Abstract:

Collaborative consumption or sharing of resources has always been an important part of human life. When collaborative consumption and digital technology collided, it gave rise to a new economic paradigm known as digital collaborative consumption. The emergence of digital collaborative consumption has paved the way for individuals to shift from conspicuous to conscious consumption of existing resources.The paper aims to discuss the various prospects of digital collaborative consumption and its role in promoting conscious consumption. The paper uses affinity mapping to describe the various areas, players, activities, channels, financial feasibility, and value propositions related to digital collaborative consumption. It also emphasizes the three levels of the collaborative consumption ecosystem. The paper concludes that digital knowledge and trust are pivotal for collaboration through digital techniques. It also suggests that digital techniques should reach the grassroots level for encouraging collaborative consumption at a larger scale.

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