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The Growing Demand Of Direct Selling Industry in India

 गुरुवार, 06 फरवरी 2020 13:17 created by varun bhardwaj   Last modified on मंगलवार, 18 फरवरी 2020 12:01 Read 1612 times

The Indian direct selling industry grew around 13 per cent in 2018-19 with sales totaling around Rs 13,000 crore, in which wellness products contributed over half of the total volume, said a IDSA report.

Besides, the industry also contributed around Rs 2,500 crore to the exchequer during the period, according to the Indian Direct Selling Association's (IDSA) Annual Survey 2018-19. In India, the direct selling industry has existed for several years, but the entry of global companies during the last five years has accorded greater visibility to this industry, which is still in a nascent stage.

The role of best direct selling companies has been as integral to the country’s retail sector However, technology, higher awareness, and a proven business model now leave the industry well placed for a period of sustained scale. The segment is likely to reach Rs 15,930 crores by 2021 at a CAGR of around 4.8 percent. A significant factor behind this change is the fact that direct selling fosters entrepreneurship. Several features of the direct selling mean that entrepreneurship is built into its operating framework like empowering people based on intent and motivation, not just experience.

According to a report, the total number of direct sellers in India stood at around 5.7 million, in which the industry comprised almost equal number of male and female direct sellers. Out of the total industry sales, over 50 per cent came from wellness products, which include weight management supplements, energy bars and drinks.

The industry also has its advantages from a customer perspective. Today’s retail consumers expect convenience, the best prices, and personalized interactions. Top direct sales companies advantage lies in its personalized transactional experience. Direct sellers are encouraged to build authentic and trusting customer relationships that are beneficial in the long term. For buyers, this means an open and honest selling experience in the comfort of their home or workplace. Also, since direct sellers provide valuable first-person insights into consumer expectations, direct selling companies are quick to respond to market developments.

 (Credits: ET Retail.com )

 
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