- In 2020, direct sales saw record highs in sales, sellers and customers in the U.S.
- Growth across many categories within direct selling reflects broader consumer trends
- The Happy Co. is one of fastest-growing companies in the social-marketing, direct-selling industries
The resiliency of the direct-selling industry has never been more evident than during the global pandemic. Looking forward, the country’s economic situation remains fragile, but direct sales remains a bright spot on the horizon. A recent Direct Selling News article, titled “Four Reasons for Direct-Selling Optimism Post-Pandemic,” touts all that is right with the space (https://ibn.fm/sbexN) — a space in which Sharing Services Global (OTCQB: SHRG) and its direct-sales subsidiary, The Happy Co., is emerging as one of the fastest-growing companies.
“Direct selling demonstrated its resilience in a challenging environment in the last year, achieving record highs in sales, sellers and customers in the U.S.,” stated the article. “As the U.S. economy continues its recovery from the pandemic, a continued rapidly evolving retail and labor market provides opportunities and challenges for direct selling, along with a few key reasons for long-term optimism.”
According to the Direct Sales Association’s (“DSA”) 2021 Growth & Outlook Survey, direct-selling hit record sales last year of $40.1 billion, with 7.7 million direct sellers reaching more than 41.6 million customers throughout the year.
“In the last year, direct selling was a source of in-demand products and services during a time when brick and mortar was largely shuttered and other parts of retail were slowed by significant supply chain issues,” the article reported. “You can see growth across many categories within direct selling, much of which is reflective of broader consumer trends.”
As the title indicates, the article lists four major reasons that direct sales will remain a strong economic influence moving forward. First, based on several key indicators, the direct sales sector hasn’t slowed down this year. Second, growing numbers of Americans are looking for entrepreneurial, flexible earning opportunities. “Even with declining unemployment, there will likely be demand for diversified, supplemental income streams,” the article noted. “Direct selling continues to compare favorably.”
Third, direct-selling companies are investing significant resources to transforming their companies virtually. Companies are working to integrate their e-commerce and mobile commerce efforts with the latest technology; they are also focusing on social selling, virtual events and faster payments.
“These digital transformations likely put those companies in a stronger position to compete even as the brick and mortar reopens and retail competition ramps up,” the article observes. “The ability to combine the improved e-commerce/m-commerce/social-selling experience and its increased reach with the personal touch — that is a key differentiator for direct selling and can help drive sustained growth.”
Finally, the article points to several post-pandemic retail trends that direct selling can capitalize on, including community; meeting customers with anything, anywhere, anytime; and in-person sales still representing the majority of retail for the near future.
“Even though e-commerce grew at 32% last year and is expected to grow 18% this year, e-commerce only represents a fraction of overall retail,” the article stated. “The reopening of in-person shopping provides an enormous opportunity to meet customers where they are and combine the best of both worlds, leveraging the reach and convenience of online with the community, coaching, and personalization of in-person.”
SHRG’s The Happy Co. is one of the fastest-growing companies in the social-marketing and direct-selling industries. The company has become the category creator for Happy Coffee and a recognized leader in natural nootropics.
Sharing Services Global Corporation is a publicly traded diversified company 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://ibn.fm/SHRG
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