Yet you get to know about the Future of Network Marketing Industry but future Predictions won’t allow one to judge anything but history does.
Our Prime Minister Sh. Narendra Modi Ji himself promote Entrepreneurship and encouraging citizens to own your own Business because 21st century is all about Entrepreneurship. Direct Selling Industry is the fastest growing industry across the globe. It is also increasing in India. There are some facts about Direct Selling Industry in India.
And so, we Bring some of the Facts about Direct Selling Industry to make you understand it with ease, let your step-in the Industry.
- Avon was one of the first direct selling companies that presented a fully coordinated earning opportunity to its representatives. Their first consultant joined in 1886, Mrs. P.F.E. Albee. She launched her career selling perfumes door-to-door.
- Later on, in 1910 in the United States, the first version of the Direct Selling Association (DSA) was set up to look after the companies that were joining the industry — it was called The Agents Credit Association.
- And in 1930, we had the emergence of the first in-home presentation method often referred to as ‘Party Plan’. Stanley Home Products created a Party Plan Method and Hostess Reward structure.
- 1951 was the year that Tupperware entered the retail world both through retail and through the Party Plan method. They found the in-home demonstration approach to be so successful that they withdrew all their products from retail stores and began to distribute solely through direct selling.
- Then Mary Kay Ash arrived in 1963 by investing her life savings to launch her company, Mary Kay. Her company thrived on an upbeat culture of inspiration and reward for effort. Many incredible companies moved into the direct selling space at this time with great success.
- 1991 – the year the world is finally exposed to the internet. The National Science Foundation first allows commercial use of the internet, and virtual direct selling ignites!
- And Direct Selling started approx. 1995-96 in India when some International players like Sweden based co. entered in India. Prior to this some companies were running in India. Thereafter some more started their business in India.
- Industry was facing a tough phase as there is continuous officially work done in, and this is called Grey marketing.
- And then IDSA (India Direct Selling Association) introduced. IDSA is an autonomous body in this industry. The Association acts as an interface between the industry and policy-making bodies of the Government facilitating the cause of Direct Selling Industry in India.
- From 2003 to 2015 IDSA & other player asked Government to create a Regulatory body in order to form a proper legislation so that this sector can be revived.
- ( Referred Link – http://zeenews.india.com/home/legislation-will-help-expand-direct-selling-market_551236.html )
In 2015 a Report titled “Direct Selling – Mapping the industry across Indian states” mentioned following points about the Industry.
- Indian Direct Selling Industry have a size of 75 Billion INR and have potential to reach 645 Billion INR by 2025.
- The Industry has grown at CAGR of 16% from 2008-2013 but this rate declines to 4 % in 2014.
On 9th Sept 2016 Government of India issued Direct Selling Guidelines 2017 through Ministry of Consumer Affairs.
- In 2015-16 Industry growth declined to 3% due to continuous increase in Grey market.
Present Scenario of Direct Selling Industry in India
Currently Direct Selling Industry in India is going through a tough phase as Industry is not growing due to huge increase in grey market. A continuous growth in Cryptocurrency create new scam masters in the Industry who are coming up with lucrative income plan with incomplete/distorted knowledge of cryptocurrencies. People are moving to this Grey market because of incomplete knowledge, Inadequate Cybercrime experts in legislative system and No clear directive policy.
New & innovative scams are coming into market and people are pampering because of improper education system.
Companies are educating Network Marketing by making misconception that particular company is having best combination of Profile, products & plan and rest others are not in better condition.
Due to all this, students were not taking Direct selling as a sincere career. Moreover, professionals are not getting attracted towards this high potential industry. Even sincere Network marketing professionals are not suggesting their kids to join the industry.
Coming 10 Years of Direct Selling Industry in India
Next 10 years Direct Selling Industry will go through several changes in India. Till 2020 Industry will not going to move so fast due to rise to grey market in India. But during this period it is expected that proper Law on industry will take place and then Industry which is poised to grow will sudden took a leap forward to grow so fast.
Due to the following strong Reasons –
- Students & corporate employees are losing their interest in high pressure jobs with limited income.
- Jobs are declining as IT industry has been come to saturation point.
- Next big industry is Wellness/Anti-Ageing/Retail /E-Commerce etc. can move fast with Direct selling industry.
- People are more interested in doing their own business but they lack resources to create their own enterprise so they will move to this industry.
- Due to implementation of GST more corporate players will move towards this industry.
- Increased E-Commerce & Logistics will help in this change.
- During the period of 2020 to 2025 this industry is set to grow approx. 10 times. Where some weak players will be vanished from the market and some New & big player will enter into market for a longer duration.
- So 2018-2020 is the best time to join this industry so that you will be able to welcome the New distributors. You need to equipped yourself with proper & genuine information/knowledge about the industry in India and at global level. During this period this Industry will work at Global level.
That’s why we suggest you to enroll yourself in the 21st century business module that takes you to the next level of Entrepreneurship where you can generate passive income thereafter.
Basically, our priority is to serve our people with the best. Whether we’re talking about leadership, teamwork, or client service, there is no more powerful attribute than the ability to be genuinely honest.
Thank you for reading and showed your interest. You can write your suggestions, queries and questions to us below.