Direct Selling Market and the Effects of Social Media

NEW YORK, April 4, 2018 /PRNewswire/ --

The modern direct selling market is diverse and includes sales made through the party plan, one-on-one demonstrations, and other personal contact arrangements as well as internet sales. In early 2017, the World Federation of Direct Selling Associations (WFDSA) reported that global direct sales increased 1.9% from US$179.2 billion in 2015 to $182.6 billion in 2016. The report also indicates that the direct selling industry has shown sustained growth with a 3-year compound annual growth rate (CAGR) of 5.2% from 2013 to 2016. Direct selling strategies are significantly impacted by the rise of social media platforms, as new strategies and consumer preferences are now center stage. Sharing Services, Inc. (OTC: SHRV), SPAR Group, Inc. (NASDAQ: SGRP), Insignia Systems, Inc. (NASDAQ: ISIG), Iconix Brand Group, Inc. (NASDAQ: ICON), Nova LifeStyle, Inc. (NASDAQ: NVFY)

A report by Forbes comments on the role technology and social media is expected to play in the direct selling market. "Historically, many direct sales companies have focused their marketing efforts on recruiting consultants, or representatives, who can then leverage their individual networks to attract customers to the brand. With the advent of online shopping and social media, this model requires an upgrade. Though consultants' individual networks can still be leveraged, both through social media and face-to-face encounters, direct sales companies also need to refine their brand image in a larger public sphere and extend their focus to the end customer," Forbes reported.

Sharing Services, Inc. (OTC: SHRV) on March 26th the company announced breaking news that, "revenues for the quarter of $960,000, representing a corporate milestone. "Only three months after bringing our products to market, we are pleased to report the achievement of revenues of approximately a million dollars," stated CEO John "JT" Thatch. "We attribute this landmark achievement to the execution of our team members and their determined commitment to delivering a proper mix of products and services to the marketplace."

Sharing Services, Inc., continues to gain traction in the direct selling industry, where the Company owns, operates or controls an interest in several companies that offer products and services ranging from health and wellness, energy, technology, insurance services, training, media and travel benefits.

In recent months the Company has implemented several actions to support its pursuit of international expansion, including a new corporate headquarters to accommodate growth and a joint-venture agreement to market its Elepreneur Brand and products in Asia. Moving forward, the Company anticipates continued momentum and brand building on a global scale."

Robert Oblon, Chairman of Sharing Services, added, "We look forward to continued growth and increased revenues as Sharing Services, Inc., progresses in offering innovative products and services through direct-selling distribution channels. Our next goal, which we anticipate achieving this year, is to create a presence in the global markets.""

SPAR Group, Inc. (NASDAQ: SGRP) is a diversified international merchandising and marketing services Company and provides a broad array of services worldwide to help companies improve their sales, operating efficiency and profits at retail locations. The Company provides merchandising and other marketing services to manufacturers, distributors and retailers worldwide and coordinates the operations through the use of multi-lingual proprietary technology which drives the logistics, communication and reporting for global operations and customers. Earlier this year, the company announced a global partnership with Sales Services International (SSI), a pan-European network of independent agencies that provides merchandising and field marketing services to 26 countries in Europe. The partnership makes SPAR Group the representative agency for the SSI network in all countries where SPAR operates and expands the reach of SPAR to 36 countries worldwide, including all of Europe.  As a member of SSI, SPAR will now be able to actively pursue and participate in global initiatives and opportunities for brands and retailers worldwide.

Insignia Systems, Inc. (NASDAQ: ISIG) markets in-store advertising products, programs, and services primarily to consumer packaged goods manufacturers. Last year, the company announced the nationwide launch of freshADSSM, a first of its kind marketing program positioned within the produce department. freshADSSM was developed in partnership with Twist-Ease, Inc. and has been designed to help both brands and retailers combat the steady decline in center store grocery sales. freshADSSM was created through extensive research conducted with shoppers, brands & retailers, all of whom were looking for inspiring meal solution ideas to aid in building the basket. freshADSSM is currently available in over 2,000 grocery stores, across 35 states, and 19 different banners.

Iconix Brand Group, Inc. (NASDAQ: ICON) owns, licenses and markets a portfolio of consumer brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution in both the U.S. and worldwide. Through its in-house business development, merchandising, advertising and public relations departments, Iconix manages its brands to drive greater consumer awareness and equity. Last month, the company reported financial results for the fourth quarter and full year ended December 31, 2017. For the fourth quarter of 2017, licensing revenue was $52.3 million, an 11% decline as compared to $58.8 million in the prior year quarter. Revenue in the fourth quarter of 2016 included approximately $4.0 million of licensing revenue from the Sharper Image brand which was sold in the fourth quarter of 2016 and $1.3 million of licensing revenue from the Company's Southeast Asia joint venture which was deconsolidated in the second quarter of 2017.

Nova LifeStyle, Inc. (NASDAQ: NVFY), a U.S. company headquartered in California, is an innovative designer and modern lifestyle furniture company. Nova's products are made in the U.S. and Asia, and marketed worldwide. The company's products currently are sold in over 20 countries worldwide, with the U.S., China and Europe as its principal markets. In the U.S., the company sells products through its Diamond Sofa brand to distributors and retailers. Recently, the company announced outstanding financial results for the fourth quarter and twelve months ended December 31, 2017. Fourth quarter revenues were $35.7 million, up 79.3%, compared to $19.9 million in the prior year period.

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