According to a report, Data Day Britain, from data service provider Hitwise, a division of marketing company Connexity, the sharing economy in the UK has grown exponentially with website visits increasing more than three times in 2016, compared to last year.

The report reveals that during 2016, more than 1.35 million Brits visited a leading space sharing site, with those under 35 years old being 60% more likely to visit these sites. Casual room sharing networks like Couchsurfing were most popular amongst the younger audience, while those over 35 made up the majority of the visits to sites like Airbnb and Love Home Swap.

Crowd funding services like Kickstarter or Indiegogo,  which receives 65% of visits from Millennials, culturally reflect the values of that age group (18- 34), who are more willing to chip in to fund the projects they believe in, despite earning less on the whole.

“As one of the fastest growing sectors of the internet, now is the most exciting time for the sharing economy,” Nigel Wilson, managing director at Hitwise, said.  “As we see the industry bleed into more and more sectors, brands and retailers need to be aware of the UK’s growing hunger for collaboration, whether that’s through sharing our sofa of financially supporting an entrepreneur. The Hitwise research also highlights brands should avoid presuming they know their audience and ensure they are targeting the right people, with the right content.”