- Sharing Services Global is building a social connectivity model through its growing direct sales portfolio, encouraging home-based entrepreneurship and widespread consumer activity
- Sharing Services’ Elevacity brand is part of a $12 billion trend in wellness consumerism that provides healthy products and services
- The direct sales industry generated $35.4 billion in retail revenues during 2018, up 1.3 percent over the prior year, and Sharing Services’ revenues have been marking record month-over-month increases
The technological revolution of the past two decades has reimagined the landscape of social experiences. People have focused a growing measure of time and work on documenting the details of their lives, whether marvelous or mundane, so they can share photos and stories with an expansive network of acquaintances via electronic media platforms. An irony of the reimagined social network is that people may be strongly connected to each other across thousands of miles while virtually unaware of other persons within close physical proximity to them at the same time.
Within the social circle revolution, direct sales’ emphasis on personalized shopping experiences has taken on a new degree of importance, as evidenced by the financial strength of direct sales innovator Sharing Services Global Corporation (OTCQB: SHRG) and its homespun Elepreneur network of independent sales associates.
Sharing Services is a multi-million-dollar operation that owns or controls an interest in companies that sell a wide array of products and services directly to the consumer, including health and wellness offerings.
The Elepreneurs elevate the company’s home-based business entrepreneurship model, furthering a model through which diverse market components work together synergistically in a common market universe.
The result of Sharing Services’ friendly, enthusiastic sales approach has been a string of monthly revenues records for the company, mirroring larger success trends for direct sellers in general.
The Direct Selling Association, a national trade association for companies that offer entrepreneurial opportunities to independent sellers, recently reported that retail sales and the number of people selling and purchasing products and services through the direct sales channel are all experiencing solid growth.
The report states that direct sales generated $35.4 billion in retail revenues during 2018, up 1.3 percent from 2017. It likewise notes that the number of direct sellers grew by 1.6 percent to more than six million people in the United States, and that there were more than 36.6 million people actively buying through direct sales channels during the year (http://ibn.fm/2mg7i).
“Retail sales were strong, thanks largely to the U.S. direct sales force and their ability to attract millions and millions of customers,” Direct Selling Association President and CEO Joseph N. Mariano stated in a release. “As we look forward and evaluate industry data, as well as national economic and retail projections, we believe the industry will continue to see modest growth during the next three years.”
The organization noted that the number of people involved in direct selling in the United States grew by 31.4 percent from 2011 to 2016, outpacing U.S. retail sales growth, and that people involved in direct selling have a higher than average percentage of annual incomes over $50,000, at 58 percent, according to Sharing Services (http://ibn.fm/c5EZl).
Wellness products and value-added services make up the most lucrative sectors of the direct selling industry. Sharing Services’ Elevacity brand, promoting such wellness products, is part of a market that commanded $12 billion in total sales during 2016.
To build on the company’s successes, Sharing Services has filed an application to uplist its stock to the Nasdaq Capital Market (http://ibn.fm/16rGf).
“We have made significant progress in strengthening our financial performance, governance and liquidity in the last 18 months since rebranding and launching our first two companies to position us for continued growth and profitability… A listing on the Nasdaq Capital Market is a natural progression for the company and our shareholders,” CEO John “JT” Thatch stated in a news release (http://ibn.fm/lVozo).
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
