- The direct-sales space reported $40.1 billion in retail sales last year, an increase of 13.9% from 2019
- Successful direct-sales companies adapt quickly to a world with changing needs
- SHRG is working on multiple programs, expansion plans that will be unprecedented in the sector
The United States saw record high sales, sellers and customers in the direct-sales sector in 2020, according to the industry’s leading national trade association (https://ibn.fm/aymKA). That news bodes well for Sharing Services Global (OTCQB: SHRG), a publicly traded company specializing in the direct-sales sector.
In its annual Growth & Outlook Study, the U.S. Direct Selling Association (“DSA”) reported exciting numbers for companies — and people — involved in the direct-sales space. According to the DSA, the direct-selling channel generated $40.1 billion in retail sales in 2020, an increase of 13.9% from 2019; the number of individuals selling products or services through a direct-selling business model also increased more than 13%, with 7.7 million U.S. entrepreneurs involved on either a full-time or part-time basis; and demand for products and services offered in the direct-selling sector grew as well, with 41.6 million preferred customers and discount buyers purchasing through the direct-sales channel.
“America is forever changing, no more so than during the last year,” said DSA president Joseph N. Mariano. “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. . . . 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.”
Sharing Services Global can count itself among the savvy direct-sales companies that are nimble and quick to adapt to changing market needs. Earlier this year, the company announced a new brand identity for its two wholly owned subsidiaries: Elevacity Holdings LLC and Elevacity U.S. LLC, leading producers and distributors of nootropic, functional beverage products with a focus on health and wellness (https://ibn.fm/bPs2E). The new identity, branded The Happy Co., includes a complete redesign of both the consumer-facing website where The Happy Co. customers purchase products and the business-focused website that showcases the overarching opportunity.
A few weeks later, the company announced its newest subsidiary, a travel company called Hapi Travel Destinations (https://ibn.fm/V3ZDJ). These announcements were made alongside news that SHRG was planning to expand into both Asia and Europe. The company is focused on establishing strategic plans to make the most of the opportunities provided in the growing direct-sales industry.
“This is a very exciting time in the company, as we are working on multiple programs and expansion plans that will be unprecedented in this sector,” said Bo Short, CEO of Elevacity Holdings LLC and Elevacity International Holdings LLC. “I have been in direct selling for many years and have never seen an executive management team with such a long-term vision to reshape this industry and really serve its brand partners in this fashion. I’m excited and honored to be part of these new initiatives.”
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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