Amidst Job Losses, Gig Economy Witnessed Surge in People Exploring Business Opportunity: Amway India

Amway India, one of the country’s leading FMCG direct selling companies said it has witnessed a tremendous upsurge of interest in its business model from the under-35 years of age category. Amway India is a wholly owned subsidiary of Amway headquartered in Michigan, USA. In-line with its endeavor to support the revival of the Indian economy, Amway India said it 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, “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 per cent of the new registrations are under the U35 category, showing a strong affinity towards our product range and business opportunity. Additionally, at present 53 per cent of the Amway customers are under the U35 category, keen to consume our high-quality products.”

Referring to the Deloitte’s ‘Future of Work Accelerated’ report, Amway India said three in five organizations (60 per cent) 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, it said. "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," the company said in a statement.

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.

Amway India said it 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 said it 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, it claimed.