Familiarity with brands and trust have triggered what is anticipated to be a doubling of travellers opting for services such as Airbnb, Uber, Lyft et al this year.

The study by Allianz Global Assitance of travellers in the US also found that those with annual incomes over $50,000 (38%) are most likely to use such products, compared to 32% for those under $50,000.

Year-on-year the growth is strong, with figures showing an overall growth up from 17% of respondents planning on using a sharing economy-led product in 2015 to 36% this year.

Within the 18 to 34 age group, some 65% will embark on a sharing economy service compared to 37% in 2015.

Results for the familiarity that consumers have with specific brands were as follows:

1. Uber – 62% (up from 27% in 2015)
2. Airbnb – 35% (up from 19%)
3. Lyft – 34% (up from 18%)
4. HomeAway – 18% (up from 10%)

A breakdown of service preferences:

Allianz says:

“The playing field is quite level with many Americans having an uncertainty about which services provide the better experience, which opens an opportunity for the lesser known sharing economy to take a bigger stake as awareness continues to increase.

“There was already significant growth in use, familiarity and trust of the sharing economy over the last year showing that these services are not a fad and have great potential for longevity.”

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