AA Credit Union

Cents-Fall 2016

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But traditional businesses and consumers aren't the only ones aff ected by the on- demand economy. Service providers who work for these types of businesses average 40.4 hours per week, but rely on three diff erent sources of income to make up their paycheck, according to a study from Intuit, Inc. This gives people more fl exibility and control over their workweek, although it poses some challenges when it comes to things like retirement accounts and health insurance premiums, which fall solely to independent contractors to organize and fund. By 2020, Americans working these kinds of gigs will have more than doubled. Is that kind of job market unsustainable? And will we tire of all this convenience, wanting to do things on our own instead? Probably not. As the market matures, companies are only getting better at catering to people's Founded: 2011 Founded: 2008 needs. After Lerner had a couple of dud boxes from Stitch Fix, the company assigned a special stylist who sent an in-depth questionnaire about her preferences. Since then, the picks have been on target. The Seattleite has tried other similar services, too. Her own employer, Amazon, is well known in the convenience business. It's pretty hard to beat socks delivered to your door just moments after you've discovered you've forgotten them. As long as people need socks (and food, and transportation, etc.) and are short on time, companies that off er on-demand services will continue to make money by making life's little tasks easier. Service: Five women's clothing and accessory items are delivered per box; keep what you want and return the rest. Worth noting: Stitch Fix has more than 1,500 employees. Service: Same-day chore completion Worth noting: Taskers have spent 10,000 hours standing in line and climbed 4 million stairs moving furniture. "I forgot socks one day," she remembers. "I was on the bus on my way to work, and I ordered socks through Prime Now. They got there right as I arrived." AACreditUnion.org | | 15

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