Greece and hyperconsumption


Greece is in the situation that it is. Two years back credit cards flooded the market, people were buying consumer goods massively. Clothes, cars, real estate… and much more. Now don’t even think about banks giving loans to people in order to buy a car. Did they not know that their practice would lead to a massive bubble and the eventual collapse of the purchasing power of consumers? Sure they did.

Now, people start to change. The economic crisis has fundamentally shifted consumer behavior. Pressing unresolved environmental concerns have put people to think more about their purchases. People feel resentful towards big companies, large banks and other financial institutions. Moreover, with the uprise of social, mobile and web technologies, you can have what you want when you want it. Why? Because technology is an enabler.

Think of a system / platform where people can upload and make available their existing idle stuff from tools, books, electronics, hobby stuff to an apartment that they possess but do not need, to people around them. People could not even imagine this 10 years ago. Now we have the technology that can make our lives easier.

This mentality has already started to influence people in countries around the world (e.g US,France,UK) where people do not rely solely on credit cards to buy cars and hobby equipment or other consumer goods. Also, people need something for a specific occasion and for a specific period of time. Right? Students need a particular book for a semester. You need a tool for a 10 minute job around the house, etc… Therefore people can share stuff with friends and strangers around them to get the job done faster and without laying out the cash. Trying a product, before buying saves money so it is more efficient for their pockets. Lastly, people who give out their possessions earn some cash and at the same time help the environment by reducing unneeded production.

Is Greece ready to switch from an era of hyperconsumption where credit and individual ownership dominate to an economy of community, reputation and shared access?? I am eager to see how people in Greece will respond to the wave that is coming.

Rentareto will try to redefine how people consume physical goods and help them to reconsider alternative ways to use their already existing resources – Be that goods, spaces or even skills they have.

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