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.
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.
Following the report, The Standard had an interview with Ameya Upadhyay, Venture Partner at Flourish Ventures to give more insight into the survey:
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.
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.
Gig Economy Platforms Market Size, Key Players Analysis, Competitive Scenario, Opportunities, Development Status 2021-2026|ayer DTaskRabbit, BellHops, Guru.com, HopSkipDrive, Freelancer, etc
Latest research on Global Gig Economy Platforms Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Gig Economy Platforms market. this report included a special section on the Impact of COVID19. Also, Gig Economy Platforms Market (By major Key Players, By Types, By Applications, and Leading Regions) Segments outlook, Business assessment, Competition scenario and Trends .The report also gives 360-degree overview of the competitive landscape of the industries.
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Some of the key manufacturers operating in this market include: ayer DTaskRabbit, BellHops, Guru.com, HopSkipDrive, Freelancer, Rover, Upwork, Fiverr, DoorDash, Favor Delivery, Turo, Twago Enterprise, Handy,, , and More…
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Gig Economy Platforms market competitive landscape offers data information and details by companies. Its provides a complete analysis and precise statistics on revenue by the major players participants for the period 2021-2026. The report also illustrates minute details in the Gig Economy Platforms market governing micro and macroeconomic factors that seem to have a dominant and long-term impact, directing the course of popular trends in the global Gig Economy Platforms market.
Market Segment by Type covers(APP-based, Website-based, )
Market Segment by Application covers (Freelancer, Independent Contractor, Project Worker, Part-Time, )
Regions Covered in the Global Gig Economy Platforms Market:
1. South America Gig Economy Platforms Market Covers Colombia, Brazil, and Argentina.
2. North America Gig Economy Platforms Market Covers Canada, United States, and Mexico.
3. Europe Gig Economy Platforms Market Covers UK, France, Italy, Germany, and Russia.
4. The Middle East and Africa Gig Economy Platforms Market Covers UAE, Saudi Arabia, Egypt, Nigeria, and South Africa.
5. Asia Pacific Gig Economy Platforms Market Covers Korea, Japan, China, Southeast Asia, and India.
Years Considered to Estimate the Market Size:
History Year: 2015-2020
Base Year: 2020
Estimated Year: 2021
Forecast Year: 2021-2026
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Some Major TOC Points:
- Chapter 1: Gig Economy Platforms Market Overview, Product Overview, Market Segmentation, Market Overview of Regions, Market Dynamics, Limitations, Opportunities and Industry News and Policies.
- Chapter 2: Gig Economy Platforms Industry Chain Analysis, Upstream Raw Material Suppliers, Major Players, Production Process Analysis, Cost Analysis, Market Channels, and Major Downstream Buyers.
- Chapter 3: Value Analysis, Production, Growth Rate and Price Analysis by Type of Gig Economy Platforms.
- Chapter 4: Downstream Characteristics, Consumption and Market Share by Application of Gig Economy Platforms.
- Chapter 5: Production Volume, Price, Gross Margin, and Revenue ($) of Gig Economy Platforms by Regions.
- Chapter 6: Gig Economy Platforms Production, Consumption, Export, and Import by Regions.
- Chapter 7: Gig Economy Platforms Market Status and SWOT Analysis by Regions.
- Chapter 8: Competitive Landscape, Product Introduction, Company Profiles, Market Distribution Status by Players of Gig Economy Platforms.
- Chapter 9: Gig Economy Platforms Market Analysis and Forecast by Type and Application.
- Chapter 10: Gig Economy Platforms Market Analysis and Forecast by Regions.
- Chapter 11: Gig Economy Platforms Industry Characteristics, Key Factors, New Entrants SWOT Analysis, Investment Feasibility Analysis.
- Chapter 12: Gig Economy Platforms Market Conclusion of the Whole Report.
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Key highlights of the Gig Economy Platforms Market report:
• Growth rate
• Renumeration prediction
• Consumption graph
• Market concentration ratio
• Secondary industry competitors
• Competitive structure
• Major restraints
• Market drivers
• Regional bifurcation
• Competitive hierarchy
• Current market tendencies
• Market concentration analysis
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Global Gig Economy Market by Market Share, Vendors, Growth Rate, Analysis, Product Type, Revenue| Airbnb, CouchSurfing, FlipKey, Onefinestay
(Post-pandemic Era)- Global Gig Economy Market 2021: Inclusive Insight
Los Angeles, United States, January 2021: The report titled Global Gig Economy Market is one of the most comprehensive and important additions to Alexareports archive of market research studies. It offers detailed research and analysis of key aspects of the global Gig Economy market. The market analysts authoring this report have provided in-depth information on leading growth drivers, restraints, challenges, trends, and opportunities to offer a complete analysis of the global Gig Economy market. Market participants can use the analysis on market dynamics to plan effective growth strategies and prepare for future challenges beforehand. Each trend of the global Gig Economy market is carefully analyzed and researched about by the market analysts.
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List of Top Manufacturers/Key-players of Global Gig Economy market growth report (2021- 2026): – Airbnb, CouchSurfing, FlipKey, Onefinestay, Vrbo/HomeAway, Xiaozhu, Care.com, Heal.com, Pager, Amazon Flex, Cargomatic, Farmdrop, The Food Assembly, Deliveroo, DoorDash, VIPKid, Airtasker
Gig Economy Market Segment by Type covers: Delivery, Food, Education, Retail, Others
Gig Economy Market Segment by Application covers: enterprise, personal
About “Gig Economy Market” Growth:
In this report, the global Gig Economy market is valued at USD XX million in 2020 and is projected to reach USD XX million by the end of 2024, growing at a CAGR of XX% during the period 2020 to 2024.
Reason to purchase this Gig Economy Market Report: –
1) To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape.
2) Assess the production processes, major issues, and solutions to mitigate the development risk.
3) To understand the most affecting driving and restraining forces in the market and its impact in the global market.
4) Learn about the market strategies that are being adopted by leading respective organizations.
5) To understand the future outlook and prospects for the market.
Production, consumption, revenue, market share and growth rate are the key targets for Gig Economy Market forecast from 2013 to 2025 (forecast) in these regions:
- Southeast Asia
- South America
Key questions answered in the report:
What will the market growth rate of Gig Economy market?
What are the key factors driving the global Gig Economy market size?
Who are the key manufacturers in Gig Economy market space?
What are the market opportunities, market risk and market overview of the Gig Economy market?
What are sales, revenue, and price analysis of top manufacturers of Gig Economy market?
Who are the distributors, traders, and dealers of Gig Economy market?
What are the Gig Economy market opportunities and threats faced by the vendors in the global Gig Economy industries?
What are sales, revenue, and price analysis by types and applications of Gig Economy market?
What are sales, revenue, and price analysis by regions of Gig Economy industries?
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Table of Contents
Global Gig Economy Market Outlook-by Major Company, Regions, Type, Application and Segment Forecast, 2015-2026
1 Market Scope Gig Economy
1.1 Gig Economy Market Snapsshot
1.1.1 Major Companies Overview
1.1.2 Market Concentration
1.1.3 Market Share & Six-Year Compound Annual Growth Rate of Major Market (CAGR)
2 Global Gig Economy Industry Analysis
2.1 Sector Breakdown Assessment, 2015-2026
2.2 Market Assessment by Type
2.3 Market Size Analysis and Forecast, by Application
3 China Gig Economy Market Estimates & Forecasts
3.1 China Gig Economy Market by Sector, 2015-2026
3.2 China Gig Economy Market by Application, 2015-2026
4 EU Gig Economy Market Estimates & Forecasts
4.1 EU Gig Economy Market by Sector, 2015-2026
4.2 EU Gig Economy Market by Application, 2015-2026
5 USA Gig Economy Market Estimates & Forecasts
5.1 USA Gig Economy Market by Sector, 2015-2026
5.2 USA Gig Economy Market by Application, 2015-2026
6 Japan Gig Economy Market Estimates & Forecasts
6.1 Japan Gig Economy Market by Sector, 2015-2026
6.2 Japan Gig Economy Market by Application, 2015-2026
7 India Gig Economy Market Estimates & Forecasts
7.1 India Gig Economy Market by Sector, 2015-2026
7.2 India Gig Economy Market by Application, 2015-2026
8 Southeast Asia Gig Economy Market Estimates & Forecasts
8.1 Southeast Asia Gig Economy Market by Sector, 2015-2026
8.2 Southeast Asia Gig Economy Market by Application, 2015-2026
9 South America Gig Economy Market Estimates & Forecasts
9.1 South America Gig Economy Market by Sector, 2015-2026
9.2 South America Gig Economy Market by Application, 2015-2026
10 Value Chain (Impact of COVID-19)
10.1 Gig Economy Value Chain Analysis
10.2 COVID-19 Impact on this Industry
10.2.1 Industrial Policy Issued Under the Epidemic Situation
11 Competitive Analysis
11.1.1 Key Information
11.1.2 Service/Solution Introduction
11.1.4 Business Dynamics
11.2.1 Key Information
11.2.2 Service/Solution Introduction
11.2.4 Business Dynamics
11.3.1 Key Information
11.3.2 Service/Solution Introduction
11.3.4 Business Dynamics
11.4.1 Key Information
11.4.2 Service/Solution Introduction
11.4.4 Business Dynamics
11.5.1 Key Information
11.5.2 Service/Solution Introduction
11.5.4 Business Dynamics
11.6.1 Key Information
11.6.2 Service/Solution Introduction
11.6.4 Business Dynamics
11.7.1 Key Information
11.7.2 Service/Solution Introduction
11.7.4 Business Dynamics
11.8.1 Key Information
11.8.2 Service/Solution Introduction
11.8.4 Business Dynamics
11.9.1 Key Information
11.9.2 Service/Solution Introduction
11.9.4 Business Dynamics
11.10 Amazon Flex
11.10.1 Key Information
11.10.2 Service/Solution Introduction
11.10.4 Business Dynamics
11.13 The Food Assembly
12 Research Conclusion
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