Young People Share, But Do So Differently: An Empirical Comparison of Peer-to-Peer Accommodation Consumption Between Millennials and Generation Z

Abstract

Built on the consumer socialization theory and generational cohort theory, this research examines the consumption phenomena of the sharing economy among young travelers. Specifically, the current study investigates Millennial and Generation Z travelers’ consumption intention for peer-to-peer accommodations—one of the most popular sharing economy business models. This study explores how consumption values impact young travelers’ choice of peer-to-peer accommodation and whether any similarities or differences exist across the two generational cohorts. The research findings suggest that, while utilitarian and hedonic values influence both young generations’ intention to use peer-to-peer accommodation, sustainability and social interaction values, as well as perceived social media exposure, play more important roles for Generation Z (vs. Millennials). Furthermore, young people’s needs for self-enhancement extends significant impacts on their value evaluations of the peer-to-peer accommodations, particularly for Millennials. These generational differences help industry practitioners better serve and market to the two market segments.