Turning the tide of gig economy in the country, Amway India witnessed surge in people exploring its business opportunity in the last three months!
Ushers in a new digital era focusing on enhancing competencies of its direct retailers/sellers through digital and social tools
New Delhi, 1 September 2020: Amway India, one of the country’s leading FMCG direct selling companies is making significant strides towards strengthening the gig economy ecosystem in the country. The organization has a stated global A70 multi-year growth strategy which is focused on unleashing the power of entrepreneurship with social commerce. As part of this multi-year growth strategy, Amway India has identified the rise of the gig economy as a key global megatrend. In-line with this and in its endeavor to support the revival of the Indian economy, Amway India is focused on enabling growth for its Direct Retailers/Sellers and creating new sources of business generation for their profitable, sustainable success.
Commenting on this, Anshu Budhraja, CEO, Amway India said, “Currently, India has one of the youngest populations in the world, with 65% of its population below 35 years. According to a recent ASSOCHAM report, India’s gig economy is expected to grow at a CAGR of 17% and is likely to hit a gross volume of $455 billion by 2023. As the job market undergoes a tectonic shift, Amway India has witnessed a tremendous upsurge of interest in its business model from the U-35 category, who would otherwise opt for flexible roles in the gig economy ecosystem, a trend as per the present peculiar circumstances. Today, we have witnessed a significant surge in people exploring the business opportunity in the second quarter alone, of which 64% of the new registrations are under the U35 category, showing a strong affinity towards our product range and business opportunity. Additionally, at present 53% of the Amway customers are under the U35 category, keen to consume our high-quality products. We are committed to helping our direct sellers succeed and grow their business through continuous upskilling initiatives and world-class quality products.”
| Quick Facts |
| 64% new registrations are under the U35 category |
| Currently, 53% of the Amway customers are under the U35 category |
Furthermore, adding to this Achinta Banerjie, Senior Vice President – Sales, Amway India, said, “Historically, direct selling has played a crucial role in fueling economic growth and offers an alternative to traditional employment for those wanting a flexible opportunity to supplement household income. Today, while the traditional employment landscape is witnessing disruption, the gig economy has been observing a contrasting trend. This surge is owing to the organization’s unique business model that allows members to own and operate their own business and have a steady source of income, through guided entrepreneurship. As the Indian employment landscape undergoes massive changes, with work-from-home and flexible working hours becoming reigning trends, the gig economy is all set to become the preferred model of choice.
As per the Deloitte’s ‘Future of Work Accelerated’ report, three in five organizations (60%) are gauging increasing share of micro-entrepreneurs to reduce the dependence on the full-time workforce. The FMCG industry, one of the most dynamic sectors in India today, is witnessing a surge in micro-entrepreneurs. Amway has witnessed higher consideration and participation, as it provides better reputation, quality products and services people can believe, an opportunity to follow their passion and a sense of community. In line with the emerging trend.
There has been a paradigm shift in consumption, with holistic wellbeing at the core of consumer demands today. Amway India has been witnessing an increased preference for its new categories including Nutrilite Traditional Herbs Range, Premium Cookware, and Home & Car Air Purifier products representing the growing demand for health and wellness solutions by consumers.
In line with the Indian Government’s Skill India initiative, Amway India has been significantly focusing on a digital-first approach to enhance the competencies of its direct sellers to aid business growth and enable better market penetration, improve reach to potential customers, product accessibility and enhance the consumer experiences. Amway is also investing significantly to offer training, education and digital tools for the direct sellers. To this end, Amway has organized over 6000 training programs, engaging with over 900,000 direct sellers since the lockdown. The recently launched digital tools i.e. Amway Business App, Chatbot ‘Myra’ and improvisation of its e-commerce platform have further eased digital transformation for the direct sellers.
About Amway India
Amway India is a wholly owned subsidiary of Amway with headquarters located in Ada, Michigan, USA. Amway is the world’s #1[1] direct selling company with presence in over 100 countries & territories.
Globally, Amway is 60 years old, US$ 8.4 billion, manufacturer and direct seller of quality consumer goods. Amway’s innovation and industry-leading R&D has seen more than 780 patents granted and another 220 patents pending. Amway has nearly 500 scientists, engineers, and technical professionals who extend our innovation and science capabilities through 11 locations to deliver global, regional, and local product research and development.
Amway India sells more than 140 daily use products across categories like Nutrition, Beauty, Personal Care, Home Care and Consumer durables through Amway Direct Sellers who make personal recommendations regarding the use of distinctive quality products. Amway products are widely recognized and appreciated for their quality and value. These products are backed by a money back guarantee for 100% satisfaction of use[2].
Amway products are popular not just in India but across the world. Nutrilite is the world’s No. 1 selling vitamins and dietary supplements brand[3]. Nutrilite has established itself as a leading brand in the vitamins and dietary supplements category in India as well. Artistry is India’s No. 1 premium skincare brand[4]. Amway India also offers ‘Attitude’, an entry level premium skincare and cosmetics brand targeted at India youth. The product range has been developed taking the needs of Indian consumers into consideration.
