Global direct selling market to reach $204.89 bn by 2032 – Expert

Fri, Oct 4, 2024
By editor
3 MIN READ

Media

AKEEM Ajisafe, Managing Director, Transblue Ltd. (a QNET partner company), says the global direct selling industry is projected to reach 204.89 billion dollars by 2032.

Ajisafe said, during the second VCON 2024 Media Experience sharing webinar organised by QNET on Thursday, that the industry was valued at 167 billion dollars in 2023.

According to him, with the industry’s projected growth, Nigerian entrepreneurs are well-positioned to tap into the lucrative market.

Highlighting the significance of the industry, he said it had the potential for job creation, wealth generation and economic growth.

Ajisafe said: “Direct selling offers unique opportunity for entrepreneurs to leverage their skills and build successful businesses with minimal capital.

“Nigeria has a bright future in the direct selling industry, and by embracing this model, entrepreneurs can create jobs, generate wealth and contribute to the country’s economic growth.

“We are working to educate the public about the benefits of direct selling and dispel negative stereotypes.”

Ajisafe, however, stressed the importance of distinguishing between legitimate direct selling companies and ponzi schemes, underscoring QNET’s commitment to ethical practices and transparency.

Speaking about the V-Convention 2024, he said the platform served as a benchmark for the direct-selling industry, noting that the just-concluded event in Penang, Malaysia attracted over 8,000 attendees from 30 countries.

Ajisafe said the event showcased QNET’s commitment to empowering individuals and communities worldwide through direct selling.

He said it was also an opportunity to foster knowledge exchange, develop new ideas and propel the industry forward by bringing together a diverse group of experts, entrepreneurs, and marketing professionals.

Also speaking, QNET’s Senior Legal Counsel for Sub-Saharan Africa, Theodocia Quartey, explained the significance of the VCON media webinar.

She said that the event provided a platform for attendees to deepen their product knowledge, engage with experts and experience dynamic networking opportunities.

Quartey noted that the attendees had the opportunity to learn about QNET’s latest offerings, such as the eGuardX, a device designed to protect against the harmful effects of electromagnetic radiation.

Mr Sulaiman Aledeh, a journalist who went for the 2024 second V-Convention, said it was a gathering of like-minded individuals who were passionate about personal growth, entrepreneurship and wellness.

According to him, it is an opportunity to garner a better understanding of the company’s innovations, sustainability and direct selling model.

Aledeh commended QNET for its collaboration with law enforcement and legal experts to clamp down on those misrepresenting the brand, adding that the company’s innovations deserved more publicity.

Similarly, another Journalist, Peter Oluka, said the the convention was an opportunity for entrepreneurs to have unparalleled access to international direct selling markets, fueling business growth.

“The convention brought together thousands of entrepreneurs from around the globe, offering a unique opportunity for personal and professional growth,” he said.

Oluka also noted that the convention gave more insight about the direct selling industry and how much impact QNET had made in the area of job creation, both directly and indirectly.

QNET is an e-commerce-based direct selling business, offering a range of health, wellness and lifestyle products to customers around the world. (NAN)

A.I

Oct. 3, 2024

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