Monday, 19 June 2017 22:34

Millennials Embrace Sharing Economy, But….

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Millennials are different than older generations in many ways. The generation gap is even wider when it comes to the sharing economy. Millennials embrace the sharing economy at three times the rate of older adults. Millennials are more likely to use a space to stay, like Airbnb, or use professional services, like tax preparation, than people ages 35 and older. While Uber and Airbnb are what many people think of when they think of the sharing economy, the market is more varied than that.

This may be an early indication that the next generation of digital services will be more acceptable to millennials. Robo-advisors for financial consulting and digital healthcare are being tested. For health care, virtual visits, second opinions and digital medicine delivery were most accepted by patients. When it came to robo-advisors, even the millennials had second thoughts. Only 48 percent would access digital advisors for basic financial information. However, the blended method of personal financial advi-sor with digital support was more successful doubling the success rate for investing.

—Source: Maru/Matchbox

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