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.