Jul 09, 2019 General Comments Off on Number of people engaging in multilevel marketing tops 3 million
Taipei, The number of people in Taiwan engaging in multilevel marketing as of the end of 2018 topped 3 million, according to statistics released by the Fair Trade Commission (FTC) Tuesday.
The data shows that the number at the end of 2018 had grown to 3.08 million, up from 2.99 million at the end of 2017, with FTC Vice Chairman Perng Shawjiin saying that the growth means that the flexibility of the business has attracted more people.
In addition, Perng said, multilevel marketing has created an alternative source of income for people who need more funds to support their families.
The participation ratio (the number of people engaging in multilevel marketing to a population of 23.59 million in Taiwan) hit 12.92 percent at the end of 2018, up from 12.13 percent from a year earlier, indicating 12 people per 100 in Taiwan had entered the business, the data shows.
In 2018, the number of new participants in multilevel marketing totaled 962,200, up from 956,400 in 2017, the data indicates
In terms of age group among the participants in multilevel marketing, 741,000 were in the 4564 age bracket, ahead of 734,200 in the 2044 age bracket and 221,700 in the age group of 65 and older, according to the data.
Perng said the flexibility of multilevel marketing has also attracted more women to enter the business, with the number at the end of 2018 totaling 2.16 million, which accounted for 69.99 percent of the total participants, up from 68.32 percent at the end of 2017.
He said the data shows that women were the major force in the local multilevel marketing business, adding that some housewives favor the multilevel marketing business as it gives them flexibility to build up their careers while taking care of their families.
Sales generated by the multilevel marketing business totaled NT$83.03 billion (US$2.66 billion) in 2018, down 6.31 percent from a year earlier, and Perng attributed the decline partly to rising ecommerce, which has created competition against multilevel marketing.
Perng said the drop in revenue in 2018 also reflects that some companies in the business have bowed out of the business, with food supplements and cosmetics and skin care product vendors suffering the steepest fall in sales.
It was the first time in three years for the local multilevel marketing business to see a fall in revenue, the FTC said.
However, food supplement vendors generated NT$50.37 billion in sales in 2018, the majority of the revenue in 2018, ahead of the cosmetics and skin care vendors (NT$13.02 billion) and cleaning products (NT$4.47 billion), the FTC added.
Source: Focus Taiwan News Channel
Comments Off on U.S. Treasury Secretary says very concerned about Libra cryptocurrency
Comments Off on Appeals Court Asked to Pause Antitrust Ruling Against Qualcomm
Comments Off on US Denounces WTO Ruling Favoring China
Comments Off on Shanghai sees continued growth in foreign investment in
Comments Off on Chinese infrastructure projects facilitate integration in Latin America
Comments Off on Amended factory law to boost investment by up to NT$2 trillion: MOEA