It’s no secret that the composition of the American economy is changing. As the manufacturing sector continues to decline, the balance is slowly tipping even further away from goods and towards services. In line with this larger trend, many firms have been leaning toward newer business models that give customers choices other than outright ownership of a product, such as pay per use (Uber, etc.) or subscriptions (Spotify, Netflix, etc.). Researchers have dubbed this phenomenon “servicization.” It’s no secret that the composition of the American economy is changing. As the manufacturing sector continues to decline, the balance is slowly tipping even further away from goods and towards services. In line with this larger trend, many firms have been leaning toward newer business models that give customers choices other than outright ownership of a product, such as pay per use (Uber, etc.) or subscriptions (Spotify, Netflix, etc.). Researchers have dubbed this phenomenon “servicization.” Economics & Business Phys.org – latest science and technology news stories
Research explores whether ‘everything as a service’ will live up to its great expectations
