The sharing economy is changing with the coming of age of Generation Z, as businesses struggle to balance the needs of established shoppers and younger consumers. Another challenge is the increasing preference of Generation Z toward social media marketplaces that eschew established eCommerce platforms, causing companies to change tactics. And, at the same time, buyer payments and seller payouts are evolving as the sharing economy grows. All this, Today in Data.
Data:
2019: The year a new law was passed that reclassified many contractors as employees.
$154B: Expected value of payments platforms by 2025.
81 percent: Portion of survey respondents who use Instagram as a retail search tool.
79 percent: Share of merchants that feel vulnerable to web payment fraud.
40 percent: Portion of all global shoppers expected to come from Generation Z by the end of 2020.
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