The direct sales industry in 2024 continues to be a significant sector, evolving with technological advancements and changing consumer preferences.
Everyone’s looking for ways to become rich in MLM or just how to generate money in network marketing nowadays. With a focus on personalized customer experiences, direct sales companies make effective use of digital tools to engage and expand their reach and this helps effectively. Direct selling companies are increasingly gaining traction in India as they tap into the growing market for beauty, wellness, and lifestyle products. The global expansion of the MLM industry encompasses a wide range of products, including beauty, wellness, home goods, and more, catering to diverse consumer needs.
Did you know?
As per a report, the direct selling future has the potential to reach a market size of INR 645 billion by 2025.
The Evolution of Direct Sales: A 2024 Perspective
The direct sales industry has shown extraordinary growth. The use of tools like MLM calculators is becoming essential for optimizing compensation plans and managing network performance effectively. Key market trends include the growth of eCommerce and the rise of home-based businesses, reflecting a shift towards online shopping and flexible work environments.
The rise of data analytics has improved the personalization of marketing strategies and targeted customer engagement. The COVID-19 pandemic accelerated the shift to virtual events and online sales, leading to the development of hybrid selling models that blend online and offline approaches.
Financial evolution of direct sales in the recent years
According to WFDSA, in 2022, direct sales across the globe brought in $172.89 billion in retail sales. This was a small drop of 1.5% from the year before, but it still shows how important and big the industry is. The direct sales market is projected to grow significantly over the next five years, with a strong Compound Annual Growth Rate (CAGR).
List of new direct sales companies by revenue
| SNO | COMPANY | REVENUE in 2023 (Million USD) | REVENUE in 2022 (Million USD) | COUNTRY | YEAR FOUNDED |
|---|---|---|---|---|---|
|
1 |
Crowd1 |
625 |
625 |
UAE |
2019 |
|
2 |
Color Street |
597 |
597 |
USA |
2017 |
|
3 |
RIMAN |
545 |
545 |
South Korea |
2018 |
|
4 |
GS Partners |
370 |
114 |
Comoros |
2020 |
|
5 |
Greenway Global |
265 |
265 |
Czechia |
2017 |
|
6 |
New U Life |
250 |
250 |
USA |
2017 |
|
7 |
Jifu |
120 |
20 |
USA |
2018 |
|
8 |
BE |
99 |
99 |
USA |
2018 |
|
9 |
iX Global |
86 |
207 |
USA |
2020 |
|
10 |
VYVO |
70 |
70 |
USA |
2019 |
|
11 |
QuiAri |
70 |
60 |
USA |
2019 |
|
12 |
VIIVA |
69 |
69 |
USA |
2019 |
|
13 |
The Super Patch Company |
55 |
10 |
USA |
2022 |
|
14 |
ByDzyne |
35 |
35 |
USA |
2019 |
|
15 |
iBuumerang |
35 |
35 |
USA |
2019 |
|
16 |
Red Aspen |
30 |
25 |
USA |
2017 |
|
17 |
Bellame |
30 |
25 |
USA |
2018 |
|
18 |
Velovita |
28 |
8 |
USA |
2020 |
|
19 |
Root Wellness |
25 |
25 |
USA |
2020 |
|
20 |
Neumi |
25 |
13 |
USA |
2021 |
Top 10 New Direct Sales Companies for 2024
Crowd1
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Country: UAE
-
Year Founded: 2019
-
Overview: Crowd1 is a network marketing company that focuses on digital products and services. It offers a unique platform combining crowd marketing and online networking, catering to a global audience.
-
Achievements: Reached over 40 million members worldwide and recognized for its rapid expansion in emerging markets.
Color Street
-
Country: USA
-
Year Founded: 2017
-
Overview: Color Street specializes in nail polish strips, offering a variety of designs and colors. The company’s products are known for their convenience and ease of application, making them popular among consumers.
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Achievements: Awarded for product innovation in beauty and achieved significant growth with over 100,000 independent stylists.
RIMAN
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Country: South Korea
-
Year Founded: 2018
-
Overview: RIMAN provides high-quality skincare and beauty products. It emphasizes innovative formulations and caters to both local and international markets, leveraging South Korea’s reputation in the beauty industry.
-
Achievements: Expanded to over 15 countries and recognized for sustainable and eco-friendly product lines.
GS Partners
-
Country: Comoros
-
Year Founded: 2020
-
Overview: GS Partners offers blockchain-based financial products and services. The company is known for its commitment to transparency and security, providing users with innovative financial solutions.
-
Achievements: Developed a robust blockchain ecosystem and achieved a significant user base in Africa and Asia.
Greenway Global
-
Country: Czechia
-
Year Founded: 2017
-
Overview: Greenway Global focuses on eco-friendly and sustainable home products. It emphasizes the importance of environmentally conscious living, offering a wide range of household items.
-
Achievements: Received multiple awards for sustainability and expanded its product line to include over 200 eco-friendly products.
New U Life
-
Country: USA
-
Year Founded: 2017
-
Overview: New U Life specializes in health and wellness products, particularly those aimed at anti-aging and vitality. It is recognized for its innovative approach to personal wellness.
-
Achievements: Launched groundbreaking HGH gel product and achieved recognition as a top wellness brand in the U.S.
Jifu
-
Country: USA
-
Year Founded: 2018
-
Overview: Jifu offers travel and lifestyle services, focusing on providing cost-effective solutions for adventurous consumers. It connects members to exclusive travel deals and experiences.
-
Achievements: Partnered with major travel brands and reached over 1 million users globally.
BE
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Country: UAE
-
Year Founded: 2018
-
Overview: BE is a technology-driven company offering a variety of digital services and products. It emphasizes the integration of technology with daily life to enhance productivity and convenience.
-
Achievements: Developed innovative apps and platforms, and recognized for its impact on digital transformation in the Middle East.
iX Global
-
Country: USA
-
Year Founded: 2020
-
Overview: iX Global focuses on personal development and financial education. It provides its members with resources and tools to improve their financial literacy and personal growth.
-
Achievements: Successfully launched a comprehensive financial education platform and expanded to over 50 countries.
VYVO
-
Country: USA
-
Year Founded: 2019
-
Overview: VYVO combines technology and wellness, offering wearable devices that monitor health metrics. The company aims to empower individuals with actionable insights to improve their well-being.
-
Achievements: Released wearable technology and achieved significant sales growth in the wellness sector.
Criteria for Selecting New Direct Sales Companies
When selecting new direct sales companies, consider the following criteria:
Multiple Commission Modules
Secure MLM Software efficiently manages multiple commission distributions based on the compensation plan. Benefits include customization, accurate calculations, and streamlined operations, ensuring timely and precise payments to distributors.
By making use of these features, direct selling businesses can optimize their operations, enhance distributor satisfaction, and achieve sustainable growth.Secure MLM Software is a powerful tool that supports the complex needs of MLM businesses, driving them towards success.
Criteria for Selecting New Direct Sales Companies
When selecting new direct sales companies, consider the following criteria:
Innovation and Unique Product Offerings
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Look for companies that introduce innovative products or services that stand out in the market.
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Evaluate whether the company’s offerings meet current consumer needs or address gaps in the market.
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Consider the use of new technologies or business models that differentiate them from competitors.
Growth Potential and Market Impact
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Assess the company’s potential for growth in both domestic and international markets.
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Analyze sales trends, revenue growth, and expansion plans to understand their market impact.
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Consider the scalability of their business model and their ability to adapt to changing market conditions.
Reputation and Industry Recognition
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Investigate the company’s reputation among consumers, partners, and within the industry.
-
Look for awards, certifications, and recognitions that validate their credibility and performance.
-
Consider customer reviews and testimonials to gauge satisfaction and trustworthiness.
Trends in Direct Sales for 2024
Focus on Health and Wellness Products
Direct sales companies are putting more emphasis on health and wellness products because people want to live healthier lives. This trend includes things like vitamins, natural skincare products, fitness gear, and personalized health plans. People are becoming more interested in taking care of their health before problems arise, so these products are becoming more popular.
Use of Technology in Health
Companies are using technology in their products, such as fitness trackers and health-monitoring apps. More people are using digital health services like online doctor visits and personalized health advice. This trend shows how health and technology are coming together, allowing companies to offer easy-to-use tools that help people track and improve their health.
Growth in Blockchain and Cryptocurrency
The direct sales industry is seeing more use of blockchain and cryptocurrency. These technologies make transactions safer and more transparent, which is appealing to tech-savvy customers. Companies are using blockchain to build trust and make business processes easier and more secure.
Rising Importance of Mental Wellness
Mental wellness products and services are becoming more important as people become more aware of mental health issues. Companies are offering things like stress-relief products, meditation apps, and mental health support. This trend highlights the need for a balanced approach to health, focusing on both mental and physical well-being, as people look for ways to manage stress and improve their overall happiness.
How to Choose the Right Direct Sales Company?
Assessing Company Reputation and Longevity
When choosing a direct sales company, start by checking its reputation and how long it has been in business. Look for companies with positive reviews, strong customer feedback, and a solid track record. A company with a long history is often more reliable and established as it indicates stability and trustworthiness.
Evaluating Product Quality and Market Demand
Consider the quality of the products the company offers and whether there is a strong demand for them. High-quality products that meet consumer needs are more likely to succeed. Research market trends to ensure the products are in demand and have a good chance of selling well.
Understanding Compensation Plans and Growth Opportunities
Review the company’s compensation plan to understand how you will earn money and what incentives are available. Look for clear, fair, and motivating compensation structures. Additionally, consider the growth opportunities the company provides, such as training, support, and potential for advancement within the business.
Conclusion
How to become a millionaire in network marketing is a question everyone interested in the direct selling industry is wondering. They emphasize strategic growth, cultivating a network, and applying effective sales techniques, which are crucial for achieving significant success.
Selecting the right direct sales company is crucial for success in this industry. A well-chosen company can offer stability, quality products, and a rewarding compensation plan.Additionally, with the increasing reliance on digital tools, ensuring data security in MLM businesses is essential to protect sensitive information and build trust with both clients and partners.
As we move into 2024, there are many new opportunities in the direct sales sector. Choose the right MLM plan that fits your needs and explore these options. With the industry’s ongoing growth and potential, now is a great time to find a company that aligns with your goals and values, setting yourself up for success in the future.
