The office-sharing sector in China just got a big boost with the continually rising popularity of shared study lounges. The rapidly growing business segment and its contributions to the country's overall shared-spaces economy have been seen as further proof of the sector's resilience amid ongoing headwinds.
The establishment of study lounges came about as a practical solution for students, academics, and those who want to do their research or study in a more conducive environment. Traditional locations such as coffee shops and restaurants often have too many distractions, diminishing people's abilities to concentrate.
The trend itself initially started in South Korea and Japan, both of which have hundreds of study lounges across their major cities. Last summer, the trend hit Chinese shores with dozens of lounges opening up in cities such as Shanghai and Beijing.
One of the companies that have seen relative success in the space is Zizai Study Room. The company currently has dozens of study lounges around Beijing, most of which have a space of around 150 square meters.
Apart from enjoying the space's productive study environment, users can also get access to several important resources such as Wi-Fi, coffee, refreshments, food, and other goods and services. Zizai was originally launched in July 2019 with just 10 study lounges in Beijing. Due to the demand, the company has managed to put up more than 70 study lounges in just a few months' time.
Commercial study lounges in China currently charge an average fee per entry of around 3 yuan per hour. Some companies do also offer packages that include daily, weekly, and monthly passes. Unlike libraries and study rooms on school campuses, study lounges have built their facilities to be very conducive to studying by eliminating all possible distractions.
Zizai Study founder, Zhang Yuting, mentioned that he has seen an increasing number of startups that are slowly carving out their place in the emerging market. With the increased competition, Zhang plans to focus on improving his company's services and customer experience to attract more users.
Shared study space is just one of the numerous types of new services that have emerged to meet new demands. The other types of services that are slowly adding to China's sharing economy sector include shares bicycles, shared rides, and even shared umbrellas.
Economists have stated that China's sharing economy could become a key driving force in boosting economic development. The sharing model greatly improves efficiency by activating often idles resources. With the guidance of regulators and the government, China's sharing sector is expected to eventually lead to healthier and more sustainable economic growth.
