From Update Business Blog:
Amway (Thailand) Co, the country's largest direct-sale firm, has raised its serious concern about the weak consumer purchasing power in the second quarter of this year due mainly to economic and political problems.
Managing director Preecha Prakobkit said that consumer purchasing power remained fragile.
"Consumer sentiment hasn't improved. Sales could grow only if we organise marketing events and add sales representatives. Though our sales grew by 10% in the first four months of this year, the full-year sales growth will stand at only 7%," he said.
Despite economic uncertainties, marketing director Ratana Channara said people continued to spend their money on food supplements and cosmetics, lifting the sales of Amway in the first four months.
To tap to the trend, Amway on Thursday launched Artistry Essentials skin-care products for the first time in Thailand, aiming to tap young working people.
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I find it interesting that overall direct sales are down where in the US with the hard economic times direct sales numbers flourish. However, it sounds like they are right on track with tapping into a new younger market. This might actually spawn additional sales reps for the company too if they market it right.
cheers