One of the emerging sectors which is raising its head across the Internet is the Sharing Economy. There is a growing trait in the younger generations (Gen Y now and Gen X in the future) where the materialistic need of previous generations has gone and they are happy to borrow, rent or lease the items in their life.
Although these types of sites have been around for a while, the change from physical to consumption models originated with the music industry with sites like Spotify and Pandora however this has recently spawned across other sectors where you can borrow or rent items from others. In addition to Music there are sites where you can share a car, bike, a lift, a parking space, a room in your house and even a dog J. Due to this increase in sharing the UK government is starting to look at the personal tax allowances given to these activities to reflect this growing trend. Even BIBA (British Insurers Brokers Association) has started to take note and has created a guide on the benefits and risks of the sharing economy. This sleeping disruptor is certainly going to change the way people consume goods and the answer is no longer if but when this disrupts the marketplace, once the big questions around insurance, legality etc are solved we will find that we are all setting free our materialistic urges and sharing the things we need.