RENTOby: Designing a Unified Hyperlocal Rental and Local Services Marketplace in India – A Case Study of Digital Platform Innovation and the Sharing Economy

RENTOby: Designing a Unified Hyperlocal Rental and Local Services Marketplace in India – A Case Study of Digital Platform Innovation and the Sharing EconomyAuthor: Vishal Sharm (BBA Scholar, Institute Of Technology and Management, Gida,Gorakhpur)Email: [email protected] rapid expansion of digital technology has transformed the way consumers access products and services. However, the ownership-based consumption model continues to create inefficiencies, particularly when individuals purchase products that are required only occasionally while other individuals possess underutilised assets. Similarly, identifying reliable local service providers remains a challenge in many urban, semi-urban and rural communities. This paper examines RENTOby, a proposed unified hyperlocal rental and local services marketplace designed to address these challenges through a single digital platform.The study conceptualises RENTOby as a multi-sided digital marketplace connecting customers, individual asset owners, vendors and local service providers. The proposed platform facilitates the rental of products such as cameras, furniture, tools, tractors and event equipment, alongside services such as plumbing, cleaning and repair. The research examines its potential business model, value creation mechanisms, operational structure, trust-building requirements and scalability challenges. A conceptual case-study and design-oriented analytical approach is adopted, drawing on established literature concerning the sharing economy, digital platforms and service innovation.The paper proposes that integrating product rentals and local services within a geographically focused digital ecosystem could improve asset utilisation, provide additional income opportunities and reduce search costs for consumers. It also identifies trust, product verification, service quality, logistics and platform governance as critical determinants of successful implementation. The study contributes a conceptual framework for understanding the development of integrated hyperlocal marketplaces in emerging economies such as India.Keywords: RENTOby, Sharing Economy, Hyperlocal Marketplace, Digital Entrepreneurship, Product Rental, Multi-sided Platform, Local Services, Digital Business Model, India.