturday, 2019)

Illustrations for Forbes Magazine Ira Kruglova, 2017 (Online) the Lokal Avaliable at: http://thelokal.us/lokal-residents-ira-kruglova-illustrator/ (Accessed 2 Saturday, 2019)

A rconstruction shows the seasonal work building at San Martino, which dates to the late 1st century BC unknown, n.d. (Online) Penn Museum Available at: https://www.penn.museum/sites/expedition/excavating-the-roman-peasant/

Illustrations for Forbes Magazine Ira Kruglova, 2017 (Online) the Lokal Avaliable at: http://thelokal.us/lokal-residents-ira-kruglova-illustrator/ (Accessed 2 Saturday, 2019)

Illustration of one the first types of printing press unknown, n.d. (Online) Weebly Availabe at: https://tcotr.weebly.com/martin-luther.html (Accessed 2 Saturday, 2019)

Retro Pawn Shop unknown, n.d. (Online) Pinterest Available at: https://www.pinterest.co.uk/ pin/348606827407585553/ (Accessed 2 Saturday, 2019)

Fashion rental graphic slogan unknown, n.d. (Online) The Fashion Pass Available at: https://thefashionpass.com (Accessed 2 Saturday, 2019)

Wyze Subscription Box Anton Pronin, n.d. (Online) Behance Available at: https://www.behance.net/gallery/66339661/Wyze (Accessed 2 Saturday, 2019)

53.

A town in the middle ages unknown, n.d. (Online) Flickr Availabe at: h https://www.flickr.com/photos/kimstovring/15649391076/in/photostream/ l (Accessed 2 Saturday, 2019)

A classic British 706 series telephone unknown, n.d. (Online) Vintage Telephony Availabe at: https://www.vintagetelephony. co.uk/product/gpo-706 (Accessed 2 Saturday, 2019)

Old style car unknown, n.d. (Online) Arnold Clark Rental https://www.arnoldclarkrental.com/latest-news/275-history-of-car-rental-what-haschanged (Accessed 2 Saturday, 2019)

54.

Old style car in black and white unknown, n.d. (Online) ABC Transfer and Services Available at: http://rentacarmacedonia. mk/Home/BlogDetails/6288 (Accessed 2 Saturday, 2019)

Ebay Logo unknown, n.d. (Online) Multi-Channel Merchant Available at: h https://multichannelmerchant.com/operations/ebay-suite-fulfillment-services-targets-high-volume-sellers/ (Accessed 2 Saturday, 2019)

The Plaza Fairmont Unknown, n.d. (Online) Atlantic Pacific Available at: https://www.the-atlantic-pacific. com/2016/11/18/the-plaza-fairmont/ (Accessed 2 Saturday, 2019)

Diffusion of Innovation Curve E.M Rogers, 1962. (Online) Behavioural change models Available at: http://sphweb.bumc. bu.edu/otlt/MPH-Modules/SB/BehavioralChangeTheories/BehavioralChangeTheories4. html (Accessed 2 Saturday, 2019)

Illustration of women on laptop having a foot-spa Unknown, n.d. (Online) Tumblr Available at: https://mounifeddag.tumblr.com/ post/97595560385 (Accessed 2 Saturday, 2019)

Deliveroo Hong Kong unknown, n.d. . (Online) Behance Available at: https://www.3stories.co.uk/deliveroo-hong-kong-1 (Accessed 2 Saturday, 2019)

Sharing Economy illustration . (Online) Behance Available at: https://www.behance.net/gallery/29071441/Sharing-economy (Accessed 2 Saturday, 2019)

Deforestation Massimo Revinci, 2019 (Online) Unsplash Available at: https://unsplash.com/photos/upvt1r4BBCo (Accessed 2 Saturday, 2019)

55.

Ipad Illustrations Kervin Brisseaux, 2018 (Online) Unsplash Available at: https://www.behance.net/ gallery/71850413/IPAD-ILLUSTRATIONS?trackingid=T32PLY3L&mv=email (Accessed 2 Saturday, 2019)

Illustration of women on phone complaining about a bad film Unknown, n.d. (Online) Tumblr Available at: https://mounifeddag.tumblr.com/ post/85936510905 (Accessed 2 Saturday, 2019)

Hand graphic Unknown, n.d. (Online) Tumblr Available at: https://zeloot.tumblr.com (Accessed 2 Saturday, 2019)

Hospital Unknown, n.d. (Online) PinSearch Available at: https://5.beylikduzuilan.com/ pin/419397784045655803 (Accessed 2 Saturday, 2019)

56.

Waiting Room Unknown, n.d. (Online) Dyke and Dean Available at: https://www.dykeanddean.com/ blogs/journal/the-waiting-room (Accesssed 2 Saturday, 2019)

New York Unknown, n.d. (Online) Wanderlusting Available at: https://www.wanderlustingk.com/ travel-blog/cheap-hotels-nyc (Accesssed 2 Saturday, 2019)

Our traveling diary through Copenhagen. First stay - airbnb apartment and their lovely view David Dvoracek, 2019. (Online) Wanderlusting Available at: https://unsplash.com/photos/9WEK_ KE4WaE (Accesssed 2 Saturday, 2019)

Misfits market, yellow produce Unknown, (2019) (Online) Misfitsmarket Instagram Available at https://www.instagram. com/misfitsmarket/: (Accesssed 2 Saturday, 2019)

Misfits market, imperfect parsnips Unknown, (2019) (Online) Misfitsmarket Instagram Available at https://www.instagram. com/misfitsmarket/: (Accesssed 2 Saturday, 2019)

Miguelâ&#x20AC;&#x2122;s bright apartment, Porto, Portugal Miguel (2019) (Online) Airbnb Instagram Available at: https://www.instagram.com/p/ B4imrAan4bd/ (Accesssed 2 Saturday, 2019)

Modern retail space Unknown, (2019) (Online) Man like marvin spark Available at: http://www.manlikemarvinsparks.com/70-awesome-ideas-to-retail-space-for-your-showroom/28_retail-space-showroom-ideas/#main (Accesssed 2 Saturday, 2019)

Chelseaâ&#x20AC;&#x2122;s apartment, Philadelphia, US Chelsea (2019) (Online) Airbnb Instagram Available at: https://www.instagram.com/p/ Bq5DTHlHPtc/ (Accesssed 2 Saturday, 2019)

Iphone vector Unknown, (2019) (Online) Man like marvin spark Available at: https://www.freepik.com/ search?dates=any&format=search&page=1&query=iphone&sort=popular&type=vector (Accesssed 2 Saturday, 2019)

Imperfect Produce imagery Unknown, n.d. (2019) Imperfect Produce Available at: https://res.cloudinary.com/imperfect/image/upload/v1570899026/website-assets/ABTasty%20website%20test%20 assets/DesktopV_ 3.jpg (Accesssed 2 Saturday, 2019)

57.

Misfits market, produce in yellow tote Unknown (2019) (Online) Misfitsmarket Instagram Available at https://www.misfitsmarket. com (Accesssed 2 Saturday, 2019)

Storr Unknown, (2019) (Online) Storre Available at: https://www.storr.com (Accesssed 2 Saturday, 2019)

58.

Iphone vector Unknown, (2019) (Online) Man like marvin spark Available at: https://www.freepik. com/search?dates=any&format=search&page=1&query=iphone&sort=popular&type=vector (Accesssed 2 Saturday, 2019)

Masse Unknown, (2019) (Online) Storre Available at: https://apps.apple.com/us/app/masseapp/id1400627501 (Accesssed 2 Saturday, 2019)

Tug of war illustration Betty Norris, n.d. (online). Betty Norris Illustration. Available at: https://www.bettnorrisillustration.com (Accessed November 2 2019)

Community app platform Lemon C, 2019 (online). Dribbble. Available at: https://dribbble.com/LemonC (Accessed November 2 2019)

59.