As many households continue to feel the pinch of an elevated cost of living, in tandem with economic uncertainty, the gig economy keeps establishing itself as a safeguard for some, and lifeline for others; nearly half of consumers say they will have to consider gig work in the next six months to continue supporting themselves or their family – rising to 61% among financially struggling households.
The short-term mindset gig workers have to the nature of these jobs is reflected in their expectations of financial and health benefits – with the majority willing to forgo health insurance and retirement plans in exchange for the fast cash and flexibility gig work provides.
Platforms and FIs have a wellspring of opportunity when it comes to thinking about how to better support gig workers, particularly across areas like financial literacy, payments, and portable benefits – differentiating themselves while helping create a more sustainable gig economy for the workers that power it.
This report looks at the following areas:
- Profile of gig workers
- Gig services used by consumers
- Most important factors in choosing platform to work for
- Motivators to working in the gig economy
- Gig work behaviors and attitudes
As economic pressures drive more consumers toward gig work, the sector continues to evolve from a temporary stopgap to an essential source of income. This opens the doors for platforms and FIs to step in with more robust benefits and tailored financial solutions.
Amr Hamdi, Senior Analyst – Financial Services
Market Definitions
For the purposes of this Report, Mintel has deemed those individuals with the following types of employment as being a part of the gig economy:
- Freelancer
- Online seller (eg Etsy, Depop)
- Delivery driver (eg DoorDash, Instacart)
- Rideshare driver (eg Uber, Lyft)
- Social media content creator (eg YouTube, Instagram)
- Rental property host (eg Airbnb, VRBO)
- Service-based fulfillment (eg TaskRabbit)
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EXECUTIVE SUMMARY
- What you need to know
- Bridging the financial ownership gap among gig workers
- Graph 1: financial product ownership, by gig work status, 2025
- Gig work has become deeply embedded into the current-day labor market
- Graph 2: types of gig work sought after, 2025
- Leverage existing drivers to mentor new workers
- FIs have a golden opportunity to claim gig workers’ wallets
- Graph 3: financial behaviors of gig workers, by gig work status, 2025
- Market predictions
- Opportunities
- Platforms that support workers beyond the gig will provide a competitive edge during acquisition and retention
- Graph 4: reasons for stopping gig work, 2025
- Tailored incentives remain a compelling gateway to greater platform adoption
- Graph 5: likelihood to use gig services if offered incentives, by self-reported credit score and generation, 2025
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MARKET DYNAMICS
- Market context
- Market drivers
- Incoming economic pressures will reshape how consumers interact with gig platforms in the near term
- Graph 6: consumer sentiment index, 2022-25
- Gig work can help safeguard against labor market challenges
- Graph 7: necessity of taking on gig work, by financial situation, 2025
- Many delivery drivers are seeking more-stable employment paths
- Graph 8: types of gig work sought, by gig work status, 2025
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CONSUMER INSIGHTS
- Consumer fast facts
- Profile of gig workers
- The gig economy powers a wide range of good and services – from DoorDash deliveries to handcrafted items on Etsy
- Graph 9: source of earned income in the past 12 months, 2025
- Gig work is a young person’s game
- Graph 10: source of earned income in the past 12 months, by generation, 2025
- Multicultural adults are the backbone of the gig economy
- Graph 11: source of earned income in the past 12 months, by race and ethnicity, 2025
- A strong share of gig workers sitting in lower-income brackets opens the door for more financial literacy initiatives from platforms
- Graph 12: source of earned income in the past 12 months, by household income, 2025
- Smaller delivery platforms must find their niche and elevate their value to stay competitive with the “Big Two”
- Graph 13: platforms used to earn money in the past 12 months, 2025
- Most important factors in choosing platform to work for
- Highlighting a culture of support can help platforms better differentiate themselves when acquiring workers
- Graph 14: most important factors when choosing a platform, by gig work status, 2025
- Stability will resonate with gig-working parents
- Graph 15: most important factors when choosing a platform, by parental status, 2025
- Income-driven messaging will capture the attention of younger gig prospects
- Graph 16: most important factors when choosing a platform, by generation, 2025
- Motivators to working in the gig economy
- Delivery work is driven by a strong degree of financial necessity
- Graph 17: behaviors and attitudes toward gig work, by gig work status, 2025
- Position gig work as a reliable income source that can support students undergoing financial pressures
- Graph 18: behaviors and attitudes toward gig work, by student status, 2025
- Gig work is filling historical employment gaps among multicultural adults
- Graph 19: behaviors and attitudes toward gig work, by race and ethnicity, 2025
- Gig work behaviors and attitudes
- Delivery drivers value speedy payouts, even for a small fee
- With gig work a stopgap for most, platforms must position themselves as more than just a side-hustle
- Graph 20: attitudes toward long-term gig work, by gig work status, generation, and parental status, 2025
- Gig workers are more open to trading off benefits for autonomy
- Graph 21: openness to taking a job with no benefits, by gig work status, 2025
- Younger adults look to gig work as a means of surviving an unforgiving labor market
- Graph 22: openness to gig work, by generation, 2025
- Gig services used by consumers
- Consumers’ gig service usage reflects day-to-day utility
- Graph 23: services used as a customer in the past 12 months, 2025
- Millennials are the gig economy’s power users, though Gen Zers present a prime loyalty play
- Graph 24: services used as a customer in the past 12 months, by generation, 2025
- Urban consumers drive platform usage, but suburban and rural areas remain addressable markets
- Graph 25: services used as a customer in the past 12 months, by generation, 2025
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INNOVATION AND MARKETING STRATEGIES
- Marketing and advertising
- Lyft and DoorDash utilize the power of incentives to encourage cross-platform usage via its ongoing partnership
- Uber hits on the value of time and money to appeal to prospective drivers
- Instacart leverages the voices of current shoppers to convey trust and relatability
- DoorDash positions its Crimson debit card as a tool that can unlock a wellspring of value for drivers
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APPENDIX
- Market definition
- Consumer research questions
- Consumer research methodology
- Generations
- Abbreviations and terms
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