GUANGZHOU, China, Oct. 8, 2021 /PRNewswire/ -- WFDSA World Congress 2021 "Tomorrow is Now", Virtual Edition, was held on October 6-7 in Bangkok, Thailand. The World Federation of Direct Selling Associations' (WFDSA) chairman Roger Barnett, vice chairman Lam Yu, vice chairman Magnus Brannstrom, secretary Dr. Dora Hoan and executive director Tamuna Gabilaia, as well as CEOs and representatives from dozens of world-leading direct selling companies attended the event, to share their experiences and collaborate on the next steps forward for the development of the industry. Mr. Yu, the WFDSA vice-chairman and CEO of Infinitus Global, shared his views on the current status of and prospects for the direct selling industry and analyzed the challenges and opportunities facing the industry today.
Over recent years, the COVID-19 pandemic and digitalization have had a profound impact on a wide range of industries, including direct selling. Yu pointed out that following the pandemic, two significant trends have accelerated in China. The first is the increased consumption in health and wellness, and the second is increasing online-offline integration. Direct selling companies, such as Infinitus, provide health products to consumers and actively promote health concepts. In addition, the biggest advantage of the direct selling industry in the past has been its offline business, which is face to face and can be warm and sincere. With digital transformation, the direct selling sector can combine this offline warmth with the speed of online business. In general, the direct-selling industry has already conformed to these two trends.
In 2020, the global direct selling industry recorded US$179 billion in total sales, an increase of 5.8%, while the number of independent distributors surpassed 125 million, an increase of 4.3%, according to a WFDSA report. The industry, despite taking a hit from the COVID-19 pandemic, is still showing sound growth potential amid a downward market trend.
The direct selling industry has been around for more than 100 years. This purpose of this year's conference is to facilitate the healthy growth of industry and for it play a greater role in the global economic ecosystem of the future.
Yu emphasized at the event that, the most important thing at the moment for the direct selling industry is to change how we think and redefine direct selling. Only in this way can the industry embrace a better future. As a player in the health industry, Infinitus is committed to creating a balanced, rich, harmonious and healthy life for all, and will actively contribute to the healthy and sustainable development of the industry.
