Friday, August 12, 2022

61% of young people encouraged to start side hustles


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As the cost-of-living crisis rages on, many young people of Gen-Z age (those born between 1997 and 2012) have taken up side hustles to supplement their income. This, mixed with millions developing new hobbies during lockdowns as the result of the pandemic, has spurred more creativity than ever.

With new trends emerging weekly and the internet at our fingertips, making money on the side has never been easier. But what are the most profitable side hustles in 2022?

From baking delicious goodies to selling slime and more, here are some of the best side hustles.

 

The best products to sell in 2022

 Believe it or not, slime and foam make the most profit when sold online. Loved by children and adults alike, this sensory product is not only great for having fun with, but it is also good for relieving anxiety, calming tetchy hands and well, it is super satisfying to play with.

With just over 8,000 accounts selling slime related products on online marketplace Etsy – a low number of sellers compared to other products – and the average cost of the products being £8.50, slime is the winner. Plus, there is high demand, with 325,000 searches for this item on Amazon.

In second place, personalised drink and barware. The personalised pint glass for Dad for Christmas, the mug with your name on it, for example. The competition is fierce, though. There are over 2.2 million sellers on Etsy who sell this type of product. The Amazon searches for this type of item is much less than slime, too, at just 79,000 searches.

Food gift hampers take the third spot and candles and holders come in at number four. Jewellery comes in at fifth position, with over 12 million Etsy sellers and 398,000 Amazon searches.

You can see the top ten products to sell in the table below.

The most profitable side hustles

 Besides selling products, there are many ways to make decent money to supplement your income. If you are tech savvy, you are in luck! Website design is the most lucrative by far, with an average selling price of £179. This is closely followed by project management, which has an average selling price of £33.

You can see the most lucrative side hustles for 2022 in the graphic below. It is very tech heavy, with SEO, mobile apps creation, website building and WordPress website design all within the top 10.

The most in demand side hustles

 Some side hustles can earn you more cash than others, there is no doubt about that. But what is the consumer demand for these goods and services?





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