Amway’s 2016 Global Entrepreneurship Report reveals that while interest and support for entrepreneurship is growing, gender and education gaps exist regarding who is most likely to take the leap to become a business owner.
This is the seventh-annual Global Entrepreneurship Report from Ada-based Amway, and it measures the “public pulse of self-employment around the world.”
This year’s report spans 45 countries, with in person and telephone interviews conducted with more than 50,000 men and women ages 14-99.
Amway said today the 2016 study found that 77 percent of respondents have a positive attitude toward entrepreneurship.
Amway said the results reflect a trend of individuals “seeking to work independently from an employer,” as a “desire for greater flexibility is on the rise.” It also said the interest in self-employment found in the study may explain the increasing importance
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New Zealand To Host 10,000 Elite Amway Distributors
by Nicole Dunkley • • 0 Comments
A New Zealand resort town is celebrating winning a bid to host a series of meetings for Michigan-based Amway Corp.’s China affiliate.
It’s considered a major tourism victory for the island country in the southwestern Pacific Ocean.
Queenstown will host 10,000 elite Amway China distributors for what is being described as a series of five-day incentive trips in the last half of 2018.
The tourism contract is such a big windfall that New Zealand Prime Minister John Key, who does double duty as Minister of Tourism, announced the contract last week during a visit to China.
“This is by far the biggest incentive business New Zealand has ever won, and it sends a strong message that New Zealand is a serious contender in the global incentive market,” he is quoted as saying in a statement
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Network Marketing In India
by Ted Nuyten • • 0 Comments
India and network marketing, a sleeping Giant is awakening.
Although India is the home of 1.3 billion people with over 50% youth population and the 3rd largest economy (PPP) in the world, Multi-Level Marketing is only one billion dollar in annual sales in India and growth is stagnant.
Lack of clarity in law and countless Money Chain/Ponzy schemes are responsible for the same. But Legalization process of Multi-Level Marketing (MLM) in India is getting completed now. MLM started in India by European major Oriflame in 1995.
Although Direct Selling was legal as per the Indian law, Multi-Level Marketing often confused with Money Chain, which is banned by Prize Chit & Money Circulation Schemes (banning) Act, 1978. Many Fly by Night operators mushroomed in India in the name of MLM in the last decade.
Situation became critical
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Amway Expects Centre To Draft Direct Selling Norms Soon
by Ted Nuyten • • 0 Comments
Amway India Enterprises is expecting draft guidelines for direct-selling industry in India in a couple of months. Samir Behl, regional president (Europe, Africa and India), told TOI that the company was able to dispel the Government of India’s long-standing notion on the direct-selling industry as ‘pyramid’.
According to the top Amway official, the inter-ministerial group on direct-selling would set aside the negativity and misconception and come up with a draft guidelines, which might pave way for a full-fledged legislation and regulatory framework for the industry soon. The direct-selling giant said it will remain a B2B (business to business) player and has no plans to go for tie-ups with e-tail giants like Flipkart or Amazon.
“This business does not have a pyramid structure. Had it been a pyramid, direct-selling businesses across the country would have
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Amway Targets Sales Of $1 Billion In India
by Nicole Dunkley • • 0 Comments
Amway has had a difficult ride in India with regulatory uncertainty over direct selling. Despite its former India head getting arrested over lack of clarity on what constitutes direct selling, the company continues to be bullish over investing in the country.
The company set up a manufacturing plant in Tamil Nadu last year and wants to achieve a billion dollars in sales in the country. BusinessLine met Douglas L DeVos, President, Amway Inc, on the sidelines of Make in India to discuss the company’s roll-out plans.
Are you convinced about the Make in India story?
Yes. It is gaining momentum. I think the Make in India event here is a pretty solid demonstration of the commitment. The leadership this government is showing is very encouraging.
In 2013 you made a statement that a lot of
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Amway Reports Sales of $9.5 Billion In 2015
by Nicole Dunkley • • 0 Comments
Amway Corp. on Wednesday released its 2015 financial results, announcing annual sales of $9.5 billion.
Despite constant-dollar sales growth in 70 percent of Amway’s top 20 markets, revenue fell 12 percent from a year ago, hurt by currency fluctuations and soft sales in China, where the economy experienced its slowest growth in 25 years. The company reported similar trends in 2014, when revenue dropped 8 percent to $10.8 billion.
In 2015, the company’s top 10 markets were China, South Korea, United States, Japan, Thailand, Russia, Taiwan, Malaysia, India and Ukraine. Management also singled out Brazil and Mexico as emerging markets that recorded considerable gains.
“We experienced growth in seven of our top 10 markets, and emerging markets in Latin America and elsewhere continue to perform well,” Chairman Steve Van Andel noted in Amway’s report. “Several
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Amway Reports 2015 Sales Of $9.5 Billion – Down 12%
by Ted Nuyten • • 0 Comments
Amway today announced sales of $9.5 billion USD for the year ending Dec. 31, 2015, a decline of 12 percent when compared to 2014 figures.
The direct seller saw constant dollar sales growth in 70 percent of its top 20 markets but, like many international companies, experienced soft sales in China and unfavorable currency exchange rates that negated gains.
“We experienced growth in seven of our top 10 markets and emerging markets in Latin America and elsewhere continue to perform well,” said Steve Van Andel, Amway chairman.
“Several markets achieved record sales levels in 2015 with others producing their best performance in some time. An increasingly competitive environment in China and unfavorable currency exchange rates mask a positive year overall for Amway globally.”
The company experienced notable growth in legacy markets like the United States,
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Network Marketing Changing Lives In Zimbabwe
by Ramya Chandrasekaran • • 0 Comments
The Herald newspaper in Zimbabwe features a young network marketing professional who changed his life through network marketing.
A few years ago, Tendai Chinoperekwei was living on the fringes.
With a banking and finance degree, an administrative job with a women’s organisation, he could only afford to stay in one room together with his family.
It was not until his then boss, Minister of Women’s Affairs Gender and Community Affairs Nyasha Chikwinya, introduced him to network marketing when it dawned on him that life had much more to offer than earning a salary.
Today, 34-year-old Tendai owns a house in the plushy suburb of Borrowdale and drives a top of the range car. All these rich trappings are part of his rewards for his high level marketing skills nurtured over the few years.
He belongs to
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Amway Partners Up With Microsoft
by Nicole Dunkley • • 0 Comments
Amway is working with technology major Microsoft to digitise its brick-and-mortar stores. Stores here imply outlets, where Amway distributors can place orders and collect their goods from the company.
There are 154 such Amway stores located in 150 cities in the country, with the company now looking to introduce a digital wall in each of these physical stores that will allow distributors to directly place orders, make payments and pick-up their goods without human intervention.
“This in-store digital platform will be seamlessly linked to the company website that will allow distributors to click and pick either at the store or in their homes,” says Anshu Budhraja, CEO, Amway India.
In other words, this platform would act as an omni-channel retail network, giving distributors the convenience they’ve been seeking, said Budhraja. This model will also be
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Amway Chairman Visits Russia To Commemorate 10th Anniversary
by Ramya Chandrasekaran • • 0 Comments
Amway Chairman Steve Van Andel recently visited Russia to commemorate the affiliate’s 10th anniversary. His visit included a series of employee meetings, Amway Business Owner (ABO) events and conversations with government officials and business leaders.
Amway Russia has much to celebrate since launching in 2005. In a relatively short period of time, it has become the sixth largest market for our global enterprise and continues to show resiliency and promise, despite recent political unrest and economic slowdowns in the region.
The largest selling category for the market is home care, followed by personal care, nutrition and beauty. Nearly a third of all ABOs are under the age of 35. Amway Russia also has become a champion of entrepreneurship—especially women empowerment, as more than 80 percent of the market’s ABOs are female.
One of their local efforts to