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The collaborative economy is considered to have great potential in promoting the circular economy. However, there is little empirical research in this field. Taking the Beijing free-floating bike sharing (FFBS) program as an example, this study develops a system dynamics (SD) model based on the product lifetime extension business model (PLEBM) framework, and the business practices of FFBS. Combined with the dynamic evolution process of the FFBS market, the impact of FFBS on bicycle lifetime and the utilization efficiency of the urban bicycle system is explored. The results show that FFBS can reduce the required supply scale of the entire bicycle system by about 21%, and increase the average daily usage of bicycles by about 27%. In addition, FFBS also can increase the average lifecycle trip volume per bike in the entire urban bicycle system from approximately 900 to 1060, an increase of 16%. In particular, this study estimates that the optimal supply scale of the FFBS market in Beijing is about 800,000. It is worth noting that although enhancing the PLE strategy can increase the contribution of FFBS to PLE, it may also deteriorate the profitability of the FFBS platform. The authorities and FFBS operators should work together to continuously improve the profitability of the platform and strengthen its innovation capabilities to promote the healthy and sustainable development of FFBS.

How Does the Collaborative Economy Advance Better Product Lifetimes? A Case Study of Free-Floating Bike Sharing