Inflation Worries Leading 2 In 3 Canadians To Consider A Side Hustle

The Direct Sellers Association of Canada (DSA Canada) released consumer research, completed by Abacus Data, which reveals that inflation is fuelling the need for Canadians to continue their pursuit of supplemental income opportunities.

The survey found that while 2 in 5 Canadians (42%) pursued opportunities in the past year to make additional income (up 11% from the previous year), inflationary concerns are now driving almost 2 in 3 Canadians (64%) to consider pursuing ways to supplement their income in the coming year, up 7% from 2021.  Major demographic groups included in this figure were those ranging in age from 18-to-44-years-old, individuals who are employed on a part-time basis and students.

“Economic uncertainty continues to motivate Canadians to search for ways to supplement their income beyond traditional means,” said Peter Maddox, President of DSA Canada. “When comparing year-over-year data, the research reflects the fact that the lessening of COVID-related restrictions has introduced new economic challenges and created a need for people to enhance their income.”

“They are achieving this through participating in the gig economy, becoming an independent representative for a sales-based company or creating their own, small start-up business.”

“The economy is changing,” continued Maddox. “As a positive, many people, especially younger Canadians, are looking for flexibility and work-life balance as they earn, and this is being made possible by technology and market-innovation. People are finding ways to participate in entrepreneurial activity, such as direct selling, in a manner that suits them”.

Further outcomes from the research include data showing that 63% of Canadians find product recommendations from a trusted source to be important when making purchasing decisions; as well as continued positive impressions of the direct selling channel.

An executive summary of this research can be viewed here.