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HONG KONG, Aug. 22, 2022 /PRNewswire/ — An innovative study conducted through global e-commerce-based direct promotion company QNET, in partnership with Nielsen IQ, shows that most Egyptians have entrepreneurial attitudes in the post-pandemic economy and that the direct promotion style provides benefits for starting a business and earning more income.
The willingness of Egyptians to have interaction in entrepreneurship is a positive sign for the country, as other studies have warned that entrepreneurship may simply be a vital driving force of economic expansion in the Middle East and North Africa (MENA) region, where women and youth, though well-educated, they struggle with the highest unemployment rates.
Nielsen’s study, which surveyed 1,121 respondents across Egypt, found that maximum entrepreneurship is associated with concepts such as freedom, being one’s boss and earning the best income.
A developing preference for independence and flexibility fuels this positive perception, as many know them as the main motivators of an entrepreneur. At the same time, they also pointed to the monetary threat as a significant obstacle.
More than a portion of respondents cited online business as an example of entrepreneurial activity, and 45% of the COVID-19 pandemic offers greater opportunities for online merchants in Egypt.
This reflects the joy of many other people around global blockades. When physical retail outlets were forced to close, e-commerce-based businesses experienced a global boom as more and more people logged in to buy the goods and facilities they needed. necessary.
Advances in cellular generation and the expansion of online businesses are creating more profit opportunities in Egypt and other countries in the MENA region. The Organisation for Economic Co-operation and Development has found that online business processes, such as social commerce and cellular payment systems, barriers to entrepreneurship in the MENA region, especially for women.
The availability of more income-generating opportunities can replace the way Egyptians understand their jobs. Nielsen’s study found widespread approval among Egyptians for having a “side job,” such as when a user engages in part-time activities or starts a small business. in addition to your main job, to earn additional income.
Once again, the attitude of Egyptians is in line with the global trend, especially with the expansion of the sharing economy, in which other people use online platforms to sell products and earn an additional source of income in their spare time.
Globally, concert-based activities have increased the pandemic as economic uncertainty has led other people to seek other sources of income. In the process, many have found that the generation allows them to work from anywhere on their own schedule, satisfying their preference for greater autonomy and flexibility in their paintings.
According to Nielsen’s study, direct promotion is the most talked about activity by Egyptians who lately have or have had a parallel job.
Of those surveyed, 78% said having a side task was a smart source of additional income, 45% said it introduced them to new experiences, and 40% said it increased their self-confidence.
Direct and entrepreneurship
Nielsen found that nearly 80 percent of Egyptians are familiar with the direct promotion style in which independent representatives sell products or facilities outdoors in a traditional retail setting. Many foreign companies have followed this style of business for more than a century to market their products well.
Most of the Egyptian participants in the study understand that direct advertising is a smart way to own a business because of the low upfront costs involved. This is a location for the industry, as many respondents cite the financial threat as a barrier to entrepreneurship.
The study found that Egyptians tend to associate direct advertising with online businesses, a vital link to the gig economy, which has flourished, in part, thanks to advances in mobile technology. encourage business activity in Egypt during the COVID-19 pandemic.
According to Nielsen, of the respondents who have direct advertising businesses with QNET, 72% remain with the company today. This is the highest retention rate among all direct mail companies evaluated through the study.
Respondents who said they were thinking about exploring QNET’s direct advertising opportunity were encouraged by the fact that it is a very global company with a positive reputation for “word of mouth,” meaning respondents hear smart things about the company from friends and family. Respondents also discussed points such as their friendly and expert representatives, quality products that consumers need to buy, and strong partnership agreements.
The findings of the study were presented to the media at an event in Cairo on August 2, at which QNET’s Deputy Regional Director General, Mr. Houssam El din Elmilliegi, said: “This study demonstrates how direct promotion companies like QNET are strong helpers of entrepreneurship. With low upfront costs, a high-demand quality product portfolio, and cutting-edge online equipment like our award-winning mobile app, QNET gives our suppliers the independence, flexibility and help they want to own and grow a successful business. “
Respondents for this study came from diverse socio-economic backgrounds in Egypt. 51% were men and 49% were women. Their ages ranged from 20 to 55 years old. Nielsen IQ is a globally identified leader in customer research.
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SOURCE QNET