Innovations driven sharing economy in the context of tourism business
Discussion about the benefits and threats of the sharing economy, its implications for the traditional economy. Definition of the concept, features, causes and results of the sharing economy in the context of the transformation of the tourism business.
| Рубрика | Экономика и экономическая теория |
| Вид | статья |
| Язык | английский |
| Дата добавления | 08.02.2022 |
| Размер файла | 23,3 K |
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Innovations driven sharing economy in the context of tourism business
E. Semionovaite,
E. Baranskaite,
D. Labanauskaite
Annotation
Relevance of research topic. Innovation's penetration is increasing very fast because of technologies development, society attitude and economic benefit. It transforms traditional businesses to new models and forms.
One of the recent trends is sharing economy. It grows very fast and is being introduced in more sectors. One of the biggest growths is in tourism sector. There are some challenges both for the society and science.
Research problem: the discussions about the sharing economy, its benefits and threats, implications for the traditional economy are increasing in the literature [7; 17; 18; 20; 34]. However, the scope of sharing economy in each sector of the economy may be approached differently and different aspects may be emphasized. More and more researchers [2; 8] are also attempting to analyze the impact of sharing on the economy, but there is still a lack of common definitions, clear links between innovations and sharing economy in tourism business.
Research aim: to identify the concept of sharing economy, it's features as well as causes and outcomes in the context of tourism business.
Method or methodology for conducting research. Scientific literature analysis method is used to achieve this aim.
Results of work. Literature analysis revealed that sharing economy is based on C2C based business model where innovations enable the sharing underutilized assets. Sharing economy is accelerated by technological development and lower cost. New trends also impact and transform tourism sector. There are some advantages and disadvantages for the sector.
Key words: innovations, sharing economy, innovations driven sharing economy, sharing economy business model, sharing economy in tourism
Аннотация
Стимулируемая инновациями экономика совместного потребления в туристическом бизнесе
Э. Семионовайте, Э. Баранскайте, Д. Лабанаускайте
Актуальность темы исследования. Внедрение инноваций происходит очень быстро из-за развития технологий, отношения общества и экономической выгоды. Это превращает традиционный бизнес в новые модели и формы. Одной из последних тенденций является экономика совместного потребления. Она очень быстро растет и внедряется во все сектора экономики. Один из самых больших темпов ее роста наблюдается в секторе туризма, в связи с чем существуют определенные вызовы как для общества, так и для науки.
Постановка проблемы: в литературе [7; 17; 18; 20; 34] все чаще имеют место дискуссии об экономике совместного потребления, ее преимуществах и угрозах, последствиях для традиционной экономики. Тем не менее, подход к сфере экономики совместного потребления в каждом секторе экономики может быть разным, и могут быть подчеркнуты различные аспекты. Все больше исследователей [2; 8] также пытаются проанализировать влияние совместного потребления на экономику, но все еще не хватает общих определений, четких связей между инновациями и экономикой совместного потребления в туристическом бизнесе.
Постановка задачи, цели исследования: определить концепцию экономика совместного потребления, ее особенности, а также причины и результаты в контексте туристического бизнеса.
Метод или методология проведения исследования. Для достижения этой цели используется метод анализа научной литературы.
Результаты работы. Анализ литературы показал, что экономика совместного потребления основана на C2C бизнес-модели, где инновации позволяют делиться активами, которые не используются в полной мере. Экономика совместного потребления ускоряется технологическим развитием и снижением затрат. Новые тенденции также влияют на сектор туризма и трансформируют его. Есть некоторые преимущества и недостатки для сектора.
Ключевые слова: инновации, экономика совместного потребления, стимулируемая инновациями экономика совместного потребления, бизнес-модель экономики совместного потребления, экономика совместного потребления в туризме.
Анотація
Стимульована інноваціями економіка спільного споживання в туристичному бізнесі
Е. Семіоновайте, Е. Баранскайте, Д. Лабанаускайте
Актуальність теми дослідження. Впровадження інновацій відбувається дуже швидко через розвиток технологій, ставлення суспільства та економічної вигоди. Це перетворює традиційний бізнес на нові моделі і форми. Однією з останніх тенденцій є економіка спільного споживання. Вона дуже швидко зростає і впроваджується у всі сектори економіки. Один з найбільших темпів її зростання спостерігається в секторі туризму, в зв'язку з чим існують певні виклики як для суспільства, так і для науки.
Постановка проблеми: в літературі [7; 17; 18; 20; 34] все частіше мають місце дискусії про економіку спільного споживання, її переваги і загрози, наслідки для традиційної економіки. Проте, підхід до сфери економіки спільного споживання в кожному секторі економіки може бути різним, і можуть бути підкреслені різні аспекти. Все більше дослідників [2; 8] також намагаються проаналізувати вплив спільного споживання на економіку, але все ще не вистачає загальних визначень, чітких зв'язків між інноваціями та економікою спільного споживання в туристичному бізнесі.
Постановка завдання, мети дослідження: визначити концепцію економіка спільного споживання, її особливості, а також причини і результати в контексті туристичного бізнесу.
Метод або методологія проведення дослідження. Для досягнення цієї мети використовується метод аналізу наукової літератури.
Результати роботи. Аналіз літератури показав, що економіка спільного споживання заснована на C2C бізнес-моделі, де інновації дозволяють ділитися активами, які не використовуються в повній мірі. Економіка спільного споживання прискорюється технологічним розвитком і зниженням витрат. Нові тенденції також впливають на сектор туризму і трансформують його. Є деякі переваги і недоліки для сектора.
Ключові слова: інновації, економіка спільного споживання, стимульована інноваціями економіка спільного споживання, бізнес-модель економіки спільного споживання, економіка спільного споживання в туризмі.
Introduction
Innovations promotion by governments and private business causes the fast adaptation of modern technologies. The usage of Internet in 24 years increased by 49,47% to 49,72% (of the population) in 2017 [32]. And it is expected to increase even more. The increase of ICT and innovations penetration introduces not only new tools for a more comfortable life but also shapes business processes and even all economy. Increasing access to internet and online tools create a favorable condition for sharing economy - a new way approach to ownership of things and their distribution. Sharing economy is still a new phenomenon in today's economic environment where millennials are becoming the biggest purchasing power in the world. Millennials are disposing a little bit limited resources, also grew up in a rapidly changing environment, surrounded by technologies, they are comfortable to accept new economic models such as sharing economy. The ideal sector for sharing economy is tourism sector as it is based on short time rental. This sector is actively used by technology-based society which is open for sharing economy. As sharing economy is relatively new model, the impact to traditional businesses is a little bit unclear. The discussions about the sharing economy, its benefits and threats, implications for the traditional economy are increasing in the literature [7; 17; 18; 20; 34]. However, the scope of sharing economy in each sector of the economy may be approached differently and different aspects may be emphasized. More and more researchers [2; 8] are also attempting to analyze the impact of sharing on the economy, but there is still a lack of common definitions, clear links between innovations and sharing economy in tourism business.
The aim of this paper is to identify the concept of sharing economy, it's features as well as causes and outcomes in the context of tourism business.
Scientific literature analysis method is used to achieve this aim.
The relation between innovations and sharing economy
economy joint consumption tourism business
Despite the fact, that there is no single definition of sharing economy, it was founded that the sharing economy is the sharing of underutilized assets, with the help of information technology [3; 6; 12; 15; 28]. It is part of digital economy and common consumption, however, separated from rental, demand and «Gig» economies. The closest definition to the sharing economy is common consumption, since in both cases individuals rent their underutilized assets. Common consumption is more about how we consume, and sharing economy is about sharing underutilized assets with the help of information technology.
From the two main business models of the sharing economy: business-to-consumer (B2C) and consumer-to-consumer (C2C) [29], authors [13] refer to sharing economy enterprises only as those that implement accessible consumer-to-consumer (C2C) business models.
Most authors [3; 6; 15; 18; 28] in one or another way agree that the key factor is innovation driven online platforms that were not possible some time ago. This type of business model is not limited to specific industry sectors because in theory it can act as an intermediary between consumers for any consumer-owned product or service. However, today sharing economy is the most active in tourism industry [2; 8; 21; 22; 31; 32].
The main features of sharing economy are related to cost and resources:
- Lower transaction costs [9].
- Negotiation Costs [24].
- Control and Enforcement Costs [14].
- Access instead of ownership.
- Consumer-to-consumer (C2C).
- Allocation of unused resources [11].
Sharing economy is caused by several different factors:
- Increasing Internet and smartphone penetration [16; 19; 26].
The importance of mobile communication becomes even more evident in the travel context: as travelers leave their laptops and tablets at home, the main competitive advantage now is smartphone [26].
- Technological advances in areas such as information technology platforms and big data analytics.
While asset sharing is not a new thing, but the creation of matchmaking, market platforms that allow user-to- user communication is an unusual, innovative development. This communication can be mediated by companies that have their own platforms or by individuals who use existing social networking sites, Facebook, or build own apps using open-source software to organize own cloud sharing activities. In addition, there are startups that use big data analytics to match supply and demand and even use advanced algorithms for pricing and forecasting demand. For example, Uber uses huge data warehouses to predict where and when a customer will want a car, and to raise prices when demand is high [16].
- Global Recession [10; 16; 19].
The biggest advantage of the sharing economy is saving money. This is particularly important in times of economic crisis, when people lose purchasing power and at the same time gain awareness of purchasing decisions, emphasizing practicality in terms of consumerism [19].
- The reduction of entry barriers also allows the sharing economy to expand [16; 30].
The barriers to entry in the sharing economy are relatively low because individuals can easily and cheaply create a sharing service or platform [16].
- People's concern for the environment and downward trend in consumption [16; 19]. People have begun to realize that owning an item that they will only use for a limited time makes less sense than simply owning access to the item [16].
- Increased transparency [5; 16].
The sharing economy not only changes the way traditional hotels work [27], and the behavior of guest guests [25] but the sharing economy brings benefits to all stakeholders, including the consumer, vendor / entrepreneur, and platform:
- Skills development.
- Digital Literacy [5].
- Increased employment opportunities [4].
- Sustainability [1].
- Use of public resources and public expenditure [23; 36].
The sharing economy has both positive and negative economic effects. A research [15] in the United States also shows the negative effects of the sharing economy. Airbnb has a negative impact on hotel revenue in cities where hotel capacity is limited and the impact is more on price than quantity. Without Airbnb, hotel revenue would be 1.5% higher. The results of other study [35] show that Airbnb's entry into the Texas market had a negative impact on local hotel revenues.
Summarizing it can be stated that Sharing economy is driven and supported by internet-based technologies as in general the phenomenon appeared only when there was a possibility to link consumer-to-consumer. It is mostly spread in tourism industry because of industry specifics and consumers' attitude. There are various other factors promoting sharing economy such as lowered cost and access barriers, increased transparency. The benefit is a little bit wider as sharing economy impacts not only to skills development, higher employment possibilities but also sustainability which is very important when facing global warming challenges.
Conclusion
Sharing economy concept is still being shaped. However, it may be defined as C2C based business model where innovations (such as online platforms) enable the sharing underutilized assets. Sharing economy is accelerated by technological development and the need for users/customers need to lower cost (transaction, negotiation, control). Tourism sector is convenient for sharing goods. New trends also impact and transforms the sector. The benefits for sector include skills development, digital literacy, employment opportunities, sustainability, usage of public resources and economic effect. It should be pointed that economic effect sometimes may be negative as well.
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