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Direct Selling Market Report 2024-2033 - Size, Growth, Trends & Competitive Landscape
Direct Selling Market Report
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According to The Business Research Company's, The direct selling market size has grown strongly in recent years. It will grow from $183.41 billion in 2023 to $194.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to rise of direct-to-consumer (D2C) distribution, rise in the use of online tools, rising awareness regarding health and beauty, rising internet penetration support direct selling, and rapid growth in social media.
The direct selling market size is expected to see strong growth in the next few years. It will grow to $252.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to improving customer engagement, adoption of e-commerce and online sales, personalizing marketing strategies and customer interactions, growing consumer demand for sustainable solutions, and increasing disposable incomes. Major trends in the forecast period include increasingly adopting digital tools and platforms to enhance sales, leveraging data analytics to offer personalized experiences to customers, technological advances such as artificial intelligence (AI) can help direct selling, new product branding and advertising methods, and product innovations.
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Market Drivers and Trends:
The increasing demand for e-commerce is expected to propel the growth of the direct selling market going forward. The e-commerce industry refers to the economy sector that involves buying and selling goods and services over the internet. The increasing demand for e-commerce is due to cost efficiency, social media influence, improved logistics, and changes in consumer behavior. Direct selling provides valuable data on customer preferences, buying behaviors, and feedback, which can be used to optimize e-commerce strategies, such as personalized marketing and product recommendations. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, U.S. retail e-commerce sales for the first quarter of 2024 reached $289.2 billion, marking a 2.1% (±0.7%) increase from the fourth quarter of 2023. Therefore, the increasing demand for the e-commerce industry drives the direct selling market.
Major companies operating in the direct selling market are focused on developing innovative products, such as AI chat agents, to enhance customer engagement, streamline operations, and provide tailored solutions based on individual customer preferences and behaviors. An AI chat agent is an artificial intelligence-powered conversational agent or chatbot designed to engage in natural language interactions with users, typically to provide customer service, information, or other interactive functionalities. For instance, in April 2023, Rallyware, a US-based software development company, introduced the AI Chat Agent Set to transform direct selling operations. It represents a significant advancement in the direct selling industry, aiming to transform the distributor experience and enable companies better to support their independent sales forces through innovative technology.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Amway Corporation, Herbalife International of America Inc., Isagenix International LLC, Telecom Plus PLC, Belcorp Corporation, Natura and Co Holding SA, Avon Products Inc., Primerica Inc., Forever Living Products International Inc., Nu Skin Enterprises Inc., Atomy Co Ltd., Medifast Inc., eXp World Holdings Inc., Tupperware Brands Corp., Oriflame Cosmetics S.A., USANA Health Science Inc., Juice Plus+ Company LLC, Betterware de México SAPI de CV, PM International AG, Scentsy GB PTY Ltd., DXN Holdings Bhd, Rodan & Fields LLC, Vorwerk Deutschland Stiftung and Co KG
Direct Selling Market 2024 Key Insights:
• The direct selling market size is expected to see strong growth in the next few years. It will grow to $252.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• E-Commerce Demand Spurs Growth In The Direct Selling Market
• Innovative AI Chat Agents Revolutionize Direct Selling Operations
• Asia-Pacific was the largest region in the direct selling market in 2023
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