People who have witnessed the advent of the shared economy would certainly not have predicted this – that it would account for $20 billion in global revenue in just 10 years. In a poll published by Times, estimated that 42% of Americans have used a sharing economy service, and 22% have, at some point, provided one. The most common of these services are mobility services, such as Uber and Lyft; and hospitality accommodation services, like Airbnb.
In 2014, Airbnb was attributed as the cause of hotel profit reduction by 3.7%. Uber, on the other hand, controls over 80% of all ride-sharing market in the US. People are, through time, more and more dependent on shared economy services. These companies also provide a long-needed overhaul of traditional industries – in this case, the hospitality and mobility sectors.
The rise of the shared economy, which, coincidentally, arrived hand-in-hand with the 2008 financial crisis and the advent of the smartphone era. And both equally as big of a major contributor to its growth.
During the financial crisis of 2018, the concept of sharing a service slowly surfaced and, thanks in part of the dire financial state of the nation, gave it quite a boost. It was no longer big money and big spending. People were now more careful where the money was going toward, and nothing defined consumerism more than ownership. Uber and Airbnb became mainstream as it was utilizing a resource that would otherwise be left idle, like an unused car during the day, or an empty room in your three bedroom apartment. The sharing economy is a consolidation of scattered resources, being used to its fullest potential. To compartmentalize these resources, and distribute it to those who require it, not only prevents excess of production, but also, in terms of finances, help the average consumer to save quite a lot – since he or she is paying for per usage, and not ownership.
This is the exact spirit and societal quality that EXWYS is founded on. EXWYS is a C2C car-rental platform founded in New York, in 2018. It began with the idea of bridging small to medium sized car rental companies to a larger scale of exposure, particularly tourists. Last year, New York City had a record high number of 62.8 million visitors. While most do not rent cars, the ones who did chose familiar industry names like Enterprise and Hertz. This is where EXWYS comes in.
EXWYS provides a one-stop-view-all list of cars on the app. EXWYS allows car rental business owners to upload their fleet onto the app, hassle-free, and the process requires less than five minutes. EXWYS also minimizes its fees for car owners to a minimum, because they believe if you treat your car owners right and they will, in turn, provide more than just the bare minimum to renters.
The company is taking on the often-hefty marketing and advertising fees, and bringing the business to car owners – an ideal win-win situation for all.
And what if you’re looking to rent a car? Tired of reserving a car on Hertz and not knowing what particular model you’re getting until you arrive? On EXWYS, you can see a detailed description of each and every car, including its price. You can also choose your own insurance policy to purchase. Best of all?
EXWYS is currently providing a free valet service for its service partners and customers. Right now, drivers can have a car they reserve through EXWYS delivered, for free, to any location. This not only supports small car rental business owners to provide service beyond their usual reach, but save labor costs and receive the business they otherwise would not have. For renters, you no longer have to trek far and beyond to the outskirts of the city, or airports, just to pick up your dream car. All of your fees are listed clearly before you check out.
It is remarkable what EXWYS is willing to invest. It is acting on principle, and the personal belief in the ease of mobility, and the sharing economy model. It is looking to disrupt, and expect changes throughout the car rental industry, one car ride at a time.