New research shows more Americans are becoming more trusting of non-traditional travel services like Airbnb, Uber and Lyft this summer. According to data culled by Allianz Global Assistance on Americans intent to use and trust these services, 36% of Americans say they are likely to use sharing economy services during their summer vacations in 2016. That number is double what it was last year, when only 17% of Americans said they were likely to use these services.
Not surprisingly, millennials aged 18-34 plan to use the sharing economy more than any other age group. Sixty-five percent of millennials say they are likely to use the services (up from 37% in 2015). Meanwhile, 38% of Americans making an annual income of $50,000 or more plan to use the sharing economy. Thirty-two percent of Americans with an income less than $50,000 intend to use the services.
Familiarity of sharing economy services in 2016, per the Allianz study:
- Uber (62% of respondents were familiar)
- Airbnb (35% familiar)
- Lyft (34% familiar)
- HomeAway (18% familiar)
- GetAround (11% familiar)
- Feastly (10% familiar)
The report shows that familiarity with non-traditional travel transport methods is rising, even for Americans over 55. Forty-nine percent of people 55 and older are familiar with sharing economy services. This number is up 20 percent from last year.
This year, 48% of Americans reported finding such services to be trustworthy, which is only a slight increase in last year, rising from 44%.
“There [is] significant growth in use, familiarity and trust of the sharing economy over the last year showing that these services are not a fad and have great potential for longevity,” said Daniel Durazo, director of communications at Allianz Global Assistance USA.
Value vs. experience in sharing economy services
While 26% of Americans feel that the sharing economy provides a better value than traditional services, the data shows that they still prefer using online services like Expedia.com or a travel agent or booking directly with a hotel or restaurant—namely, for the best experience (25%) and for customer support when things go wrong (40%).
Do you trust the sharing economy? Which travel service do you rely on and use most often?
Disclaimer: Johnny Jet works as an ambassador for Allianz Global Assistance (AGA Service Company) and receives financial compensation.
For more information about Allianz Global, visit AllianzTravelInsurance.com.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.