1. Other product markets where consumers are sharing, borrowing, or renting instead of owning are, books and clothes. Books can be rented online. Students who don't want to keep the books their lifetime use the rented books to study in that particular semester. The lenders who have already purchased the book lend to books and earn money from it.
Similarly, clothes are also rented nowadays. Clothes like gowns, etc which re not worn daily, people sometimes rent it. It's easier for both the lenders and borrowers. Lenders who have purchased the gowns or any expensive clothes could rent it and compensate the money which he/she gets from rent to the amount with what it was bought for.
2. People rent book or clothes because renting is much cheaper than buying if the goods are to be used only once. It's better for the borrower to rent the goods. Again, it's better for the lenders as the money which they get from the rents compensates the money they spent on buying the goods.
Ethical issues might be related that renting or borrowing goods might spread a communicable disease. Secondly, renting does not imply a high standard of a person so renting or borrowing does not work for them who maintains a high standard of living.
What's Next? Will sharing replace owning? In much of the United States and Europe customers have...
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