- World Federation of Direct Selling Associations reports healthy growth
- Wellness continues to be leader in U.S. space, where SHRG continues to attract customers, entrepreneurs with inclusive Blue Ocean strategy
- Strategy proves successful as reflected in robust fundamentals SHRG continues to post
Sharing Services Global (OTCQB: SHRG), a diversified holding company specializing in the direct-selling industry and network marketing is well positioned within the industry, which continues to record healthy growth, as reported by the World Federation of Direct Selling Associations (“WFDSA”) (https://ibn.fm/0aA7e). In its latest report, “2019 Direct Selling Business Results,” the WFDSA announced that worldwide retail sales showed a year-over-year sales increase of 1.4% compared to 2018 while growing at a healthy pace in the long term with five-year CAGR of 2.3% (excluding China).
Founded in 1978 as the leading international, nongovernmental, voluntary organization representing the global direct-selling industry in more than 170 countries, WFDSA has been publishing annual reports to inform its members and the general public about the latest trends shaping the industry. Other numbers of note in the report included the global sales force totaling 119.9 million independent representatives/distributors, a figure that includes more than 59 million independent representatives who are actively working to build their direct-selling businesses either as a full-time career or part-time to earn supplemental income.
“U.S. direct selling revenue not only remained stable during the past four years; it also offered many opportunities for growth,” said Ben Gamse, U.S. DSA senior marketing research manager. Direct selling enjoys a broad, diverse appeal, and is especially welcomed among younger generations of Americans who are pursuing flexible entrepreneurial opportunities (https://ibn.fm/xKqkP).
The WFDSA report also shows that wellness —the product category where SHRG operates — continues to be the leader in the U.S. direct-selling landscape with 36% of total sales. The report notes several reasons for this success. Customers are allured by the aspiration to improve their health and wellness, but they also appreciate highly personalized customer experiences that distributors provide as well as their enthusiasm for the products. A sense of community is a big part of that shopping and entrepreneurial experience.
This is precisely the strength of SHRG. The company not only operates in the most lucrative segment of the direct-selling market, but its whole philosophy is also centered around elevating lives of consumers and home-based entrepreneurs by distancing from cut-throat competition and following Blue Ocean strategy based on putting opportunities in the hands of its independent representatives, called Elepreneurs, and empowering them to take the reins on their future. SHRG nurtures people and community and creates high-quality, innovative products and success comes as a result of that. This unique approach is appreciated by consumers as reflected in the healthy financials the company continues to post.
The Sharing Services combined platform currently leverages the capabilities and expertise of various companies that market and sell products direct to the consumer through independent contractors. Two of its primary divisions include Elevacity Holdings LLC., the parent of its wholly owned subsidiary, Elevacity U.S. LLC, a health and wellness products company, and Elepreneurs Holdings LLC., the parent of its wholly owned subsidiary, Elepreneurs U.S. LLC, a sales and marketing company based on utilization of independent contractor distributors who sell the Elevacity product line.
For more information, visit the company’s website at www.SHRGInc.com.
NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG