Page 18 - The EDIT | Q1 2017

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Discovery
Own the moment. Not the dress.
The Surplus Economy
We’ve all heard of how the gig economy — Airbnb, Uber — have significantly shifted market economies. Today, we are seeing popularity grow for another interpretation of the gig economy — the surplus economy.
The fundamental product being sold here is the surplus of any fixed asset — from loaning
of home tools or dresses, to turning nightclubs into daytime workspaces.
Sharing is Caring
In this new economic landscape connects people and resources and allows people
the opportunity to monetize their underutilized assets. Not only does it facilitate a social exchange, it also encourages a level of thriftiness as well as reduce waste (to an extent).
Some examples include ‘Favour’, an app that links busy individuals with part or full time ‘runners’
to help buy everything from
groceries and clothing to office supplies. ‘Parkatmyhouse’ allows users to rent out their private parking spots to those looking to avoid exorbitant parking fees. And maybe taking things to the extreme — Leftoverswap, allows you to give away your left over food instead of throwing it into the bin!
Did you know?
Seoul has been a regional leader in creating shared economy platforms. As early as 2013, the city passed a number of ordinances and local laws to facility the spread of sharing practices, spending roughly US $260,000 to support community building around the ‘sharing economy’. At the core of this collaborative economy is an organization called CC Korea (Creative Commons
Korea). CC Korea operates ShareHub, which serves as a knowledge bank and resource platform for all things collaborative in Seoul.
Some services include Dreaming Acorn, a platform for sharing baby and maternity clothing; and Recycle City, which allows people to trade any used items they no longer need to miscellaneous daily goods.
THE EDIT ISSUE 05 | Q1 2017