Bits & Bites #181 - Business: Global Trends on Direct Selling Industry

Sunday 6 August 2017

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MLM as a business model is the preferred choice:
(a) for people who want to be in control of their own lives 
(b) for people who want to earn passive income (or an extra source of income) and be financially free and
(c) for people who want more time to live a meaningful life e.g more time to spend with family or have the freedom to do charity.

These are some global trends on where direct selling industry is placed in 2017 and beyond:

1. The Millennial Movement
This group of below-18 years old is going to be the biggest group of consumers in the market going forward. This generation is very different in terms of their thinking and attitude. "Meaning" is the new "money" to them - they must have something meaningful in their lives other than just about "money". Social responsibility is a big thing to them. After graduation, their first aspiration is to be self-employed rather than be a salary-earner. If the Millennial is not born with a golden spoon, then MLM is a viable option due to its low barrier to entry.

2. Increasingly diverse landscape
People from different parts of the world are now increasingly living in the same space. MLM becomes very interesting because the philosophy of MLM is always about coaching i.e. how do you help someone to be successful. When diverse landscapes happen, we need to cater to a lot of micro-economies within the society. There are a lot of people looking for something, so we need to have a business opportunity whereby the entry level is very fair. Even the retired generation is looking for something to do, especially if they don't have a lot of savings. Thus MLM is a fair, genuine opportunity for everyone to look into.

3. Globalisation
Globalisation nowadays is not only restricted to big organisations. It is happening everywhere because of the internet. As such, a lot of common people also want to have the opportunity to sell or market what they have outside and beyond their borders. Direct selling is one of the ways. Genuine MLM companies open up a way for you to expand across borders at a very minimum fee.

4. The changing way we buy things
The millennial generation has access to 5 digital things that the older generations do not - handphone, iPad, television, desktop and laptop. It changes the way we buy things - we tend to buy online more. However, this does not mean the retail shops will close as there will still be a need for retail shops. There is an opportunity for direct selling as there is something in-between that it can serve - providing face-to-face personal service.

5. The changing way we work
Nobody likes to be desk bound. Everybody now is looking at changing the way they work. When that happens, they want to look for something that gives them a lot of flexibility. MLM is a business that allows you to control your own time.

6. Wellness continues to surge
This is very good news because the prime priority for a lot of people now is wellness (look good feel good), preventing degenerative diseases, good healthcare etc. Companies in wellness industry can continue to prosper for a very long time.

7. The Amazon effect
Increasingly people are starting to buy products online. Direct selling serves as a good in-between for people who like a combination of Digital and Physical. We are moving into that direction. This is a gap that MLM can serve to bridge.

These trends should have us thinking why MLM is a wise choice.
Warren Buffet says that MLM is one of the best investments he has made. He also say that network marketing is more widely accepted today than any other time in the last 60 years.
Looking at these global trends, Shuang Hor has a very bright future going forward.

This post is part of a weekly series sharing Bits of mishmash on health, my business and life in general, which I find inspirational, enlightening or enriching. And Bites of delicious food I have enjoyed.

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Have an awesome day!