Data Day Britain report: Sharing Economy…

Data Day Britain report: Sharing Economy Unfolded

With the UK’s sharing economy now owning more than 10 per cent of brands globally, our recent Data Day Britain report revealed website visits to sharing economy sites have increased more than three times in 2016.

In our latest report we looked at the online behaviour of both digital natives (those aged between 18 and 34) and digital migrants (those aged over 35) to identify trends in consumer behaviour witnessed online.

When analysing the findings (using data from Hitwise) we identified that Airbnb and Love Home Swap, surprisingly received the majority of visits from older audiences, whilst the overall demand for the sharing economy was most popular amongst digital natives. We also found this group to be 60 per cent more likely than the average Brit to use space sharing sites overall.

Aside from the space sharing economy, financial sharing also proves extremely popular amongst people in the UK. Interestingly, our research found that Digital migrants are circumventing traditional banking institutions and exploring collaborative investment options online, representing more than double the number of visits to FundingCircle and almost triple the number of visits to Rebuilding Society over digital natives.

When it comes to finances, we also noticed that younger audiences (digital natives) are actively involved in financial sharing sites which enable them to support and get involved with a project they believe in. Crowdfunding services like Kickstarter, receive 65 per cent of visits from digital natives.

The report as a whole highlights the three key areas of the UK’s online internet consumption and behaviour:

  • Live – The sharing economy is one of the fastest growing sectors of the internet, driven by both digital natives and digital migrants
  • Work – Hitwise found that more than 4.1m Brits created “how-to” queries in the first three months of 2016 and 1.3 million visited an online learning sites like FutureLearn, Coursera or Udemy in that period.
  • Play – Digital natives are looking for experiences online, being 21 per cent more likely to search for concerts whereas digital migrants are using the internet to plan their hobbies

 To read more about our findings and download the report, head to this page, here.

By Marie Dalton, Marketing Director at Connexity