Millennials like it Crowdfunding

According to the main findings from the latest whitepaper published by the market research house Maru/Matchbox, 17% of Millennials uses crowdfunding compared to 7% of people aged 35+.

This is in line with the general approach to sharing economy which is where the generation gap gains more evidence as

Millennials are engaging with most aspects of the sharing economy at a level that is roughly three times greater than those who are over 35.

However, the research points out that

there is less of a gap between the level of trust and usage than we see with older age groups. This suggests that to increase millennials usage the trust issue must be addressed.

In fact, research tells us that 9% of American consumers said they were “very trustworthy” and about 22% said they were “somewhat trustworthy.”

What is striking is how closely trustworthiness and usage parallel each other. When trust is low, usage is low. When trust is high, usage is high.

Nonetheless,

the fact that these Millennials persist as users suggests there must be a reason for their continued engagement.

which founds its roots in the fact that they

use the sharing economy to conserve two precious things: time and money.

However, according to a forecast by eMarketer, projects growth in participation in the sharing economy to trail off to 10% in 2018 and fall to just 7% in 2020.

So, has the cooling off period commenced?

Let’s find that out here.