A new trend driven by increasing access to fast broadband is transforming the way Australians view material possessions as people forego ownership to experience products and services on-demand.
Coined the ‘Access Economy’, this new movement is allowing Aussies to temporarily consume goods and services online without needing to purchase them outright.
According to new figures from Telsyte more than one in three Australians have already tapped into the ‘Access Economy’ with applications such as Uber, Airbnb and Airtasker helping consumers to save money, increase convenience and have more choice.
Telsyte also predicts our usage of simultaneous apps in the home will grow by 50 per cent from eight to 12 by 2020 as Australians rely on fast broadband via the nbn™ network to run these services at the same time.
What is this “Access Economy”?
Consumer Psychologist, Adam Ferrier said: “The Access Economy is thriving in Australia because people care more about convenience and lower cost options than they do about owning possessions outright. Sharing or just paying for access doesn’t mean missing out. For example, why rent a car when the Access Economy makes getting lifts everywhere so easy and affordable. The same goes for movies, music, holiday rentals, clothes, garden tools and even pet sitting.
“For consumers, the Access Economy is increasing value by reducing these costs. Access to fast broadband via the nbn™ network means we’ll see more people using on-demand services and entering a world of goods and services anytime, anywhere and at a touch of a button.”
Telsyte Managing Director, Foad Fadaghi said: “Disruptive new services have significantly grown in popularity with nearly a third of Australian adults now regularly using services such as ride sharing, accommodation sharing or services that tap into people sharing their time, expertise, or experiences to perform household tasks, deliver foods or review businesses.”
What did the Telsyte study find out?
The Telsyte Australian Digital Consumer Study 2017 reveals:
Connected commuters: Ride sharing users have grown around 82 per cent in the past 12 months, with nearly two million Australians now using services such as Uber and GoCatch. More than half (62 per cent) of these people use them at least once a month to get from A to B.
Food for thought: Food delivery has grown 40 per cent in the last year with more than three million Australians turning to services such as Menulog and Deliveroo to find the best restaurant cuisines delivered to their homes.
Getting the job done: Almost half a million Aussies are turning to services such as Airtasker to forego chores like furniture assembly, gardening and cleaning with almost half (44 per cent) claiming to use the services at least once a month.
A new way to holiday: More than three million adventure seekers are using accommodation rental services such asTripAdvisor and Airbnb to take the stress out of holiday planning.
Content on-demand: Uptake of subscription video on-demand (SVOD) services delivered over the internet continues to grow in Australia with 2.7 million active subscriptions at the end of June 2016. This represents an annual growth of 46 per cent.
What is nbn all about?
nbn is building a new and upgraded, fast wholesale broadband network to enable communities across Australia to access fast broadband from their retail service provider. Our goal is to connect eight million homes and businesses by 2020.
Fast broadband like that delivered via the nbn™ network can provide a range of benefits for Australians such as opportunities to work from home, access to online education tools and options for on-demand entertainment.
End-user experience, including the speeds actually achieved over the nbn™ network, depends on the technology over which services are delivered to your premises and some factors outside our control like equipment quality, software, broadband plans, signal quality and how the end-user’s service provider designs its network.
There are more than 3.7 million homes and businesses around the country which can already connect to the nbn™ network with the rollout scheduled to be complete by 2020.