A return to how our life was at the start of the year 2020 is surely some way off. Even when lockdown restrictions are eased, the situation doesn’t seem to take the stress off the shoulder. The novel coronavirus pandemic has caused an unparalleled humanitarian crisis which has triggered an economic downturn. As travel comes to a virtual halt, schools close, markets shut down, to avoid and halt the spread of the novel coronavirus, we are facing the wrath of a hostile lockdown and no sooner are we close to the pre-pandemic normalcy.
In April 2020, the unemployment rate rose by more than 26%, causing millions of people out of work due to the Covid-19 pandemic. But as it is said, “Every cloud has a silver lining which brings a ray of hope in everyone’s life”.
In this hour of need, the world of digitalisation has given a sigh of relief for everyone out there. In a survey of over 1,000 people, nearly 500 reported having a side gig. People are spending more of their time stuck in their houses which makes it the perfect time to turn to an online side hustle.
Why get an online side hustle now?
The terror over the spread of COVID-19, caused by the novel coronavirus, has already sent stocks plunging into bear market territory.
For those who are not familiar with this term, the “bear market” refers to a certain period when the stock values drop down to 20% or even more from a recent high and stay that way for at least some times.
Though bear markets and recessions don’t always go hand in hand, the former often spurs the latter. And when recessions hit hard, you know what happens next. So, hit the right spot taking full advantage of the present scenario. It’s a really good time to dive into online business ideas. An emergency fund can be a crucial need during a potential period of unemployment. Also, having a side gig will give you some degree of income security in case of a recession. Although, there are some businesses growing amid COVID 19, leaving all the negativities aside. eCommerce is one of the most dominant business assets that has been showing giant leaps amid the lockdowns. Online business is a genuine solution which is growing amid COVID 19 market crisis. It is not the end of the world by any means.
Market Trends in Covid 19 Crisis:
As they say, “Necessity is the mother of invention”. With the economic downturn, the consumer behaviour is likely to change drastically showing a shift towards the e-commerce market. The global online shopping market size is predicted to hit 4 trillion in 2020. And in the US alone, we’re expecting to have 300 million online shoppers in 2023. That’s 91% of the entire country’s population!
These statistics might help you get a better understanding of the power of digitalisation that this era holds:
- Searched for “Buy Online” Reached 27K in March 2020.
- It’s estimated that there will be 2.05 billion global digital buyers in 2020.
- In 2020, e-commerce sales are expected to account for 15.5 per cent of retail sales worldwide.
- More than 70% of people believe there will be an increase in usage of online apps due to this pandemic.
For more updates on the latest online trends, listen to our podcast “Coffee and Commerce” where we keep the balance with the trend to triumph the online selling through some ferocious tactics.
Amazon Flex:
One of the most trendy and credible online side hustle you can opt for is Amazon Flex! This tech giant spent 21.7 billion in shipping costs in 2017 alone, according to their annual report. The good news is, you can earn a piece of the pie out of it.
What is Amazon Flex, and how does it work?
Amazon Flex is a rideshare program that allows you to earn money by delivering to Amazon customers in your city. Currently available in more than 50 cities across the nation, this opportunity has continued to grow to new locations.
To sign up for this Amazon side gig, Simply head over to Amazon Flex or download the Flex app through the Google Play or App Store. Pick up “blocks,” or shifts, during which you need to deliver packages. You’ll get your payment by the hour accordingly.
With Amazon Flex, you can positively plan your week. Reserve blocks in advance or picks them each day based on your availability. You can also choose the blocks that fit your schedule. Once that you’re scheduled for a block, the Flex app will tell you where to go & what to do. You’ll just have to pick up the packages at a specific location. Load them up and just hit the road, dropping off packages at locations until you’ve delivered them all.
With flexible hours, good pay, and low levels of customer interaction, driving for Amazon Flex is undoubtedly an attractive option for those that are looking to make some more money with their side hustle. So, it is the time to BYOB, what’s that? Well, BE YOUR OWN BOSS!
Decluttering:
One man’s trash is another man’s treasure. Clearing out your clutter while making a little extra coin has financial and environmental benefits. Buried deep down among that pile of unwanted festive gifts, overflowing storage boxes and never-used ‘essentials’ is a great opportunity to make money. Especially when you are locked into your house 24*7, it’s the perfect time to seize this moment. Embark on a major decluttering exercise, exploring ways to make some profit from the pile of junk you’ve created.
Decluttering can be a tough task. Start collecting your unused, unnecessary items. For that, you need to start with the more valuable items to get your momentum going. This can help you start your goal. Take, for instance, one of the reason being you are decluttering is to start your own business. If you aren’t sure what’s the right place to put off your clutters, here are some of the platforms which can be used to sell your pieces of stuff.
Ebay:
Ebay is one of the classic ways to make money by decluttering. For selling on Ebay you simply need to follow some simple guidelines. To register yourself on the app, take photos of each item you want to sell and create engaging listings to help them sell well. Also, before you list something, you can see if it is worth your time by using the Advanced Search feature. This helps to find out if similar items have sold well recently. This is a really great way to figure out what to charge too. To find these details, enter the item description and check the “Sold” box and you will be good to go.
Amazon:
Selling on Amazon can be a good choice for your decluttering sales, letting you sell almost as many different items as you want. You may have spotted sales items from private sellers on the site – displayed under the New and Used offers. However, there are some restrictions and policies there, which might end you getting banned on Amazon! But, not to worry, we have a guide for you to comply perfectly with all the norms and restrictions.
You’re only allowed to sell products which are as good as new. With that in mind, if you have a lot of unwanted books, games or even gadgets ranging from phones to computers, this could be the place to offload them. It’s more worthwhile if they are higher value items through Amazon charges a fee for any sales.
Facebook Marketplace:
This Covid-19 pandemic has adversely affected many businesses at these times. As the physical shop owners are facing a tough time and are rapidly shifting to online selling, Facebook introduced Facebook Shops. Serving as a means of helping small businesses sell their products directly across Facebook apps. You can easily sell items on Facebook. The biggest advantage it holds over Amazon and eBay is that you don’t have to pay a listing fee. You can sell just about everything which means all the profits go to your pocket. As a preferred marketing partner of Facebook, CedCommerce feels happy to be a part of Facebook’s partner ecosystem and is all set to uncover the opportunities. We have been closely working with Facebook to help eligible sellers leverage Facebook Marketplace. Assisting them to quickly onboard on the marketplace. Thus, helping them to integrate their eCommerce platforms like Shopify, WooCommerce, etc. directly with the marketplace.
Follow our podcast “Coffee and Commerce“ and listen to the episode “Six online side hustles you can start online in 2020“ to dive deep in details and unravel the latest trends and updates on E-commerce.
Copywriting:
The worldwide quarantine has led to significant job loss throughout the world. And, it may be the right time to consider a side gig for some extra bucks. Copywriting is one of the best and an ideal side hustle. You can easily pick up clients and work with them from anywhere, on your own schedule. Undoubtedly, it’s flexible, creative and fun. There is a lot of auxiliary content creation work that you may have not considered like email-writing, transcribing, newsletter writing, video scripting, ghostwriting, proofreading, and editing. In what some say technical writing helps you can expand your knowledge of the language and copywriting. As they say, Content is the king! As across the world journalists, academics, attorneys, entrepreneurs, marketers, and business coaches are in need of people who can transcribe their interviews, seminars, and oral research for them. The best thing about setting up a side hustle as a copywriter is that it compliments your talent and creativity. Also, it affords you the opportunity to work at home and in your spare time.
Whether your goal is to pay off the debt, save up for any fun purchase, or add some bucks to your bank account, it might be the perfect side hustle for you.
Tutoring:
It seems the Coronavirus Pandemic has finally pushed public education into the 21st century. With all of the panic, schools have shut down, and teachers are quickly attempting to adapt to an online learning environment. The hours are flexible, the demand is high, and you’re in control of your rates. Tutoring is a flexible and rewarding endeavour and, it’s a good way of turning your knowledge into money! There are many people all over the world look for educational content. So, if you’re good at any of the subjects, whether it’s teaching language, maths, science, history or any hobbies that are ideal to you like guitar, singing, dancing etc. that can even be taken into consideration for this.
Therefore, you’ll be helping others, helping yourself, and helping your wallet. Sounds like a pretty good gig so far, what’s the catch? Well, there isn’t one, you’ve just got to be passionate about teaching and helping others. For start online tutoring, there are several online websites like Tutor.com, Magic Ears, Chegg Tutor, TutorMe etc which is not only perfect for tutors to earn some extra dough but also for college students who are passionate about the education they can get in on the action as well without even leaving their dorm.
Amazon Home Services:
How does Amazon Home Services work?
Amazon Home Services is a new way to buy and schedule the professional services such as furniture assembly, house cleaning, and plumbing etc directly at Amazon.com. The best-rated service providers are handpicked in the concerned area and all service pros are insured, background checked and licensed as well if applicable. The service pros compete for the business based on quality, quality, and availability. The services are backed by their Happiness Guarantee, so if the customers aren’t satisfied they’ll make sure the job gets done right. A predefined, pre-packaged service with an upfront price right to the cart is added and appointment time frame is scheduled. There are Countless items on Amazon which also has the option to include an installation or assembly service as part of the purchase. Amazon Home Services is adding more locations and service pros every day. And also, the latest addition in this is Smart Home services, with subcategories like Expert Home Assessment, Smart Camera installation, Smart Switch installation and many more things like these
So you can now provide your services to the end customers with the help of amazon just like that.
Influencer Marketing:
With COVID-19 keeping much of the country on lockdown, this is shaping up to be a year of Instagram-consumer overload, opening an opportunity for content creators and entrepreneurs to start engaging with their base a little more.
- The influencer marketing industry will reach between $5 and $10 billion by 2022
- 84% of marketers believe that influencer marketing is successful
- 63% of marketers use clicks and conversions to measure the success of influencer marketing campaigns
- 57% of marketers say influencer content outperforms their own brand content
- 35% of marketers say influencer marketing has the best return on investment
Being an influencer, you can use your credibility and experience to sway others’ opinion, build trust, develop your brand, and so on. So pick a niche that you’re genuinely passionate about. Maybe you’re great at DIY crafts? Or maybe you love food, and have a great deal of interest in different types of cuisines? Maybe you’re into fashion and are always aware of the latest styles and trends? Now once you have found your own niche, then you have to grow your followers to a level where you can come under the category of Nano-Influencers which is very much trending these days.
Having less than 5,000 followers, nano-influencers have a more niche following around a particular topic. As these influencers are focused on something specific, followers trust them more than bigger influencers when seeking recommendations. Here’s how we use this tactic to gain the advantage of social media influencing. We partnered with Sam Dey, a Youtuber who’s keen to share his expertise on tips and tricks to help you to attract more attention to your products and services mainly through online marketing. This, in turn, helps the influencers who are open to collaboration with big and small companies in order to monetize their social media expertise.
With entertaining and engaging content across categories such as fashion, food, health and hygiene, and personal care, e-commerce and lifestyle brands are tapping digital platforms such as YouTube, TikTok and Instagram to raise awareness around Covid-19, post challenges, games, tutorial and self-care videos and posts to connect with consumers. Sponsored social media posts are one of the most popular ways for influencers to make money on social media. It’s when brands or marketers pay you to promote a certain brand or product in a social media post.
So, running a side-hustle can give you an incredible sense of freedom. Excited about starting a business, but not sure where to start? Get in touch with us and unravel great ways to soar high sales potential.
Conclusion:
If an online side hustle sounds like a pretty good way for you to earn some extra money and stay busy while this quarantine, go for it! Depending on what side hustle you choose, the commitment might vary. Prepare yourself to devote your time to your new gig, especially in the beginning!
Because a side hustle is a commitment, you want to make sure that it aligns with your interests. Stay positive, have a solution-seeking mindset, and leverage some of these ways to make money during the Covid-19 pandemic, and it will all work out!