PayQuicker Director of Global Sales, Crystal Holtzendorff, delivered a brief segment during the live broadcast in which she explored top 2021 trends that are driving change in commission payouts.
In her presentation, Crystal discussed the changing demographics of the global gig economy, how this is driving the need for increased payout frequency and flexible spend options, and how PayQuicker is the best solution to meet and exceed these trends. Click here to watch her segment.
In Direct Selling, the most critical part of success is the sales force. The demographics of our sales force is evolving, with young, tech-savvy millennials taking over.
- 75% of global workforce will be made up of millennials by 2025
- Gen Z will make up 32% of global consumers over the next 20 years – that’s $60 billion in buying power!
- Over 90% of the Gen Z population is highly interested in entrepreneurship
This puts potential distributors in a position to be choosy about their options for earning income in this rising gig economy.
- In the next 3 years, 52% of the United States labor force will be involved in some type of gig work
- A survey done by the Bank of Canada found that 58% of young workers and 30% of all Canadians are participating in some form of “informal work”
As a result of these trends, direct selling organizations have an opportunity to make their payout plan their competitive advantage. This can be done in two ways:
Increase payout frequency
Potential distributors can choose to drive for Uber or Lyft and they will get paid the instant they drop someone off. To remain competitive with these rising gig work models, direct sales companies need to adopt a shorter time frame from point of sale to payout. This will feed instant gratification and yield greater distributor retention and increased sales performance.
Remain relevant with flexible spend options
By providing more spend options than just direct deposit and checks, direct selling organization can stay in trend and remain relevant. To remain successful in the marketplace, organization must incorporate mobile wallets in their payout program because, by 2023, over 50% of all global transactions will be through a digital mobile wallet.
PayQuicker Global Payout Solution
- Trusted DSA Partner
- Provides capability for clients to instantly pay distributors with NO fees
- Pay weekly, daily, or even hourly!
- Distributors can spend earnings instantly with NO fees, eliminating need to preload funds to a card
- Distributor owned bank accounts
- Plastic and virtual debit cards
- White label branding — from user interface, to the mobile app and debits cards
- Compatible with Apple Pay, Samsung Pay and Google Pay