Influence of Peer-to-Peer-Based Exchange on Creating New Business Models

Abstract

One-to-one communication and business concepts which emerged in the period of introducing information and communications technologies (ICTs) in business in the dawn of the New Economy of the early 2000, quickly shifted to "many-to-many" and further on to "peer-to-peer" exchange and collaborative consumption, pushed by the expansion of social networks, and the strong influence of economic and social factors. The sense of urgency as a result of rapid population growth and resource depletion provoked the need for establishing savvy business models that will support clever resource use by utilizing peer-to-peer exchange. Moreover, the purpose of this paper is also to present and analyze new business models which support collaborative consumption as an important alternative for reestablishing customers' trust and loyalty in organizations. Collaborative consumption as peer-topeer-based access to creation, production, distribution, consumption and trade of goods, services and information has become of high importance in business since it proved to bring lower costs of economic coordination within online communities, to speed up the pace of communication among reference groups of consumers, to contribute stronger communities, and to encourage sustainable development.

Conceptualizing the Sharing Economy through Presenting a Comprehensive Framework

“…Liu and Yang (2018) believe that developing SE is a way towards the adoption of sustainable lifestyles [58]. Stanković et al (2016) believe in equal levels of importance for economic, financial, ecological, and social values in the sharing economy for value sharing and creation [121]. The aim of SE from the standpoint of Muñoz and Cohen (2017) is "to increase efficiency and optimization of under-utilized resources in society" [50] (p. 1).…”