M ANAGERIAL I MPLICATIONS

Based on the different outcomes found through the analysis of results, I was able to identify different managerial implications for companies and organizations. These aspects can be helpful for Swapfiets and also for other existing or future access-based PSSs operating within the Danish market. However, as the current study focused on Millennial participants, it must be noted that other demographics might perceive the suggested marketing actions outlined below in a different way.

According to the findings of this research, Millennials seem to consider the convenience of the service as one of the essential aspects. All the participants mentioned that their experiences with the service were very positive; therefore, the company should promote those benefits through their own customers' real experiences. They can do that by pushing the word-of-mouth between Millennials, which might be increased due to their active participation in and contributions to social media. It would be interesting to find social media influencers who are students from the different universities in Copenhagen or who live in dorms with other international students so they can promote the brand. Additionally, keeping the price low and giving a discount to students sound fundamental to increase the perceived financial value for consumers. As many users are international students, it would also be interesting to offer exclusive sales at the beginning of each semester or make agreements with organizations like Erasmus Student Network (ESN) or the different international students' departments of each university to promote their service.

Another possible course of action would be for Swapfiets to partner with other companies to promote the environmental and social aspects of using their service. Most of the participants seem to be aware of the positive environmental impact of their choice to use the service once they start using Swapfiets, although that does not influence their choice to use Swapfiets vs. other offerings. However, it can be assumed that more knowledge of those benefits before making their choice would contribute to an increasing willingness of Millennials to use PSSs like Swapfiets. Emphasis should be placed on the value consumers derive from convenience of the service and its low price, as well as the positive impact for the environment, with bikes being re-used, and instead of consumers having to buy a new

bike the company will make sure that someone else can use it once each user no longer needs it (thus assuming the responsibility for reusing and recycling the product as well as being responsible for replacement and maintenance).

Most of the respondents have mentioned that they already have a bike that is too old or broken to use any more, with some going further and characterizing themselves as too lazy or unmotivated to spend the time and money required to get them fixed. It would be interesting if companies offered customers a discount in exchange for their old bikes. That would endorse the perceived symbolic value as the consumer would be participating in the Circular Economy and get an economic benefit for it at the same time. Furthermore, the company would get material that can be re-used to produce new bikes.

Regarding the feeling of community towards the Danish Cycling Culture, it would be interesting for Swapfiets to promote that the brand was born in the Netherlands where there is a strong cycling culture too. Therefore, they are not just a company that leases bikes;

instead, they are rooted in a cycling culture and have grown within it. That could have an impact on consumers feeling more integrated into the culture of cycling.

Focusing on the potential social stigma associated with losing money when leasing, renting or sharing, the company should put some emphasis on the fact that consumers are paying for a service that can be used for as long as the consumers want, rather than for a product that is not going to be possessed at the end. Therefore, consumers would see that paying for that service would be more expensive in a bike shop, for instance, even if, when leasing it, they have to pay a fee for as long as they use the bike. This fact can be applied to many other markets in the field of access-based consumption, since the traditional way of measuring the monetary cost of a product is just based on the amount of money that has been paid for it when it was acquired. In the case of access-based consumption, the products can come together with a service or, simply, there is not a product, and they are paying for an experience or accessing something. Therefore, managers of these companies must provide consumers with information about how PSSs and access-based consumption work and what are the benefits consumers are paying for.

Additionally, some participants mentioned that it would be nice to have more options in terms of design and colour. The aesthetics of the bikes seemed to be more important for female participants; however, they still did not consider it as the central aspect affecting their decision. At the same time, they seemed to be satisfied with how the bike looks. As a suggestion, it would be nice to offer more options in terms of colour or design, without deviating from the bicycle's characteristic appearance.

Finally, I consider that it would be interesting for companies to try to get other generations to use access-based consumption. It has been mentioned that one of the main differences between Millennials and older generations are related to the openness to new ways of consumption. Hence, trying to reach other generations and increasing their trust and empathy towards these companies would be positive for the forthcoming and existing organizations as well as benefit the environment.

The participants of this study feel great about cycling; they think it is healthy, good for the environment and cheap. Cycling as an activity seems to have a considerable impact on the participants' lifestyles, and they feel pleased about having the option of cycling any time, and anywhere they want. In terms of wider social policy, it would be incredibly positive for both governments and companies to create infrastructures that work well and boost the use of bicycles as urban mobility. That would have immediate positive consequences on people's lives, reducing traffic, pollution and greenhouse gas emissions as well as helping individuals derive the health benefits obtained through regular cycling.

Concerning other types of accessed products, the PSSs companies operating within the clothing market should place more emphasis on the customer experience. Some participants mentioned that they enjoy the traditional way of shopping or having their own clothes for a few years. Furthermore, they said that the difference between using Swapfiets and renting clothes was that a bike needs a maintenance service and they got that with Swapfiets; however, clothes barely need maintenance. Therefore, it would be interesting for clothes renting companies to develop a whole experience or an additional service that comes together with renting a piece of clothes. As it happens with Swapfites, that additional service can boost the Millennials’ willingness to use a PSS.