Recent research from the U.S. Direct Selling Association reports Network Marketing Growing Fast in the Global Economy, in terms of both retail sales and the number of people involved.
This growth shows the vibrancy of the model as an unmatched opportunity for entrepreneurship.
Customers gravitate towards the personal touch network marketing provides, Technological advancements have helped the channel to continuously evolve.
A report by Network Marketing Times presents some facts and reasons why network marketing has grown in a turbulent global economy and why the business model is poised for continued growth over the next several years.
Some Key Highlights
Proof that Network Marketing Growing Fast in the Global Economy
- Global retail sales reached $183 billion in 2015, an increase of 7.7% since 2014.
- In 2015, 103 million people were involved in network marketing globally, up 4.4% from 2014.
- Network marketing in the U.S. experienced growth for the 6th straight year, reaching $36 billion in estimated retail sales in 2015. This is almost a 5% increase from 2014 and a new record high, outpacing the growth of both overall U.S. retail sales (1.6%) and the U.S. gross domestic product (3.5%) in 2015.
- The number of people involved in the U.S. grew from 18 million to 20 million in 2015, an 11% increase from the previous year.
A significant factor that accounts for this growth, both in sales and people involved, is the global rise of entrepreneurship.
Today more and more people want to be entrepreneurs, and network marketing provides the means to be in business for yourself, but not by yourself.
Network marketing is in prime position to capitalize on a number of macro trends in the U.S., including an aging population and the obesity epidemic. The wellness sector commands the largest share of network marketing sales. It also is the fastest growing sector.