The sharing economy is maintaining popularity with many consumers seeking ways to save money or make additional income with items they already own, which is seeing new services like 'RYDE' come about.
Positioned as a peer-to-peer (P2P) car rental service, the platform enables consumers to rent cars directly from owners to access higher end vehicles at a much lower cost. Owners can rent out their ride on a daily basis to draw in additional income on a vehicle they already own, while renters will appreciate the cost savings when looking to borrow a higher end car.
The 'RYDE' car rental service backs owners with premium insurance to ensure their vehicle is protected, while the door step delivery option offers renters quick access to a luxury car.
P2P Car Rental Platforms
'RYDE' Lets Drivers Access Higher-End Vehicles at a Low Cost
Trend Themes
1. Peer-to-peer Car Rental - Disruptive innovation opportunity: Develop a platform that connects car owners with potential renters, enabling them to rent out their vehicles for additional income.
2. Sharing Economy - Disruptive innovation opportunity: Create a platform that allows individuals to share their personal assets and earn money by renting them out.
3. Cost-saving Solutions - Disruptive innovation opportunity: Design a service that offers consumers access to higher-end products or services at a more affordable price point.
Industry Implications
1. Car Rental - Disruptive innovation opportunity: Integrate P2P car rental platforms into traditional car rental companies to offer a wider range of vehicles to customers.
2. Insurance - Disruptive innovation opportunity: Develop insurance plans tailored specifically for P2P car rental platforms to provide coverage for both owners and renters.
3. Delivery Services - Disruptive innovation opportunity: Establish a quick and efficient door-step delivery service that caters to the needs of peer-to-peer rental platforms, allowing renters convenient access to their desired products.