Privacy exposure is the top concerns in China’s sharing economy according to a Tencent survey. And, the financial gain is the top gain to 70% owners surveyed.
Top valuable features of renting and sharing platforms to the owners are privacy & security, mature mutual credit rating system, and convenient and secure payment system.
72% Chinese users value the financial return most in the sharing economy in China. 19% think they want to rent to make new friends.
The security and privacy risks are the top concerns for Chinese (63%). Among those who don’t want to rent, “Don’t like strangers using their own stuff” is the top concern (42%), followed by security and privacy. Whether they agree to rent or not, many think the renting process is troublesome and time-consuming (17%).
42% Chinese who agree to rent expect the renting price to be 50%-90% of the market price. Only 3% renters expect the price to be 50% higher than the market average.
In terms of the renting duration and seasonality, 45% renters expect to have their apartment/rooms/car rented for the long term. Renters who hope to rent regardless of the seasonality account for 84%.
Renters who value the credit rating system account for 76%; and, 23% hope to rent to someone “who’s similar”. Only 1% would like to rent to someone “who’s different”. 53-50% renters never mind nationality of the users while 37% renters prefer locals and 9.5% prefer foreigners.
38% renters show no preference of renting platforms. the number of renters who prefer vertical renting platforms (35%) is 8 percent higher than that of preferring big and comprehensive platforms (27%).
The sharing economy is changing pure consumers to prosumers, which will hit the producer, but also promote enterprise transformation as well as innovation. The conflict between privacy protection and good services is also a big opportunity for new businesses.