Herbalife Nutrition, a global health and wellness company and community, released the findings of its 2023 Asia Pacific Side Job Survey, showing that 1 in 2 (53%) Malaysians have a side job and the top reason for doing so is to make ends meet (68%).
Other reasons for starting a side job included dealing with the rising cost of living (56%) and having a financial safety net (48%). Recently the Employees Provident Fund (EPF) also revealed that two million of its members aged 40 and above have less than RM10,000 in their savings accounts, while 2.64 million of its members aged between 40 and 54 have not made any contributions in the past few years.
Commissioned by Herbalife Nutrition and conducted via One Poll among 1,000 Malaysians, the survey found that Gen Z (90%) and Millennials (89%) were the keenest to consider a side job as a source of supplementary income compared to other age groups. Overall, the most common types of side jobs were selling products on e-commerce websites, tutoring, making deliveries and direct sales.
Steven Chin, Senior Director and General Manager of Herbalife Nutrition Malaysia and Singapore said, “With the current economic landscape, it is more important than ever for Malaysians to start seeking additional ways to supplement their income and improve their financial situation and resilience. Our country is the sixth largest market in the world for direct selling, with sales reaching RM 37 billion in 2021. This makes the industry a viable avenue for people to explore.”
“The direct-selling industry can offer a flexible and low-cost way to earn extra income, where individuals decide for themselves how much time and effort they want to put into selling a product. Direct selling also enables a personalised experience and this is important for sectors like health and wellness.”
Chin also highlighted that like all businesses, there are many variables that influence success and income may vary from entrepreneur to entrepreneur.
“For those interested in pursuing direct selling, it is crucial to work with reputable companies that are licensed by the Ministry of Domestic Trade and Cost of Living (KPDN) and adhere to the industry’s stringent regulations,” said Chin.