We have already a huge phanomenon here in Germany. More and more people are renting stuff on a need basis rather than buying it. This means you don't need to own everything, you can rent it as soon as you need it.
People are constantly buying things, which they need only on very few occassions. In order to make most use of each items, you can share, lend or rent it out. It becomes even popular to rent out bikes in big cities, so tourists and visitors are able to bike within a city. People can earn a little bit of money and help others fulfilling their needs.
The environment profits from less production of things which are used only once.
Check it out it works already in Germany: www.erento.com/mieten or check www.erento.co.uk/hire for the English version.