Know how 2017 is going to be the year of the ‘Access Economy’ in Australia

Have you ever heard the term “Access Economy”? You may not have heard it but unknowingly you are taking full advantage of it. While using the services of apps like Airbnb, Airtasker, Uber, etc, you are already contributing to this fast evolving market.
Access Economy is a business model, based on temporary ownership, not permanent ownership. This enables Australians to temporarily use goods and services online, without needing to buy them outright, helping them save money in a convenient way.

According to Telsyte, 1 out of 3 Australians have already tapped into this new movement by using applications like Uber, Airbnb as well as Airtasker.

This new trend is largely driven by our access to fast broadband. It helps us get in touch with people who are offering alternative goods and services that are not exactly what we would get from traditional, big companies.

“The Access Economy is thriving in Australia because people care more about convenience and lower cost options than they do about owning possessions outright. Sharing or just paying for access doesn’t mean missing out. For example, why rent a car when the Access Economy makes getting lifts everywhere so easy and affordable. The same goes for movies, music, holiday rentals, clothes, garden tools and even pet sitting”, said Adam Ferrier, Consumer Psychologist.

“For consumers, the Access Economy is increasing value by reducing these costs. Access to fast broadband via the nbn™ network means we’ll see more people using on-demand services and entering a world of goods and services anytime, anywhere and at a touch of a button”, he added.

Know What Telsyte Australian Digital Consumer Study 2017 Reveals

  • The popularity of vacation rental sites is exploding in Australia. Today over three million Aussie travel buffs are using vacation rental services like Airbnb and TripAdvisor in order to take the stress out of planning a holiday.
  • Food delivery apps are now booming in Australia. There has been a 40% increase in food home delivery service in the last year. Today over three million Aussies are turning to services like Menulog & Deliveroo in order to find the best restaurant that provides home delivery.
  • In the last 12 months, ride sharing users have grown around 82% in Australia, with about two million Aussies using services like Uber & GoCatch. More than half of these users use them at least once a month to go to a particular destination.
  • Today almost half a million people in Australia are turning to services like Airtasker to get their job done like cleaning, gardening, furniture assembly, etc with over 44% claiming to use the services at least once a month.
  • Uptake of SVOD services or subscription video on-demand services has been growing rapidly in Australia with over 2.7 million active subscriptions at the end of June 2016 which shows an annual growth of 46%.

Conclusion

Today these comforts are only possible in Australia due to the new broadband network, the nbn™ network, which is a digital innovator in its own right. Due to its high quality connection, people of Australia are able to take the advantage of this fast growing market. This will certainly help the Access Economy to be at the forefront of Australian innovation in 2017.