Intelligent Fin.tech Issue 02 | Page 46

REGIONAL REVIEW

According to the Nielsen study , direct selling ranked as the most common activity mentioned by Egyptians who currently have or have had a side job . Of these respondents , 78 % said having a side job was a good source of extra income , 45 % claimed it provided them with new experiences and 40 % mentioned it increased their self-confidence .
Direct selling and entrepreneurship
Nielsen discovered that nearly 80 % of Egyptians are aware of the direct selling model in which independent representatives sell goods or services outside a traditional retail environment . Many international businesses have used this business model for more than a century to move their products to market efficiently . The majority of the Egyptian participants in the study perceive direct selling as a good way to own a business because of the low start-up costs involved . This is a significant finding for the industry , considering that many respondents cite financial risk as a barrier to entrepreneurship .
The study revealed that Egyptians tend to associate direct selling with online businesses – an important link to the gig economy , which has flourished , in part , due to advances in mobile technology . Just under three-quarters ( 71 %) of respondents believe that the direct selling model helped boost entrepreneurial activity in Egypt during the pandemic .
According to Nielsen , among those respondents who started a direct selling business with QNET , 72 % remain with the company today . That is the highest retention rate among all the direct selling companies examined by the study .
The majority of the Egyptian participants in the study perceive direct selling as a good way to own a business because of the low start-up costs involved .
Respondents who said they had considered exploring QNET ’ s direct selling opportunity were encouraged by the fact that it is a highly recommended , global company with a positive ‘ word-of-mouth ’ reputation , meaning respondents hear good things about the company from friends and family . Respondents also mentioned factors such as its friendly and knowledgeable representatives , quality products that customers want to buy and strong partnership deals .
“ This study demonstrates how direct selling companies like QNET are strong supporters of entrepreneurship and the growing gig-economy in Egypt and throughout the Middle East ,” said Mr Houssam El din Elmilliegi , Deputy Regional General Manager of QNET . “ With low start-up costs , a portfolio of quality products in high demand , and innovative online tools like our award-winning mobile app , QNET provides our distributors with the independence , flexibility and support they need to own and grow a successful business .”
The respondents interviewed for this study were selected from various socioeconomic backgrounds across Egypt . Over half ( 51 %) were males and 49 % were females . Their ages ranged from 20 to 55 . �
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