Coined the Side Hustle, our 20–somethings are working on projects outside of their 9 – 5 job as a way of earning more money, engaging in a passion and maybe launching the next Porter & Sail.
We are also seeing this quite commercial behaviour in how they are dealing with the brands in their lives. Having coined the phrase The Entrepreneurial Consumer, we have identified the five characteristics that sum them up:
- They are always chasing time and they love brands and businesses that help them grab this time back
- They love the new and shiny and are desperate for regular inspiration
- Adopt new technology quickly, makes their lives easier
- They have built up a good community and not only ask for advice but rely on them for life’s essentials
- Finally, they never pay over the odds, negotiating a better deal is part of their conversation with businesses.
So, how can your brand tap into a Side Hustle?
Think about your brands’ spare capacity….. what is it doing outside of the rhetorical 9-5 and what is being under-utilised. Is it a technological capability that can be used in another part of your consumers lives, is it a community that can offer help in other areas or maybe it’s a physical store that can house something out of hours?
Creating something on the side that helps deliver a better brand experience is not only smart business but will help you attract the emerging consumer.