Understanding young consumers' mindset shift toward ride-sharing services Online publication date: Tue, 06-Apr-2021
by Phuong V. Nguyen; Khang Le Duy Tran; Phuong U. Dinh
Middle East J. of Management (MEJM), Vol. 8, No. 2/3, 2021
Abstract: As part of the sharing economy, ride-sharing services have become a global trend. This new business model is an attractive option for entrepreneurs and has been studied extensively in recent years. Ride-sharing services also hold potential as a model for understanding consumers' mindset shift from owning to accessing. This paper investigates this growing trend by examining the impact of various factors on consumers' mindset shift toward ride-sharing services. A structural equation modelling approach is used to analyse a questionnaire survey conducted using snowball sampling of 451 respondents who have used Grab, the dominant ride-sharing service in Vietnam. The findings reveal that young consumers are willing to use Grab because it is useful and easy to use and has competitive prices. In addition, the use of Grab provides economic benefits and helps achieve the objectives of sustainable development. The findings of this study will enable companies in emerging markets like Vietnam to recognise current trends in the sharing economy in order to improve and change their business models. Finally, this study identifies several limitations and proposes directions for further research.
Online publication date: Tue, 06-Apr-2021
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