The gig economy is a dynamic and growing sector, significantly influenced by Gen Z and Millennials who prioritize flexibility, independence and supplementary income. This presentation delves into the demographics, preferences and financial behaviors of gig workers, emphasizing their crucial contribution to the U.S. economy. It reveals that a growing share of the workforce comprises gig workers, with a notable concentration in the South and West regions. The majority of gig workers do not use digital platforms and there is a diverse range of income levels and gender representations within this group. Full-time gig workers predominantly use debit cards, while side-hustle workers prefer PayPal. The presentation also highlights the optimistic financial outlook of gig workers, with many planning to splurge on travel and dining in the coming months. These insights underscore the transformative impact of technology and AI on the gig economy, driving innovation and filling labor gaps.
Key takeaways:
1. The gig economy is poised to grow, driven by Gen Z and Millennials.
2. Gig workers value work flexibility, independence and additional income sources.
3. Technology and AI are transforming the gig economy.
With over three decades of experience, Michael has a proven track record of transforming insights into strategic actions. He has collaborated with global financial institutions, consumer product, manufacturing and data-driven companies.
