Direct Selling booms in the midst of economic crisis
As many sectors feel the pinch from the global downturn, the direct selling industry appears to go from strength to strength.
Mr. Jijith N.K, the Regional Manager for DXN GCC, stated: “During this crisis period we have seen people looking for helping hand to survive and we are so happy to see many of our members who have lost their job are surviving with the income they received from DXN. Many who returned to their countries were going with the hope of continuing their journey with DXN.”
Figures from 2008 & first quarter of 2009 global revenues from direct selling shows a rapid growth in the sector especially within the Middle East region.
Direct selling is a $114bn industry which involves more than 62 million distributors worldwide, according to the World Federation of Direct Selling Associations. It is the sale of a consumer product or service, person-to-person, away from a fixed retail location, which has become a large part of the economy in many countries.
There appears to be specific reasons why the sector fares well during times of economic turmoil. At a time when many UAE residents may welcome a way to supplement their income direct selling provides an ideal platform for many to boost their earning capacity as independent contractors.
Mr. Eliser Salvador, Managing Director of Forever Living Products added, “Network Marketing is the only industry where business really kicks off when the recession is there. This is not the first time it had happened as a business trend in FLP company, in fact the company had witnessed the same business growth a couple or more times during its 31 years of existence.”
“We have a perfect example, a young couple employed in the corporate world, the husband was terminated and opted to go full time in his business with us. A couple of months later the wife was informed that her salary will be reduced, and she opted to be terminated instead and also joined her husband to do it full time. Now they are earning a monthly average income of a little over Dhs.25,000.00, and are enjoying more time with their kids at home,” he added.
The two of the major companies operating in GCC – DXN and Forever Living Products affirmed that ‘Business is Booming’ based on their increasing sales trend report, released recently. Other companies that have announced similar results include Better Globe, Seanet International, RMP Infotec, Amega Global. Recently established direct selling companies in the market are Oriflame and Konark Medicare.
Earlier this year, DSEI (Direct Selling Educational Institute) in collaboration with Linkviva Events held the 2nd International Direct Selling Festival in Dubai, the only exhibition and conference dedicated to the industry.
The event garnered over 4000 visitors from the region which proves the potential of this market. This success has created a huge interest within the industry leaders to now eye Dubai as the next big market.
In 2010, Dubai 3rd International Direct Selling Festival will be held on 14th to 15th May. It will showcase available direct selling products & oppotunites offering individuals in the region variety of choices to supplement their income.
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