Trend: Disownership

It's true. The connected economy is disrupting everything about the way we live, work and build relationships. It's also changing how we purchase, and what we purchase.

“52% of Americans have rented, borrowed, or leased the kinds of items that people usually own in the past two years.”

— Sunrun

Ownership was a concept once synonymous with the American Dream. Every individual (or family) had the ability to become upwardly mobile, and to own their own house, car, microwave and television.

And then that ownership proliferated even further as our economy made significant strides forward through consumerism, suburbanization, and the purchasing of material goods.

Now, we are reaching a tipping point as consumers. People are moving back to cities in droves. And there is less need for more material goods (and less space!)

Paired with instant connection and access, made possible by our technological innovations (smartphones, WiFi, etc.), consumers have realized that ownership is not necessary, but that sharing is key.

Much of our spending is shifting from actual physical products to services.

Instead of purchasing and owning a car, consumers choose to pay for a service, like Zipcar, that allows them to have access to a car whenever and wherever they might need it - but only when they need it.

What is disownership? It means sharing, renting, borrowing or making similar alternative arrangements to gain access to traditionally-owned items—without the expense or hassle of owning them.

Living first in rural Ohio, and then moving to the city of Chicago, I have firsthand experience dealing with this shift in mindset, and shift in needs. Zipcar is available whenever I need it for a modest fee, so why would I need to own a car?

Are there products that you now purchase as services?