The authors have focused on the transformation witnessed in the marketing world from exclusive ownership-driven consumption to sustainable shared consumption. The empowered consumers today realize the attitude of collective ownership toward the larger canvas in terms of environment, society, and well-being, resulting in a drive toward collaborative consumption (CC). This shift is fuelled further by technology and its influence on digital consumers. The authors draw upon past research to explore the concept and discuss its dimensionalities, motives, and consequences in this chapter. With various service providers/brands venturing into the space of CC, this chapter brings in the practitioners’ perspective through multiple case examples. The chapter introduces the concept of collaborative consumption under the domain of sharing economy. Based on the existing research, the chapter covers the definition of collaborative consumption, the nature of collaborations, and the process of it thereby.
Prof Ranjitha GP, a faculty member in the Marketing Area at IIM Nagpur, has contributed to the Book ‘Dealing with Socially Responsible Consumers’ published by Palgrave Macmillan. Prof. Ranjitha and Krishnan Jeesha, Indian Institute of Management, Lucknow, India, have co-authored the chapter titled ‘Collaborative Consumption: The Future of Sharing Economy’ for the book.