- Recent DSA study reported that the direct-selling channel generated $40.1 billion in retail sales in 2020, an increase of 13.9% from the previous year
- Study shows that direct-selling companies adapted quickly to a changing world by empowering their independent sellers
- SHRG’s The Happy Co. launched in February 2021 and offers functional beverages, capsules, patches and creams
Direct sales grew almost 14% last year in the United States, according to the most recent Direct Selling Association report (https://nnw.fm/0y9ax). Sharing Services Global (OTCQB: SHRG), a publicly traded company specializing in the direct-sales sector, stands to benefit from this trend, especially as the company focuses on innovating its direct-sales efforts, including the rebranding of its subsidiary operating in this space.
The DSA study reported that the direct-selling channel generated $40.1 billion in retail sales in 2020, an increase of 13.9% from the previous year. The study also noted that the number of people selling products or services using the direct-selling model also increased, posting 13.2% growth, with 7.7 million U.S. entrepreneurs working part-time or full-time. Numbers also show that demand for direct-selling products is growing,with 41.6 million preferred customers and discount buyers purchasing through the direct-sales channel in 2020.
“U.S. Direct Selling Association (‘DSA’), the national trade association for companies that offer entrepreneurial opportunities to individuals who choose to sell products and services direct to customers, released its Direct Selling Growth and Outlook Survey results for 2020 today, showing double-digit growth in retail sales, direct sellers, and customers of the channel,” reported a recent DSA article. “Growth & Outlook is DSA’s annual survey that reports on the size and scope of direct selling in the U.S. and is audited by Nathan Associates, a third-party international economic consulting firm.”
The article went on to quote DSA president Joseph N. Mariano, who stated that “America is forever changing, no more so than during the last year. Direct sellers have proven themselves time and again to be nimble microentrepreneurs, willing and able to serve their customers and communities within a changing environment.
“The direct selling companies also adapted quickly to a world with changing needs by empowering their independent sellers with the tools to serve their customers and fellow sellers – innovative technology, updated health and safety policies, and second-to-none business support,” he continued. “During this time of uncertainty, Direct Selling Association and its members also worked to ensure that customers and salespeople alike can rely upon the highest level of business ethics. The results are clear — a record-breaking year and an unequivocal demonstration that direct selling is dedicated to serving America.”
Paul Bourquin, principal at Nathan Associates, said, “Since 1995, Nathan Associates has been proud to work with the DSA analyzing the Growth & Outlook Survey data and conducting extensive secondary research to develop industry-wide estimates for the U.S. direct selling industry. As a third-party international economic consulting firm, we deliver methodologically sound industry wide estimates to help DSA serve as a trusted source of data on the full direct selling channel in the U.S.”
SHRG’s The Happy Co. launched in February 2021 and offers functional beverages, capsules, patches and creams that elevate mood, boost energy, reduce stress, enhance sleep, increase muscles, minimize fat and tighten skin, and make users look, feel and perform like a younger person. The products are nootropics, or nutraceutical formulations derived from food sources that provide health benefits above and beyond basic nutritional value.
Sharing Services Global Corporation is dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer. Its primary division includes Elevacity U.S. LLC, the parent company of the Happy Co. and a sales and marketing company based on utilization of independent contractors as the sales force.
For more information, visit the company’s websites at www.SHRGInc.com and www.TheHappyCo.com.
NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://nnw.fm/SHRG
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