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Amway Reports 2019 Sales of $8.4 Billion

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Amway, the world’s largest direct seller, announced sales of $8.4 billion for the year ending Dec. 31, 2019, down 5 percent from 2018 figures.

China, Amway’s largest market, saw significant declines in the overall direct selling industry, yet Amway was able to improve market share and move up a spot to become the country’s number two direct selling company.

“In 2019, we celebrated our 60th anniversary and now we are looking ahead to our 70th to unleash entrepreneurship for the next generation,” said Amway Chief Executive Officer Milind Pant. “Amway is already aligned with some of the biggest global trends, like the gig economy, increasing consumer demand for product experiences that support a healthy lifestyle, and the rise of communities on social media that connect people with similar passions and interests. Our new multi-year growth strategy and investment plan will help ABOs capitalize on these trends to support their customers.”

Amway is investing more than $500 million in 2020 in digital platforms, product innovation and independent Amway Business Owner (ABO) compensation, all to drive global enterprise growth and enable ABOs to better meet the needs of their customers.

According to the company, one new digital platform that already is helping ABOs provide a more compelling customer experience is the 3E “Easy, Early, Earning” platform in China. 3E focuses on selling products through social commerce, in partnership with global technology leader Tencent. Through the platform, ABOs receive commissions from new customer referrals and new customers can receive product discounts by sharing with friends. Amway is investing in multiple digital capabilities to globally roll out similar programs.

Another investment area for Amway is Core Plus+, a new incentives program that increases the earning opportunity for those who choose to start their business with Amway and rewards best practices in building a strong, sustainable business. Benefits include more earning potential, more consistency and more predictability so ABOs can set goals and make plans for more than just the year ahead.

The company also will continue to invest in traceability in nutrition and beauty through natural ingredients, especially the botanicals grown on its own certified organic farms – nearly 6,000 acres of certified organic farmland in the U.S., Mexico and Brazil, where Amway grows, harvests and processes plants using sustainable farming methods. These plant ingredients have long been a key differentiator for Nutrilite supplements and will also prominently feature even more in Artistry skin care.

The nutrition category of vitamins, dietary supplements and weight management products continued to be the top sales category for Amway, representing 54 percent of sales, up one percent from 2018. Beauty and personal care were 25 percent of sales, down less than one percent from last year.

Amway’s top ten markets include China, the U.S., Korea, Japan, Thailand, Taiwan, India, Russia, Malaysia and Hong Kong.

Amway Reports 2019 Sales of $8.4 Billion

by Leave a Comment

Amway, the world’s largest direct seller, announced sales of $8.4 billion for the year ending Dec. 31, 2019, down 5 percent from 2018 figures.

China, Amway’s largest market, saw significant declines in the overall direct selling industry, yet Amway was able to improve market share and move up a spot to become the country’s number two direct selling company.

“In 2019, we celebrated our 60th anniversary and now we are looking ahead to our 70th to unleash entrepreneurship for the next generation,” said Amway Chief Executive Officer Milind Pant. “Amway is already aligned with some of the biggest global trends, like the gig economy, increasing consumer demand for product experiences that support a healthy lifestyle, and the rise of communities on social media that connect people with similar passions and interests. Our new multi-year growth strategy and investment plan will help ABOs capitalize on these trends to support their customers.”

Amway is investing more than $500 million in 2020 in digital platforms, product innovation and independent Amway Business Owner (ABO) compensation, all to drive global enterprise growth and enable ABOs to better meet the needs of their customers.

According to the company, one new digital platform that already is helping ABOs provide a more compelling customer experience is the 3E “Easy, Early, Earning” platform in China. 3E focuses on selling products through social commerce, in partnership with global technology leader Tencent. Through the platform, ABOs receive commissions from new customer referrals and new customers can receive product discounts by sharing with friends. Amway is investing in multiple digital capabilities to globally roll out similar programs.

Another investment area for Amway is Core Plus+, a new incentives program that increases the earning opportunity for those who choose to start their business with Amway and rewards best practices in building a strong, sustainable business. Benefits include more earning potential, more consistency and more predictability so ABOs can set goals and make plans for more than just the year ahead.

The company also will continue to invest in traceability in nutrition and beauty through natural ingredients, especially the botanicals grown on its own certified organic farms – nearly 6,000 acres of certified organic farmland in the U.S., Mexico and Brazil, where Amway grows, harvests and processes plants using sustainable farming methods. These plant ingredients have long been a key differentiator for Nutrilite supplements and will also prominently feature even more in Artistry skin care.

The nutrition category of vitamins, dietary supplements and weight management products continued to be the top sales category for Amway, representing 54 percent of sales, up one percent from 2018. Beauty and personal care were 25 percent of sales, down less than one percent from last year.

Amway’s top ten markets include China, the U.S., Korea, Japan, Thailand, Taiwan, India, Russia, Malaysia and Hong Kong.

Erik Coover Named Isagenix Chief Visionary Officer

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Isagenix International announced that Erik Coover has been appointed the company’s new chief visionary officer.

Coover, son of Isagenix co-founders Jim and Kathy Coover, was promoted earlier this year to chief visionary officer with the main focus of driving the company’s strategic vision, originally established by his parents, to impact world health and free people from physical and financial pain, and in the process, create the most trusted and respected health and wellness company in the world.

“Erik is a perfect fit for this position because of his visionary leadership,” said Travis Ogden, Isagenix’s chief executive officer. “He has worked his way up at Isagenix over the past decade, so he intimately understands the needs of our customers and our independent distributors. Alongside our incredible executive leadership team, Erik will help Isagenix stay steadfast in our approach as we focus on significant developments in technology and product innovation in 2020.”

Coover currently leads the fastest-growing Isagenix demographic—millennials—and spearheads the company’s aggressive sustainability initiatives with a goal of zero waste packaging by 2028.

Erik Coover Named Isagenix Chief Visionary Officer

by Leave a Comment

Isagenix International announced that Erik Coover has been appointed the company’s new chief visionary officer.

Coover, son of Isagenix co-founders Jim and Kathy Coover, was promoted earlier this year to chief visionary officer with the main focus of driving the company’s strategic vision, originally established by his parents, to impact world health and free people from physical and financial pain, and in the process, create the most trusted and respected health and wellness company in the world.

“Erik is a perfect fit for this position because of his visionary leadership,” said Travis Ogden, Isagenix’s chief executive officer. “He has worked his way up at Isagenix over the past decade, so he intimately understands the needs of our customers and our independent distributors. Alongside our incredible executive leadership team, Erik will help Isagenix stay steadfast in our approach as we focus on significant developments in technology and product innovation in 2020.”

Coover currently leads the fastest-growing Isagenix demographic—millennials—and spearheads the company’s aggressive sustainability initiatives with a goal of zero waste packaging by 2028.

Herbalife Announces John Agwunobi to Assume Chairman of Board Role

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Herbalife Nutrition announced  that John Agwunobi, who will become CEO effective March 30, 2020, will also assume the role of Chairman of the Board, effective upon his election to the Board at the upcoming Annual Meeting of Shareholders. Michael Johnson will retire as Chairman and CEO after 17 years at the company.

James Nelson, Lead Independent Director of the Board, commented, “Michael Johnson has been a tremendous leader of Herbalife Nutrition for the last 17 years, setting the course and overseeing a period of extraordinary growth marked by global expansion, significant product innovation and deep connections to distributors and customers around the world. On behalf of the entire Board, I thank Michael for being the architect of the Company’s success to date and for laying a strong foundation for continued growth under John Agwunobi’s leadership. We have complete confidence that John will continue where Michael leaves off as Chairman and CEO and are eager for him to bring his vision and unique skills to leading the Company.”

Johnson added, “I couldn’t be more proud of the incredible strides our employees and distributors have made to advance our mission to change lives and communities around the world. John has been a critical contributor to these efforts over the last several years and as we’ve worked together to prepare to transition the leadership of our Company, it’s become clear he is ready to assume both the CEO and Chairman roles now. With John at the helm of the Company and the Board, I know that our mission will endure, and expect that Herbalife Nutrition will continue to grow.”

Agwunobi added, “Michael’s tenure with Herbalife Nutrition has been nothing short of extraordinary, leading overall net sales growth from $1.2 billion in 2003 to $4.9 billion in 2019. We are all grateful for his dedication to the Company, our people and our mission, and we know that he will always be part of the Herbalife Nutrition family. Looking to the future, I am energized by knowing that each day we are meeting a growing need for millions of people around the globe who want to improve their nutrition and wellness. We plan on expanding our reach by working with our distributors and providing them with further opportunities to grow their business and serve even more customers.”

 

Herbalife Announces John Agwunobi to Assume Chairman of Board Role

by Leave a Comment

Herbalife Nutrition announced  that John Agwunobi, who will become CEO effective March 30, 2020, will also assume the role of Chairman of the Board, effective upon his election to the Board at the upcoming Annual Meeting of Shareholders. Michael Johnson will retire as Chairman and CEO after 17 years at the company.

James Nelson, Lead Independent Director of the Board, commented, “Michael Johnson has been a tremendous leader of Herbalife Nutrition for the last 17 years, setting the course and overseeing a period of extraordinary growth marked by global expansion, significant product innovation and deep connections to distributors and customers around the world. On behalf of the entire Board, I thank Michael for being the architect of the Company’s success to date and for laying a strong foundation for continued growth under John Agwunobi’s leadership. We have complete confidence that John will continue where Michael leaves off as Chairman and CEO and are eager for him to bring his vision and unique skills to leading the Company.”

Johnson added, “I couldn’t be more proud of the incredible strides our employees and distributors have made to advance our mission to change lives and communities around the world. John has been a critical contributor to these efforts over the last several years and as we’ve worked together to prepare to transition the leadership of our Company, it’s become clear he is ready to assume both the CEO and Chairman roles now. With John at the helm of the Company and the Board, I know that our mission will endure, and expect that Herbalife Nutrition will continue to grow.”

Agwunobi added, “Michael’s tenure with Herbalife Nutrition has been nothing short of extraordinary, leading overall net sales growth from $1.2 billion in 2003 to $4.9 billion in 2019. We are all grateful for his dedication to the Company, our people and our mission, and we know that he will always be part of the Herbalife Nutrition family. Looking to the future, I am energized by knowing that each day we are meeting a growing need for millions of people around the globe who want to improve their nutrition and wellness. We plan on expanding our reach by working with our distributors and providing them with further opportunities to grow their business and serve even more customers.”

 

Herbalife Sales Up 2.8% in Q4 2019: Full-Year Results Flat

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Herbalife Nutrition Ltd. (NYSE: HLF) reported financial results for the fourth quarter and full year ended December 31, 2019

Fourth quarter reported net sales of $1.2 billion increased 2.8 percent compared to the prior year period. Regionally, net sales for the fourth quarter of 2019 were:

  • Asia Pacific: net sales of $330.4 million, an increase of 17.8% from 2018
  • EMEA: net sales of $241.1, an increase of 3.5% from 2018
  • North America: net sales of $233.6, an increase of 8.9% from 2018
  • Mexico: net sales of $116.6, an increase of 1.8% from 2018
  • China: net sales of $205.9, a decrease of 15.0% from 2018
  • South & Central America: net sales of $92.7, a decrease of 9.1% from 2018

Reported net sales of $4.9 billion for the full year 2019 were relatively flat compared to full year 2018.

“As I close out my tenure as chairman and CEO and prepare to hand off both of these positions to John Agwunobi, I want to express my sincere gratitude to our distributors and employees who have worked so hard to advance our mission to change lives and communities around the world,” said Michael Johnson, chairman and CEO of Herbalife Nutrition. “It has been an honor to serve and see the growth of this great company over the last 17 years. This growth and momentum continued in 2019 resulting in record volume points for the full year; and in the fourth quarter, nine of our top ten countries achieved net sales growth.”

To read the complete Herbalife Q4 and full-year 2019 report, click here.

Herbalife Sales Up 2.8% in Q4 2019: Full-Year Results Flat

by Leave a Comment

Herbalife Nutrition Ltd. (NYSE: HLF) reported financial results for the fourth quarter and full year ended December 31, 2019

Fourth quarter reported net sales of $1.2 billion increased 2.8 percent compared to the prior year period. Regionally, net sales for the fourth quarter of 2019 were:

  • Asia Pacific: net sales of $330.4 million, an increase of 17.8% from 2018
  • EMEA: net sales of $241.1, an increase of 3.5% from 2018
  • North America: net sales of $233.6, an increase of 8.9% from 2018
  • Mexico: net sales of $116.6, an increase of 1.8% from 2018
  • China: net sales of $205.9, a decrease of 15.0% from 2018
  • South & Central America: net sales of $92.7, a decrease of 9.1% from 2018

Reported net sales of $4.9 billion for the full year 2019 were relatively flat compared to full year 2018.

“As I close out my tenure as chairman and CEO and prepare to hand off both of these positions to John Agwunobi, I want to express my sincere gratitude to our distributors and employees who have worked so hard to advance our mission to change lives and communities around the world,” said Michael Johnson, chairman and CEO of Herbalife Nutrition. “It has been an honor to serve and see the growth of this great company over the last 17 years. This growth and momentum continued in 2019 resulting in record volume points for the full year; and in the fourth quarter, nine of our top ten countries achieved net sales growth.”

To read the complete Herbalife Q4 and full-year 2019 report, click here.

Plexus Names Ryan Anderson Chief Sales Officer

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Plexus Worldwide announced that Ryan Anderson is joining its executive leadership team as chief sales officer (CSO).

As CSO, Anderson will lead business development efforts and sales growth within existing markets including the USA, Canada and Australia, as well as work in new international markets as the company expands its global presence into Mexico in 2020.

“We look forward to Ryan’s new perspective on domestic and global growth as Plexus continues to grow,” said Tarl Robinson, CEO and founder of Plexus. “His passion for direct sales aligns with our One Plexus spirit and legacy mind-set.”

Anderson is an industry veteran with more than 18 years of experience in direct sales, including positions of chief executive officer, chief sales officer, executive vice president of Global Sales and vice president of Sales.

“Health is so important to me and I enjoy the challenges of growing a sales team across international markets, which made this position with Plexus the perfect fit for me,” said Anderson. “It’s been a great start as I have been able to use my experience in the direct sales industry to provide direction to accelerate Plexus’s rapid growth.”

Plexus Names Ryan Anderson Chief Sales Officer

by Leave a Comment

Plexus Worldwide announced that Ryan Anderson is joining its executive leadership team as chief sales officer (CSO).

As CSO, Anderson will lead business development efforts and sales growth within existing markets including the USA, Canada and Australia, as well as work in new international markets as the company expands its global presence into Mexico in 2020.

“We look forward to Ryan’s new perspective on domestic and global growth as Plexus continues to grow,” said Tarl Robinson, CEO and founder of Plexus. “His passion for direct sales aligns with our One Plexus spirit and legacy mind-set.”

Anderson is an industry veteran with more than 18 years of experience in direct sales, including positions of chief executive officer, chief sales officer, executive vice president of Global Sales and vice president of Sales.

“Health is so important to me and I enjoy the challenges of growing a sales team across international markets, which made this position with Plexus the perfect fit for me,” said Anderson. “It’s been a great start as I have been able to use my experience in the direct sales industry to provide direction to accelerate Plexus’s rapid growth.”

Consumer Preferences and Retail Challenges For 2020

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RetailMeNot released the 2020 Retailer Playbook, a comprehensive guide into consumer preferences and retail marketers’ strategies for the new decade.

Consumer confidence reached historic high levels in 2019, alongside rising expectations from shoppers. From shipping and rewards programs to politics and sustainability, here are the top expectations and retailer challenges for 2020:

  1. Politics will impact retailer strategies, but consumers don’t care as much as retailers expect.
  2. Consumers would rather get free shipping over expedited shipping, putting more pressure on retailers to offer competitive shipping deals.
  3. Shoppers prefer the lowest shipping cost over an eco-friendly shipping option.
  4. To avoid paying for shipping, most consumers would go in-store to purchase an item.
  5. Consumers expect retailers to provide expedited shipping options during the holiday season, resulting in less pressure to shop early
  6. White-glove concierge service is a “nice to have” — for now.
  7. Retailers are peeling back their investments in mobile and social advertising.
  8. Credit card rewards are undercutting retail loyalty programs.
  9. Few consumers have signed up for subscription services, despite early adoption by millennials.
  10. Amazon Prime Day may be the new Black Friday, with consumers saying they found better deals in July 2019 than on the historic shopping day in November.

“Our 2020 trends show the continued changing preferences of consumers and the power they still hold over retailers,” said Sara Skirboll, shopping and trends expert at RetailMeNot. “For example, RetailMeNot found at the beginning of 2019 that retailers were bullish about voice-assisted shopping but as the year unfolded, only 16 percent of consumers reported ever buying a product via their smart home speakers. As a result, only 38 percent of retailers plan to implement a voice-assisted shopping strategy this year.”

Taking a Stand to Stand Out

In response to the election year, more retailers are taking a stand on political or social issues. In fact, an overwhelming majority (90%) of retailers are overlooking the old taboo of remaining politically agnostic and will make some changes to how they market this year. This includes:

  • Being more willing (48%) to take a public stand on social values in 2020
  • Being more conscious (56%) of any political connections that can be made to what they post on social channels
  • Designing marketing materials (44%) to tie the election into what they are selling
  • Having a sale (43%) related to Election Day
  • Looking back at 2016 shopping trends (44%) to inform their strategies accordingly.

Even so, only 40 percent of Americans say the election will impact the brands they shop.

Shipping Wars

While an election alone may not be enough to derail consumer spending, there’s another issue that might: shipping and the environment. Based on RetailMeNot research, just over half (51%) of Americans are willing to wait longer for eco-friendly shipping options from retailers like Amazon. But once cost becomes a factor, 70 percent prefer the lowest price over environmental impact.

Regardless, 81 percent of Americans expect retailers to offer more expedited shipping options during the holidays in 2020. Exacerbating the situation, 44 percent of consumers admit they will shop later in the holiday season in 2020 because they know they can receive items faster. Procrastinators will pose a major challenge for many brands as 63 percent of retailers struggle to keep up with shipping deals offered by their competitors.

Consumer Preferences and Retail Challenges For 2020

by Leave a Comment

RetailMeNot released the 2020 Retailer Playbook, a comprehensive guide into consumer preferences and retail marketers’ strategies for the new decade.

Consumer confidence reached historic high levels in 2019, alongside rising expectations from shoppers. From shipping and rewards programs to politics and sustainability, here are the top expectations and retailer challenges for 2020:

  1. Politics will impact retailer strategies, but consumers don’t care as much as retailers expect.
  2. Consumers would rather get free shipping over expedited shipping, putting more pressure on retailers to offer competitive shipping deals.
  3. Shoppers prefer the lowest shipping cost over an eco-friendly shipping option.
  4. To avoid paying for shipping, most consumers would go in-store to purchase an item.
  5. Consumers expect retailers to provide expedited shipping options during the holiday season, resulting in less pressure to shop early
  6. White-glove concierge service is a “nice to have” — for now.
  7. Retailers are peeling back their investments in mobile and social advertising.
  8. Credit card rewards are undercutting retail loyalty programs.
  9. Few consumers have signed up for subscription services, despite early adoption by millennials.
  10. Amazon Prime Day may be the new Black Friday, with consumers saying they found better deals in July 2019 than on the historic shopping day in November.

“Our 2020 trends show the continued changing preferences of consumers and the power they still hold over retailers,” said Sara Skirboll, shopping and trends expert at RetailMeNot. “For example, RetailMeNot found at the beginning of 2019 that retailers were bullish about voice-assisted shopping but as the year unfolded, only 16 percent of consumers reported ever buying a product via their smart home speakers. As a result, only 38 percent of retailers plan to implement a voice-assisted shopping strategy this year.”

Taking a Stand to Stand Out

In response to the election year, more retailers are taking a stand on political or social issues. In fact, an overwhelming majority (90%) of retailers are overlooking the old taboo of remaining politically agnostic and will make some changes to how they market this year. This includes:

  • Being more willing (48%) to take a public stand on social values in 2020
  • Being more conscious (56%) of any political connections that can be made to what they post on social channels
  • Designing marketing materials (44%) to tie the election into what they are selling
  • Having a sale (43%) related to Election Day
  • Looking back at 2016 shopping trends (44%) to inform their strategies accordingly.

Even so, only 40 percent of Americans say the election will impact the brands they shop.

Shipping Wars

While an election alone may not be enough to derail consumer spending, there’s another issue that might: shipping and the environment. Based on RetailMeNot research, just over half (51%) of Americans are willing to wait longer for eco-friendly shipping options from retailers like Amazon. But once cost becomes a factor, 70 percent prefer the lowest price over environmental impact.

Regardless, 81 percent of Americans expect retailers to offer more expedited shipping options during the holidays in 2020. Exacerbating the situation, 44 percent of consumers admit they will shop later in the holiday season in 2020 because they know they can receive items faster. Procrastinators will pose a major challenge for many brands as 63 percent of retailers struggle to keep up with shipping deals offered by their competitors.