A THREE GENERATIONAL STUDY OF PRODUCT PREFERENCE AND MOTIVATIONS TO PARTICIPATE IN THE SHARING ECONOMY
Keywords:generation X, generation Y, generation Z, motivation factors, sharing economy
The sharing economy is a trend that is catching the attention of people and companies all over the world. It is expected to replace the traditional model of buying and selling into sharing. However, there is a lack of literature focusing on the relationship between motivational factors and the attitudes of different generations towards the sharing economy and on the type of products different generations are willing to share in a sharing economy. This paper aims to fill this knowledge gap and examine these relevant variables together. With a sample size of 741, the study focuses on the three generations: X, Y, and Z. It was conducted from December 2021 to March 2022. The non-parametric Kruskal-Wallis test and descriptive statistics were used to analyse the collected data. The results of the study revealed that the respondents from different generations are willing to share different assets. Except for only two asset groups, the willingness to share these assets does not depend on the generation of the respondents. The research also indicated that the respondents across different generation have the same motivating factors for participation in the sharing economy. The findings of the study offer valuable insights for the platforms facilitating sharing of unused assets. It will help them to target their marketing communications effectively. Simultaneously, these findings will enhance the theoretical knowledge about the sharing economy with factual information that links it to marketing, as marketing literature concerning the sharing economy is still in its infancy.
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