Friday, 18 November 2016

my personal experience with the sharing economy

Being financially independent at the mere age of twenty is difficult, especially in Singapore where the cost of living is so high. Back in 2014, I was made aware of a mobile lifestyle application Carousell. Carousell is a peer-to-peer online marketplace where practically anyone could sell their secondhand items.

Initially when I started out using the application, the things I bought were mostly brand new items. At that point in time I found the idea of purchasing something that was used by someone else to be quite uncomfortable. After I got the hang of it, the buying and selling process became almost addictive - everyday I would log in and check Carousell to see if there were any potential buyers interested in my product. 

In the past two years, I have sold many items - from secondhand clothes, textbooks, watches, an air purifier and even my old fish tank! Through meeting up with buyers or sellers, you not only get to check the physical condition of the good (secondhand items especially), but it also gives you a chance to strike a conversation with someone of a common interest with you. This also allows the fostering of unconventional friendships, and also builds a community with people of similar interests and hobbies.

 I have since leveled up from selling secondhand items - now I hold pre-orders and also supply items to buyers. Having such a platform allows me the flexibility to juggle between school work and having a part time 'business'. Many students especially are jumping onto the Carousell bandwagon as it is a good way to earn some pocket money. Students like myself often have busy schedules with projects and deadlines. Starting out a small business like an account on Carousell allows one to experience what it is like to potentially run your own business in the future. 

To be successful in the sharing economy, it is essential to be backed up by positive reviews. This is especially so when competition is high. As the things I mostly sell are clothing items that are currently in trend, there are many other sellers selling similar or even identical items. As such, reputation and price becomes a determining factor during the buyer's decision-making process. Thus, sellers often go the extra mile to ensure that the transaction is smooth. For example, sellers may travel to the convenience of buyers, provide free mailing options and even give discounts for quick deals. These small actions can significantly help boost the reputation of a seller, and may even encourage past buyers to come back for more. 

A downside to being an active member in Carousell would be that we can never predict what kind of buyers we meet. There are nasty sellers who sell secondhand items and claim that the condition is as good as new, but when buyers receive the item, it is almost unwearable. There are also people who arrive very late during meetups, or even worse do not turn up. Despite this, there are improvements that are being made to ensure a smooth transaction between the buyer and seller. Once a seller accepts an offer made by a buyer, both of them can now exchange feedback with each other. This acts as a measure to ensure both the buyer and seller make a successful transaction to prevent having a negative review being left on their profiles.

Carousell is a good platform to start selling as everyone is welcome. There are many categories from clothes, furniture, luxury items, cars and even homes for rent. It has groups and communities where people can join, and has many filters that can be tailored to the needs of users. I have greatly benefited from the invention of Carousell and other sharing companies like Airbnb and Uber. Although no company is perfect, it looks like companies in the sharing economy are here to stay, and we should do our best to ensure that the welfare or people and the environment is kept at a priority such that we can all benefit from a shared model in the long run.  

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