Sharing Economy

An economic model focused on sharing or providing access to underutilised goods and services, generally facilitated through online platforms.

[noun]

An economic model focused on sharing or providing access to underutilised goods and services, generally facilitated through online platforms. It is a flexible peer-to-peer network that can be used to combat overconsumption, resource and material waste, and the perception of ownership; instead encouraging community engagement and sustainability.

e.g. The new report published by the Ellen MacArthur Foundation cites a sharing economy as a possible solution to sustainability issues in the fashion industry because it can reduce overproduction through utilising existing materials.