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Impact of COVID-19 on the gig economy: The Standard

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Flourish, a mission-oriented global venture capital firm with portfolio investments throughout Africa, has unveiled a survey in its global research series —The Digital Hustle: Gig Worker Financial Lives Under Pressure.
The report tracks the experiences of gig workers, those who use digital platforms such as e-hailing or delivery apps, to learn more about how they are faring during the COVID-19 pandemic.
Kenya’s gig economy has been growing steadily over the years with entrance of local and international players offering ride hailing and online delivery services. However, the Covid 19 pandemic affected operations in the sector making most players to effect a raft of measures in order to remain afloat in business.

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Key findings from the report indicate that approximately 4 out of 5 workers in South Arica now earn less than USD240 (Sh25,867) per month, compared to 16 per cent before the COVID-19 lockdown.
91 per cent of workers are concerned about COVID-19, specifically, how gig workers believe it will affect their ability to earn an income (46 per cent) and the risk to their family’s health (26 per cent).
Some gig workers are impacted more than others. E-hailing drivers were twice as likely as delivery workers to report a significant decline in quality of life, with 83 per cent suffering a large decrease in income.
Coping strategies among gig workers vary. Some have a financial cushion, but a majority live on the edge. If they lost their main source of income, 58 per cent of respondents reported they could not cover household expenses for a month without borrowing. Most have made sacrifices to cope with the pandemic and accompanying economic dislocation. Over half of gig workers have already reduced their household expenses, almost half borrowed money, and nearly 3 out of 4 had to rely on savings. Yet, only 1 in 5 are seeking additional income, a low figure possibly driven by the strictly enforced COVID-19 lockdown.

Ameya Upadhyay, Venture Partner at Flourish Ventures.

Following the report, The Standard had an interview with Ameya Upadhyay, Venture Partner at Flourish Ventures to give more insight into the survey:

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Your report The Digital Hustle: Gig Worker Financial Lives Under Pressure showcases the disruption brought about by Covid 19, how do you think the gig sector can reinvent itself to live up to its potential so that it manages to wade through the crisis brought about by the pandemic?
The pandemic has affected virtually every sector of the economy across the world. It’s incumbent upon players in the sector to come up with measures that will effectively steer the industry to help the financially vulnerable while continuing to grow and be profitable.
In Kenya we have seen a number of players enact policies that have guided their operations since the onset of Covid 19.
Glovo introduced contactless and signatureless deliveries in order to limit physical interactions with customers. Bolt also introduced a plastic film barrier in its cars in order to assure customers of their safety. At the same time, several boda-hailing companies are increasing focus on food and e-commerce deliveries in the face of restrictions on movement. The launch of Uber Direct and Uber Connect in Kenya highlights this trend.
We believe that every strategy being used now should be geared towards affirming consumers of their safety and building trust as companies look towards creating long-term solutions.

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What’s the future of the gig economy in Kenya in the wake of this Covid 19 pandemic?
Kenya’s gig economy will continue to prove beneficial for the country’s economy even with the effects of Covid 19.
As the world learns to live with the virus, more consumers will shift to e-commerce and we are likely to witness a rapid growth in delivery and logistics to support this trend. We believe this trend will benefit everyone involved: small retailers and restaurants will find a means to stay afloat through online sales, gig workers will be able to augment their income through deliveries and consumers will be able to access goods in a safe manner. 
We are already seeing this trend play out in Kenya, as mentioned above and elsewhere in Africa. Further, as gig platforms introduce rigorous safety measures, we expect the core transport business to pick up pace gradually.
We also see a significant opportunity for gig platforms to address the financial health of gig-workers by embedding services like credit and insurance. This will not only increase worker-loyalty, but also provide an additional revenue streams for the platforms.

Going forward what new challenges is the gig economy likely to contend with especially the ride hailing sector so as to stay afloat in business?
Consumers are going to be very skeptical about almost everything. Operators especially in the ride hailing sector should consider constantly communicating their safety protocols so as to enhance consumer trust and affirm that they are using a safe platform.
We are also likely to see authorities across the African continent impose additional regulations geared towards ensuring customer safety such as those imposed in Kampala recently. Ride hailing platforms will need to proactively engage with regulators and demonstrate how they can continue to provide their essential services while putting customer safety first.  
The report reveals effects brought about by the Covid 19 pandemic in South Africa, could this be a reflection of other markets in the African continent especially in Kenya?
First, we need to emphasize that Kenya and South Africa are very different markets in many respects.
As the same time, we expect the disruption caused by COVID in the gig economy to be similar across many countries in Africa, and for that matter across emerging markets.
This is because people face similar risks to their safety and have responded in comparable ways. It is interesting to note that we discovered similar disruption caused by COVID when we conducted a study similar to the one in South Africa in Brazil.
What strategies do you think can work best to cushion the sector from further damage even as the effects of the pandemic continue to persist?
As a first priority, players in the sector should re-assure customers of their safety by implementing safety protocols and communicating these to customers constantly.
Second, they should implement strategies to support the workers on their platforms who are experiencing a significant income shock.
One way to do this is to re-focus on the growing delivery and logistics segments. The platforms should can also address financial health of workers by providing services such as credit and insurance.
Third, they should proactively engage with regulators and other policymakers to ensure their actions align with broader policy imperatives. Fourth, they should re-double efforts to
Do you think the gig economy will employ a majority of Africa’s workforce in the future? How will this play out?
While growing fast, the gig economy is still in its nascence in Africa. We believe gig platforms have the potential to bring millions of informal African workers online, helping formalize their livelihoods, improving their earning opportunities, and connecting them to digital financial products like payments and credit.
This belief is underpinned by the fact that gig platforms bring several efficiencies to informal and fragmented marketplaces benefitting all stakeholders; workers can earn more reliably and customers can access quality services at the click of a button.
What did you aim to achieve with this report?
We are a global fintech investor committed to helping people achieve financial wellbeing. In pursuit of that goal, we want to better understand the financial impact of the pandemic on gig workers and how their livelihoods are changing, as well as how fintechs can better serve the population.

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Gig Economy Market 2020 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2026 – My Kids Health

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Information & Technology -Credible Markets

The recent report on “Global Gig Economy Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026” offered by Credible Markets, comprises of a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Gig Economy Market”.

Impact of Covid-19 in Gig Economy Market: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Gig Economy market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

Download FREE Sample Copy of Gig Economy Report @ https://www.crediblemarkets.com/sample-request/gig-economy-market-968602

Key players in the global Gig Economy market covered in Chapter 4:

Prosper
Lime
Etsy
BlaBlaCar
VaShare
Envato Studio
Fon
BHU Technology
Didi Global
Snap
Freelancer.com
Zipcar
Uber
Toptal
Stashbee
Eatwith
Lyft
Couchsurfing
PeoplePerHour
Spotahome
Care.como
E-stronger
Silvernest
Upwork
Fiverr
Steam
Hubble
Home Away
Omni
Airbnb
JustPark
Airtasker

In Chapter 11 and 13.3, on the basis of types, the Gig Economy market from 2015 to 2026 is primarily split into:

Asset-Sharing Services
Transportation-Based Services
Professional Services
Household & Miscellaneous Services (HGHM)
Others

In Chapter 12 and 13.4, on the basis of applications, the Gig Economy market from 2015 to 2026 covers:

Traffic
Electronic
Accommodation
Food and Beverage
Tourism
Education
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2026) of the following regions are covered in Chapter 5, 6, 7, 8, 9, 10, 13:

United States, Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden, Poland, Belgium, China, Japan, South Korea, Australia, India, Taiwan, Indonesia, Thailand, Philippines, Malaysia, Brazil, Mexico, Argentina, Columbia, Chile, Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of the World

Enquiry before Buying this Report @ https://www.crediblemarkets.com/enquire-request/gig-economy-market-968602 

Some Points from Table of Content

Global Gig Economy Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 

Chapter 1 Report Overview

Chapter 2 Global Market Growth Trends

Chapter 3 Value Chain of Gig Economy Market

Chapter 4 Players Profiles

Chapter 5 Global Gig Economy Market Analysis by Regions

Chapter 6 North America Gig Economy Market Analysis by Countries

Chapter 7 Europe Gig Economy Market Analysis by Countries

Chapter 8 Asia-Pacific Gig Economy Market Analysis by Countries

Chapter 9 Middle East and Africa Gig Economy Market Analysis by Countries

Chapter 10 South America Gig Economy Market Analysis by Countries

Chapter 11 Global Gig Economy Market Segment by Types

Chapter 12 Global Gig Economy Market Segment by Applications

Chapter 13 Gig Economy Market Forecast by Regions (2020-2026)

Chapter 14 Appendix

The research provides answers to the following key questions:

    What is the expected growth rate of the Gig Economy market? What will be the market size for the forecast period, 2020 – 2026?

    What are the major driving forces responsible for transforming the trajectory of the industry?

    Who are major vendors dominating the Gig Economy industry across different regions? What are their winning strategies to stay ahead in the competition?

    What are the market trends business owners can rely upon in the coming years?

    What are the threats and challenges expected to restrict the progress of the industry across different countries?

    What are the key opportunities that business owners can bank on for the forecast period, 2020 – 2026?

Grab Maximum Discount on Gig Economy Market Research Report @ https://www.crediblemarkets.com/discount-request/gig-economy-market-968602 

About Credible Markets

Credible Markets has emerged as a dependable source for the market research needs of businesses within a quick time span. We have collaborated with leading publishers of market intelligence and the coverage of our reports reserve spans all the key industry verticals and thousands of micro markets. The massive repository allows our clients to pick from recently published reports from a range of publishers that also provide extensive regional and country-wise analysis. Moreover, pre-booked research reports are among our top offerings.

Contact Us

Credible Markets Analytics

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US Contact No: +1(929)-450-2887

Email: [email protected]

Ask for customization @ https://www.crediblemarkets.com/custom-research

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Weekend Extra: Artist Qubek tells Metro how he’s livening up closed gig venues

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AS CORONAVIRUS closed music venues and independent creative businesses across the country, street artists painted their towns red, green, blue and pink, bringing colour to the shutters and raising a much-needed smile. A world away from the old image of outlaws daubing graffiti on buildings in the dead of night, this is commissioned art, bringing creativity to empty spaces with the full blessing of the site owners.

In Manchester, muralist Qubek was invited to remind passers-by of the good times they’ve enjoyed at live music hotspots by painting the closed shutters of the O2 Victoria Warehouse and O2 Ritz Manchester. As part of O2’s national This Is Just An Interval campaign, the venues’ exteriors have a new look while fans await the return of live music.

‘It was quite an emotional thing for me, really, remembering the great times I’ve had in those venues, particularly the Ritz, which was where I had my first big nights out,’ Qubek recalls. ‘I used to go there every Wednesday with my mates, so I’ve loved the opportunity from O2 to express myself on the venue.

Buzzing: Qubek and his symbolic ‘lonely microphone’ piece, below

‘At first, I wasn’t really sure how to sum that up, but as I got started I realised that, for me, it’s all about the people who make these venues what they are: the musicians and the people who work across the gig economy, and how hard it is for them at the moment.

‘The lonely microphone on the floor of an empty venue is symbolic of how people are feeling right now, not knowing when things are going to get better, but adding the text “this is just an interval” gives the piece a message of hope. That’s my idea behind it, anyway.’

As the artist behind Manchester’s famous bee murals, he is used to capturing the city’s creative, industrious spirit. His depiction of 22 bees which adorns the Northern Quarter’s Koffee Pot commemorate the lives lost in 2017’s Manchester Arena attack, and act as a moving reminder of the city’s spirit and creativity.

‘I’ve painted bees for years, little Manchester worker bees, I’ve always loved them as signifying the hardworking people of the city,’ explains Qubek. ‘But it was after the arena attack and the tragedy there that they became particularly poignant for a lot of people, and I was asked to do more of them.

‘It was an opportunity to try to help at a time where we all felt pretty hopeless — and I think if you have an opportunity to put something back, you should always try to take it. The ones I’ve painted so far have been auctioned for about £90,000 for charity.’ Qubek, who lives in Old Trafford with his partner and young family, is also keen to put as much as he can back into the wider community.

‘Other than commissions, I do a lot of work running workshops for young people and helping them channel their creativity with public art,’ he explains.

‘There’s an idea that we are all running around at night spray-painting train carriages, and while there are people who do, and I did start out being a bit naughty where I sprayed, the vast majority of us are working on positive artwork, designed to inspire the community.

‘I see so many talented kids coming through, and it’s really hard for them these days to find an outlet for that creativity. There is a great community on Instagram, too. Every day, I look at the murals and street art being done around the world and it takes your breath away. We’re part of an amazing global movement.

‘That was the thing for me about the dropped mic and us all waiting for live music to return. The creative community is huge, and whether that’s as artists, musicians, writers or any of the other industries in the gig economy, we are all part of a wider community supporting each other.’

Instagram @qubekmanchester



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COVID-19 Impact on Gig Economy Market 2020- future development, manufacturers, trends, share, size and forecast details shared in the report – Owned

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Let’s begin with, why research is important for Gig Economy Market? It is always important because it gives direction to deal with a specific problem. Report Ocean has recently published a market research report on the Gig Economy Market which will provide you a leading direction of Gig Economy Market. This research report keenly focusses on development status and recent trends of the Gig Economy Market, along with competitive landscape, supply chain, market dynamics (opportunities, restraints, and drivers), government policies and opportunities.

The Gig Economy Market report provides a detailed analysis of the global market size, regional and country-level market size, segment growth, market share, competitive landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunity analysis, strategic market growth analysis, product launches, and technological innovations.

COVID 19 Impact on Gig Economy Market

This research study also includes the analyses related to the impact of Covid-19 on the Gig Economy Market. The global impacts of the coronavirus disease 2019 (COVID-19) may significantly affect the growth of the Gig Economy Market in near future. As per the experts’ viewpoints, it affects the global economy in 3 major ways:

• By directly affecting demand and production chain

• By creating market disturbance and supply chain

• By impacting the firms financially and influencing the financial markets

Request Free Sample Report at https://www.reportocean.com/industry-verticals/sample-request?report_id=mai28960

Competitive Landscape:

Key players in the global Gig Economy market covered in Chapter 4:
Prosper
Lime
Etsy
BlaBlaCar
VaShare
Envato Studio
Fon
BHU Technology
Didi Global
Snap
Freelancer.com
Zipcar
Uber

In this chapter will provide you a complete description of competitors and their relative position in Gig Economy Market. We will provide you the information about major players, their products, prices, market share, current strategies and main strengths and weaknesses. In this competitive world, it is indispensable to understand who the rivals are and how they usually perform with the purpose of improving its own market position. Direct and indirect competitors should be identified and analyzed. This valuable information will support decision makers when defining and evaluating company strategies.

Market Segmentation:

For a business to grow, you always need to look at the specific group of consumers. It also helps you to avoid the cost of advertising and distributing to a mass market. In this section, we mainly focused on subdivision of the Gig Economy Market into compatible subsections of customers where any subsection may be selected as a market target to be reached with a unique marketing mix

Geographically, the report includes the detailed research on market share, growth rate, consumption, production, revenue and forecast of the following regions:

• United States

• Central and South America (Brazil, Mexico, Colombia)

• Europe (Germany, UK, France, Italy, Spain, Russia, Poland)

• China

• Japan

• India

• Southeast Asia (Malaysia, Singapore, Philippines, Indonesia, Thailand, Vietnam)

• Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)

Some of the Major Highlights of TOC covers:

Report Overview

• Study Scope

• Key Market Segments

• Regulatory Scenario by Region/Country

• Market Investment Scenario Strategic

Global Market Growth Trends

• Industry Trends

• SWOT Analysis

• Porter’s Five Forces Analysis

• Potential Market and Growth Potential Analysis

• Industry News and Policies by Regions

• Industry News

• Industry Policies

• Industry Trends Under COVID-19

Value Chain of Gig Economy Market

• Value Chain Status

• Gig Economy Market Manufacturing Cost Structure Analysis

• Production Process Analysis

• Manufacturing Cost Structure of Gig Economy Market

• Labor Cost of Gig Economy Market

• Labor Cost of Gig Economy Market Under COVID-19

• Sales and Marketing Model Analysis

• Downstream Major Customer Analysis (by Region)

• Value Chain Status Under COVID-19

Gig Economy Market Production, Revenue (Value), Price Trend by Type

• Production and Market Share by Type

• Revenue and Market Share by Type

• Price by Type

Gig Economy Market Production, Consumption, Export, Import by Region

Production, Consumption, Export, Import by Region

• Production, Consumption, Export, Import by Country

• Production, Revenue, Price and Gross Margin

Industrial Chain, Sourcing Strategy and Downstream Buyers

• Gig Economy Market Industrial Chain Analysis

• Raw Materials Sources of Gig Economy Market major Players in 2019

• Downstream Buyers

Gig Economy Market Forecast

• Gig Economy Market Sales, Revenue and Growth Rate

• Gig Economy Market Production, Consumption, Export and Import Forecast by Region

• Gig Economy Market Production, Revenue and Price Forecast by Type

• Gig Economy Market Consumption Forecast by Application

• Gig Economy Market Forecast Under COVID-19

Years considered for this report:

• Historical Years: 2015-2019

• Base Year: 2019

• Estimated Year: 2020

• Forecast Period: 2020-2026

For more information and discount on this report, ask your query at: https://www.reportocean.com/industry-verticals/sample-request?report_id=mai28960

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe, and Asia.

Contact Us: +1 888 212 3539 (US) +91-9997112116 (Outside US)
Contact Person: Matthew S
Email: [email protected]

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