Why to buy something if you need it for a limited time only? It’s much easier (and more rational) to share underused assets instead of purchasing and owning them individually. The past few years have witnessed the rise of what’s called the sharing (share or shared, collaborative, peer, access) economy which implies collaborative consumption of physical, virtual and intellectual goods. The new model of consumer relationship emerges at the intersection of online social networking, mobile technology and the social movement that comes as a response to the reduction in purchasing power. While the concept of the sharing economy seems to be clear, it needs some detailing. Why is the sharing economy good to people? What threats to traditional business can it pose? Does the collaborative consumption have a potential to become a consumer religion of tomorrow?