industry

Indian direct selling industry records USD 2.47 bn sales in 2019, ranks 15th globally


NEW DELHI: The
Indian
direct
selling
industry has recorded
sales of
USD
2.47 billion
in
2019, reporting a growth of 12.1 per cent, a report by World Federation of
Direct
Selling Associations (WFDSA) said.

This has helped the
direct
selling
industry improve its ranking to the
15th from the earlier 19th a year before, said The Global
Direct
Selling
2019 Retail
Sales report by Washington-based WFDSA.

Moreover,
in terms of the number of
direct sellers, India has been ranked at sixth position, proving employment to 57.50 lakh people.

However, the global
direct
selling
industry has reported an overall decline of 4.3 per cent
in
sales to
USD 180.47 billion
in
2019.

According to the report, the US is leading
in the list contributing 20 per cent of the global
direct
selling
industry with
sales of
USD 35.21 billion, though it has registered a marginal de-growth of 0.4 per cent.

It is followed by China with 13 per cent contribution, Korea and Germany with 10 per cent each and 9 per cent by Japan.

Terming it as a good sign for the
industry,
Indian
Direct
Selling Association (IDSA) said it now hopes to find space
in the top five players
globally much earlier than the previous estimates of a decade.

India recorded the highest year-on-year growth and CAGR over three years,
in top 20
Direct
Selling markets around the world, the association said
in a statement.

“India has recorded the highest year on year growth rate of 12.1 per cent and the the highest CAGR of 16.3 per cent over the period of last three years, amongst the top 20
direct
selling markets across the globe,” IDSA Chairperson Rini Sanyal said.

According to a latest joint report by IDSA and data insight firm Kantar, the
Indian
direct
selling
industry has witnessed a Compounded Annual Growth Rate (CAGR) of approximately 16 per cent and grown from Rs 8,308 crore
in 2015-16 to Rs Rs 13,080 crore
in 2018-19.

In this, wellness tops the chart of leading segments
in
Direct
Selling followed by cosmetics and personal care. The
Indian
Direct
Selling
Industry‘s contribution to the exchequer stood at around Rs 2,500 crore
in 2018-19, said the IDSA report.





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