LSN : News : Stat: US consumers turn to side hustles for financial stability

Dua Lipa writes, directs and stars in new Porsche ad

Dua Lipa for Porsche, Germany

Global – In a playful twist on traditional car commercials, Porsche handed creative control to pop star Dua Lipa for its latest ad featuring the electric Porsche Macan.

The two-minute film, co-directed by Lipa and French director Clément Durou, was shot in Mexico City and showcases Lipa’s vivid imagination. The ad begins with the singer contemplating how she would direct a Porsche commercial, leading to a series of unexpected and extravagant scenes: speeding through a city, battling bad weather, outrunning horses and even taking a trip to the Moon.

Poking fun at the traditional tropes of car ads and subverting industry norms, the ad has the potential to attract a wider audience through Dua Lipa’s global appeal. The collaboration marks Lipa’s continuing partnership with Porsche, which began in November 2023.

In our Mobility topic on LS:N Global, we’re tracking the ideas, innovations and experts that will help shape the direction of this sector. Our Not Your Parents’ Car report shows how brands are using innovative design and technology to forge new connections with young people.

Strategic opportunity

Embrace unconventional, imaginative narratives in advertising to differentiate from traditional car commercials, building a reputation for creativity and appealing to younger consumers who value out-of-the-box thinking

AI-native book publisher Rebind transforms reading experience

US – Rebind, an innovative publishing platform, is bringing a modern twist to classic literature by integrating AI-powered context and conversations. The service allows readers to engage with classic texts through the insights of renowned authors and thinkers.

Rebind’s platform features extensive interviews with literary luminaries such as John Banville, Roxane Gay and Bill McKibben. These interviews form the basis for AI-driven interactions, enabling readers to pause and chat with experts at any point in the book. ‘We’re thrilled to unlock these treasured books for both new readers of the classics as well as those returning to their favourites,’ said John Dubuque, Rebind’s CEO and co-founder, in a statement.

The beta collection includes classics like Dubliners, explored by John Banville, and Heart of Darkness, taught by Chloé Cooper Jones. Readers can watch scene-setting videos, read expert commentary and engage in interactive discussions within the e-books. ‘We want more people to fall in love with these books,’ said Clancy Martin, a Rebinder and team member.

In 2023, we explored the role that AI will play for both publishers and book retailers in our Browsing The Future of Bookshops market report.

Rebind, US

Strategic opportunity

Create educational platforms that use AI to provide interactive textbooks and learning materials. These tools can offer real-time assistance and personalised learning experiences, making education more engaging and effective

Swiss longevity clinic Ayun opens new space in Zurich

AI imagery by The Future Laboratory, UK

Switzerland – Ayun, a Swiss longevity clinic from Maximon, has opened in Zurich with ambitions for a global network targeting Europe and the Middle East. Ayun joins Maximon’s wider portfolio, which includes menopause start-up Frieda Health, supplement brand Avea and health analytics company Biolytica, all focused on promoting healthy ageing.

Ayun offers tiered annual subscriptions priced at £4,835 (CHF5,500, $6,200, €5,740) or £7,824 (CHF8,900, $10,035, €9,288), currently sold out, providing access to three floors of science-backed services. These include comprehensive health check-ups such as blood and biomarker analysis, DNA risk assessments and glucose-monitoring.

Members receive ongoing personalised longevity guidance encompassing nutrition, fitness and supplement plans, with treatments like cryotherapy, red light therapy, IV drips and hyperbaric chambers. To broaden accessibility, Ayun also offers scaled-back longevity checks to attract new consumers who are in the nascent stages of investing in their Longevity Lifestyle.

Strategic opportunity

Instead of promoting longevity businesses through wellness influencers, consider partnering with scientists and accredited medical practitioners to increase credibility with consumers

Stat: US consumers turn to side hustles for financial stability

Lyonesse Pictures Office. Design by Kii Inc, Japan

US – The 2024 Bankrate Side Hustles survey has revealed that about one-third (36%) of US adults have taken on supplementary work – also known as a side hustle – to cover living expenses and discretionary spending.

Consumer financial services company Bankrate commissioned YouGov to survey 2,332 US adults in June 2024, and found that more than one in three (36%) use their extra income for essential living costs such as rent and groceries, 37% use a side hustle to fund discretionary spending and 20% use it to pay off debt.

The survey also revealed that 32% believe they will always need supplementary work to sustain their lifestyles. This trend persists despite cooling inflation, indicating continued financial struggle amid the cost of living crisis.

Side hustles are particularly popular among young adults; almost half (48%) of Gen Z have a side hustle in the US, compared to 23% of Baby Boomers.

In our Work States Futures macrotrend report, we tracked the natural evolution of polywork and side hustling as workers expand their horizons beyond the confines of a single job to explore other projects and professions.

Strategic opportunity

Financial services companies should develop tools to help consumers manage and maximise multiple income streams efficiently, catering for the growing side hustle economy