Sharing economy and it's effect on consumption habits of Chinese millennials

Abstract

The objective of this paper is to study the impact of the development of sharing economy on the consumption habits of Chinese millennials. In particular, the motivation and participation of Chinese millennials in the sharing economy is the focus of this paper. Sharing economy depends on Internet technology, and young people are the important customers who use online applications. Therefore, the impact of sharing economy on Chinese millennials’ consumption habits is worth studying. A quantitative study was applied and a questionnaire was developed with 221 respondents. Using SPSS, the motivation and participation of Chinese millennials were analyzed by gender division, and proved that gender is not an important factor af ecting the consumption habits of millennials in the sharing economy. Chinese enterprises committed to the sharing economy are the beneficiaries of this study, through which they can understand the dif erent impacts of dif erent sharing economy models on Chinese Millennials. At the same time, enterprises can optimize and adjust their market segmentation and business plan according to this study.