Research discovers that half the UK’s population buys into a sharing lifestyle

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Zipcar, the UK’s largest pay-as-you-drive car club, has published a new report into the way we live in the UK today. The report ‘Pay-As-You-Live: The Business of Sharing in the UK’, reveals that the UK’s younger generation (aged 18-54) is fuelling the growth of a Pay-As-You-Live lifestyle (PAYL). According to the report almost twice as many Brits aged between 18 and 54 would choose to hire rather than buy, compared to those aged 55+ who place a higher value on ownership.

The report reveals that the trend towards hiring and sharing is accelerating rapidly across the UK, with one in five under 55’s saying they are more likely to hire now than they were a year ago, equating to almost double the number of those aged 55 and over.

The findings suggest that the pay-as-you-live model of consumption is being driven by a smarter and more considered approach to spending. It reveals that Brits are taking longer to consider purchasing decisions with 66% acknowledging that they are taking more time making big financial decisions than they did before the recession (Oct 2008) and three in five (60%) admitting that they are working out the cost per use when deciding to hire something over buying it outright.

Mark Walker, General Manager, Zipcar UK, said: “A number of years ago we noticed a paradigm shift in thinking, away from a desire to own assets to a more collaborative wish to access services, which is more sustainable in the longer term. We spotted a gap in the market for a new car hire model with collaboration at its heart: a pay-as-you-drive model for a pay-as-you-live lifestyle. This is made possible by new technologies and a desire amongst our members to simplify and improve the way they get around, on a trip-by-trip basis.”

The research also highlights advances in technology and self-service business models as catalysts for fuelling this shift. It found that almost one in three (31%) of the PAYL Generation believe that advances in technology have helped to facilitate the proliferation of the pay-as-you-live lifestyle.

More info
Zipcar’s report “Pay-As-You-Live: The Business of Sharing in the UK” was commissioned by Zipcar in conjunction with YouGov and the Future Foundation to uncover attitudes to hiring and sharing across the UK. It features a number of UK case studies of brands facilitating the pay-as-you-live lifestyle in the UK including, Zipcar, onefinestay, Girl Meets Dress, Desk Wanted, Mini Lodgers, Storemates, Park at My House and Rdio.

Download the report at http://zipcar.uk.mediaroom.com/pay-as-you-live

About Zipcar
Zipcar UK is part of the Zipcar Inc, the world's largest pay-as-you-drive car club with over 731,000 members and more than 11,000 vehicles in urban areas across the United Kingdom, United States, Canada, Spain and Austria.

In the UK, Zipcar operates in London, Bristol, Cambridge and Oxford and has local authority partnerships in Kent and Surrey. London is the largest Zipcar network in the UK, with over 1,500 cars across 31 London boroughs. Members benefit from: 40 miles of fuel, insurance, maintenance, roadside assistance, road tax and the Congestion Charge when travelling in London.

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