ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced the launch of ShiftPixy Labs – a new suite of marketing and support services for quick service restaurant operators (QSRs) seeing increased opportunities in the gig economy due to coronavirus restrictions and lockdowns.
Coming on the heels of the financial collapse of 2008, the gig economy began to emerge in 2009 with platforms like Uber. Since then, it has exploded in size and popularity: more than a third of the workforce in the United States is part of the gig economy and the global gig marketplace is estimated at $4.5 trillion. Areas of this market are still in a growth phase, with approximately $27 billion in new funding applied to third-party delivery startups alone.
At the start of 2020, the restaurant industry was already experiencing challenges caused by third-party delivery services and lost customer engagement, as well as employee retention and compliance. The arrival of the COVID-19 pandemic exacerbated these existing dilemmas and gave ShiftPixy’s approach to the gig economy a boost by providing operators the agility they need to meet the demands of a changing marketplace.
Through its unique gig engagement platform, ShiftPixy empowers restaurant operators to take full advantage of their human capital with powerful functionality to handle payroll, compliance and native delivery. The Company expects ShiftPixy Labs to provide additional layers of services and engagement, from business startup clear through to customer meal delivery.
“2020 has been a year of tremendous growth and transformation for ShiftPixy and I’m proud of the work we’ve accomplished in helping restaurants adapt to the challenges posed by COVID-19,” said ShiftPixy Co-Founder and CEO Scott Absher. “ShiftPixy Labs is the next stage in our evolution. This is a bold new project that’s aiming to change the way restaurants are built from the ground up. In light of the combined forces of gig economics and COVID, we think ShiftPixy Labs will be a vital resource for making operators agile amid market upheavals like we are experiencing today. We look forward to sharing more details of this exciting venture in the coming weeks.”
ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.