This post originally appeared in the August 2015 issue of Hardware + Building Supply Dealer.
As much as I hate shoveling snow, I can’t possibly justify spending upwards of $500 on a snow blower that I might use five days a year and would take up space in my garage for the remaining 360.
According to a recent PwC study, 43% of consumers agree that “owning feels like a burden.” When you consider the cost, maintenance and storage requirements, buying things is kind of a pain. It’s no wonder, then, that the “sharing economy” is estimated to be $110 billion (and growing fast), according to a November 2014 Leo Burnett study. Whether it’s Netflix, Spotify, Zipcar, TaskRabbit, Uber or Rent the Runway, there’s another, arguably better, alternative to ownership for virtually every aspect of our lives.
In a world where people don’t aspire to own their own homes or even openly despise the idea of owning a car, where does that leave the tool, yard care and appliance markets? (more…)