To help our management team get our arms around exactly who and how person-to-person agreements were taking place, we embarked on the process of conducting narrow market research. I will say the results were fascinating and well worth the extensive exercise.
With a solid sample size we knew the results would give us a good handle on how people interact in the person-to-person space on a monthly basis. What we found was that 77% either purchase or provide services on a monthly basis. Thus, three out of four American adults are part of this independent “gig” economy. That’s an estimated 192,000,000 adults; a pretty big number.
As expected, buyers outnumbered providers with two out of three people purchasing services regularly. Slightly less than 40% of individuals provided services in one form or another.
As to what these transactions entail, the expected categories appeared consistently. 43% of those polled were involved in individual landscaping / lawn care agreements. One in three used an individual for handy work or cleaning services. Not surprisingly, in today’s small animal crazy society we live in, 30% interacted with someone for pet services. Fitness, photography, media and other similar services were also towards the top of the list.
Overall, it was extremely interesting to get a quantifiable view on who the Quiktract market exactly is, how big it is, and how we as an organization can help them.
In the next blog post we will cover the other side of the same national survey. That dealt with the good, the bad and the ugly, and truly speaks to the need for Quiktract. As a teaser, people don’t get things in writing, job specs change a lot, and many people are left unhappy at the end of the transaction.