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Gig Economy And Sharing Economy Market 2020 | COVID -19 Impact Research Report With Top Key Players

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The Global Gig Economy And Sharing Economy Market report mainly studies the size, recent trends and development status of the Gig Economy And Sharing Economy market, as well as investment opportunities, government policy, market dynamics (drivers, restraints, opportunities), supply chain and competitive landscape. Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream applications. Moreover, Porter’s Five Forces Analysis (potential entrants, suppliers, substitutes, buyers, industry competitors) provides crucial information for knowing the Gig Economy And Sharing Economy market. The Gig Economy And Sharing Economy research report study the market size, Gig Economy And Sharing Economy industry share, key drivers for growth, major segments, and CAGR. Then it analyzed the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc.

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Key players in the global Gig Economy and Sharing Economy market are:
Couchsurfing
Lyft
Uber
Door Dash
Airbnb
Uber
Postmates
GoGoGrandparent
BlaBlaCar
Airbnb
Upwork
Task Rabbit
Fiverr
Lyft
SilverNest
Zipcar
Rover

On the basis of types, the Gig Economy and Sharing Economy market from 2015 to 2026 is primarily split into:
Gig Economy
Sharing Economy

On the basis of applications, the Gig Economy and Sharing Economy market from 2015 to 2026 covers:
Shared private car
Shared private residence
Independent contractor
Freelancers

The report further covers the significant performance of robust Gig Economy And Sharing Economy companies including their research activities, Product innovations, developments, technology adoptions, and brand promotions. The activities are performed in order to captivate the maximum numbers of potential buyers and offer better fit products in the market. Their strategic acquisitions, mergers, ventures, and partnerships are also examined in the report to help clients build their own strategies for their Gig Economy And Sharing Economy businesses.

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Gig Economy And Sharing Economy Market: Regional analysis includes:

  • Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
  • Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
  • North America (the United States, Mexico, and Canada.)
  • South America (Brazil etc.)
  • The Middle East and Africa (GCC Countries and Egypt.)

Major Points Covered in TOC:

  • Overview: Along with a broad overview of the global Gig Economy And Sharing Economy Market, this section gives an overview of the report to give an idea about the nature and contents of the research study.
  • Analysis on Strategies of Leading Players: Market players can use this analysis to gain competitive advantage over their competitors in the Gig Economy And Sharing Economy Market.
  • Study on Key Market Trends: This section of the report offers deeper analysis of latest and future trends of the market.
  • Market Forecasts: Buyers of the report will have access to accurate and validated estimates of the total market size in terms of value and volume. The report also provides consumption, production, sales, and other forecasts for the Gig Economy And Sharing Economy Market.
  • Regional Growth Analysis: All major regions and countries have been covered Gig Economy And Sharing Economy Market report. The regional analysis will help market players to tap into unexplored regional markets, prepare specific strategies for target regions, and compare the growth of all regional markets.
  • Segment Analysis: The report provides accurate and reliable forecasts of the market share of important segments of the Gig Economy And Sharing Economy Market. Market participants can use this analysis to make strategic investments in key growth pockets of the Gig Economy And Sharing Economy Market.

Key Questions Answered in the Report Include:

  • What will the market size and the growth rate be in 2025?
  • What are the key factors driving the global Gig Economy And Sharing Economy Market?
  • What are the key market trends impacting the growth of the global Gig Economy And Sharing Economy Market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global Gig Economy And Sharing Economy Market?
  • What are the market opportunities and threats faced by the vendors in the global Gig Economy And Sharing Economy Market?
  • Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
  • What are the key outcomes of the five forces analysis of the global Gig Economy And Sharing Economy Market?

A free report data (as a form of Excel Datasheet) will also be provided upon request along with a new purchase.

Contact Us:

Web:www.qurateresearch.com
E-mail:[email protected]
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Note: In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.



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Gig Worker Platform Payfare Launches Visa Card

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Payfare, a FinTech that provides payment and banking services for gig workers, has launched a collaboration with Visa to add Visa SavingsEdge to its platform.

The Toronto company announced the project on Wednesday (Sept. 22), saying that it would begin with the nationwide DoorDash DasherDirect card program.

Read more: DoorDash Partners With Payfare to Launch Banking Solution for Drivers

With Visa SavingsEdge, gig workers who are also Visa business cardholders can save on purchases with participating merchants, with discounts on things like fuel, auto parts, travel and dining from local, regional and national vendors.

“Our goal is for every worker in the global gig economy to become an empowered entrepreneur with financial security,” said Marco Margiotta, CEO and founding partner of Payfare. “With the addition of Visa SavingsEdge, we are arming gig workers with another financial tool to help them save and keep more of their hard-earned money, while supporting the overall financial health of the growing gig workforce.”

“Visa SavingsEdge will give gig workers the ability to take advantage of savings that are typically reserved for large businesses,” said Dahvie James, lead product manager for Visa SavingsEdge. “We know a sizable portion of the workforce already participates in the gig economy, and that the percentage is only growing. As we look toward enabling the financial health of these workers, we are thrilled to partner with Payfare to make Visa SavingsEdge available to them.”

Read more: Gig Workforce Payments Platform Payfare Opens Trading at $6

Payfare went public earlier this year with a $65.4 million initial public offering.

Payfare and DoorDash launched the DasherDirect program in December 2020. The card is issued by Stride Bank and is powered by Payfare. The platform offers drivers a mobile banking app and a business Prepaid Visa Card, as well as new rewards. DoorDash workers can also choose to have earnings automatically added to the card every day at zero cost. Users can also use the platform to check their balance, pay bills, transfer money and set savings goals.

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE SHOPPING JOURNEY – SEPTEMBER 2021

About: Eighty percent of consumers are interested in using nontraditional checkout options like self-service, yet only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba collaboration, analyzes over 2,500 responses to learn how merchants can address availability and perception issues to meet demand for self-service kiosks.

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Lyft built a brand on being the nice gig work app clad in pink. Its drivers paint a different picture.

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SAN FRANCISCO — Ray Givaudan has driven for Lyft, Uber and even briefly Instacart to supplement his retirement over the last few years.

At first, the 55-year-old was loyal to Lyft. But then Uber introduced a long pickup fee to pay more if he goes out of his way to pick up a passenger. In addition, he could see what a customer paid for a trip, helping him understand whether he was getting a fair share. Instacart provided more opportunities for work during the pandemic.

“The first couple of years with Lyft, you seemed to be a decent company and transparent,” the Roanoke-based driver recently wrote in a letter to Lyft co-founders Logan Green and John Zimmer. “The last couple of years, not so much.” He cited the disappearance of surge-priced pay, lagging driver rewards, and the removal of helpful features such as a live phone help line for drivers.

Lyft has spent years trying to win over drivers and passengers with fun branding, an emphasis on social justice and charitable causes, and in-app tipping. The perks gave it a reputational edge in a marketplace where rival Uber was criticized for its treatment of drivers and corporate scandals, and where food and grocery delivery was a budding and uncertain sector of the gig economy, often with lower pay.

But the pandemic and related labor shortage have dramatically shifted that landscape over the last couple years. At Lyft, which remained focused on ridesharing, ridership was down by as much as 75% last year.

Drivers aren’t bound to one company, and can easily switch between apps. In the interim, many drivers chose to work for rival food delivery services, which experienced a boom in deliveries and offered additional transparency into earnings, along with such advantages as negating the risk of interacting with passengers. Companies such as DoorDash and Shipt added driver incentives, such as cash bonuses last winter in an effort to meet surging demand.

And while Uber experienced similar ridership declines to Lyft at the height of the pandemic, it doubled down with its Eats food delivery business.

Now demand for rides is returning, fueling a driver shortage. And as other companies have offered steadier work and more transparency, some drivers say they are frustrated with Lyft.

Lyft has fallen behind the gig work market in several areas, more than a half-dozen drivers, analysts and researchers say. Lyft’s take-home pay also tends to be lower than that of its biggest rival, Uber, owing to a combination of stiff competition and algorithms less sensitive to surges in demand.

“I think Lyft is floundering,” Givaudan said.

Lyft spokeswoman Julie Wood said the company places a priority on the driver experience. She said quoted wait times for riders on Lyft were lower than on Uber in 24 of the 30 largest markets over a recent period, according to company data points and visualizations that were shared with the Washington Post. That meant there was little indication drivers were choosing Uber over Lyft. And drivers in some cities were earning more than $35 an hour, well beyond what they would typically collect, the company said recently.

But the lack of transparency can lead some drivers to feel they’re not receiving a fair share. One driver shared screenshots with the Post showing that a passenger paid more than $43 for a trip from Northwest Washington to Reagan National Airport, but he took home just more than $16. The driver, a music instructor who spoke on the condition of anonymity because he did not want his students to know he was driving for Lyft, had to ask the passenger to see how much the person paid for the ride.

Wood said many of the features mentioned in this article are available on the Lyft app, either through pilot programs or unlockable driver rewards. Lyft has a long pickup bonus in six markets, for example. And drivers can earn the ability to see passenger destinations through their driver rewards, she said. Lyft is also experimenting with upfront pay in two markets, allowing drivers to see the earnings and trip details on the screen before accepting a ride.

Uber spokesman Matthew Wing acknowledged that the company has had to make improvements in the face of outside pressure and calls for change.

“Being the market leader comes with more scrutiny, as it should,” Wing said.

Instacart spokeswoman Natalia Montalvo said the firm met a March 2020 goal to add 300,000 shoppers, and there are stable numbers of shoppers across North America.

DoorDash declined to comment. Amazon and Shipt did not immediately return requests for comment. (Amazon founder Jeff Bezos owns the Washington Post.)

Drivers say they’ve watched a shift at Lyft from its beginnings, when it was the first ridesharing app to implement a default tipping feature and has allowed customers to tip since its debut nearly a decade ago. Lyft also was first to let drivers pocket their earnings right away through a feature called “Express Pay,” with instant deposits for a transfer fee, it said.

In California, estimated to be the largest U.S. market for gig work with more than one million workers, a 2019 law that mandated companies treat gig workers as employees helped drive some changes in driver treatment. Some companies — particularly Uber — added a number of perks for drivers, including more control over fares and transparency into earnings even before a driver took on a ride. The initiatives tried to prove drivers were independent.

Lyft didn’t adopt new features, as it pursued a different legal strategy. Analysts said that company likely benefited from the fact that Uber drivers were turning down trips, and the changes Uber made to its app were costly from a research, development and operational standpoint.

Still, some of Uber’s changes were short-lived. It uncoupled driver earnings from passenger fares earlier this year as it no longer needed to prove drivers were independent operators in a supply-and-demand-based marketplace, sparking outrage among some drivers.

That led to cases where passengers found themselves paying astronomical fares while drivers collected meager bonuses. Meanwhile, some riders trying to take a Lyft were shown reasonable prices, but there weren’t drivers to accept the fares.

Ridesharing apps are highly dependent on their matching algorithms to pair customers with nearby drivers for a reasonable fare, at a rate that ensures gig workers are willing to make the trip.

Lyft’s algorithm is less sensitive, analysts said, meaning prices don’t spike as easily and driver bonuses can be lower and less frequent. Wood pointed to the wait time data as evidence that there is an ample supply of drivers, however.

But the differing algorithms can lead to headaches. For example, when customers pouring from an event are all demanding rides at once, they might find the price of an Uber has spiked while Lyft is comparably cheaper. In that case, Uber’s algorithm has detected a surge in demand and raises the price accordingly so customers can secure a ride with the limited supply of drivers.

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‘Gig workers’ approach Supreme Court, seek social security benefits from Zomato, Swiggy, Ola, Uber

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A petition has been filed by “gig workers” before the Supreme Court praying for social security benefits from employers including food delivery apps Zomato and Swiggy and taxi aggregator apps, Ola and Uber.

Gig workers are independent contractors or freelancers who undertake short-term work for multiple clients. The work may be project-based, hourly or part-time, and can either be an ongoing contract or a temporary position. The number of “gig economy” contract workers has grown in recent years; and during the COVID-19 pandemic, even more workers have joined the gig economy, as those who lost their full-time jobs began freelancing to make ends meet.)

The petitioners have reasoned that they are unorganised workers under the Unorganised Workers’ Social Welfare Security Act, 2008, and are therefore entitled to social security. It has been contended that the State’s failure to register them under the Act is violative of their fundamental rights, especially since the legislation has been enacted pursuant to Directive Principles of State Policy with a view to ensure basic human dignity of the workers.

“Denial of social security to the said “gig workers” and the “platform workers” has resulted in their exploitation through forced labour within the meaning of Article 23 of the Constitution. The right to livelihood includes the right to work on decent and fair conditions of work,” the plea said.

The respondent companies have been claiming that there exists no contract of employment between them and the petitioners, and that their relationship with the petitioners are in nature of partnership.

The petitioners have cited judgment of the UK Supreme Court which had held that Uber drivers are “workers” entitled to minimum wage, paid annual leave and other workers’ rights. – BENCH AND LAW

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Published on: Tuesday, September 21, 2021, 11:13 PM IST

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