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Amway says E-commerce to contribute half of sales in future

Amway says E-commerce to contribute half of sales in future
Amway says E-commerce to contribute half of sales in future

#Amway #TamilNadu #Sales #DirectSelling #MLM

NEW DELHI: Direct selling company Amway, which is aiming Rs 6,000 crore turnover by 2020, today said it expects its e-commerce platform to contribute half of its sales in the future.

The US-based company, however, expects a flat growth in sales this year in India at Rs 2,100 crore. E-tailing accounts for 35 per cent of this.

We see e-commerce as a great opportunity for the sector. 35 per cent of my revenue is through e-commerce. We have embraced it… We see e-commerce as our future, Amway Managing Director & CEO William S Pinckney told PTI.

The company is expecting the revenue traction from its B2B (Business-to-Business) e-commerce platform (between Amway and its distributors) to go up.

“I do not know where we would settle. I think it could be 50:50 or 60:40. We would not be worried if e-commerce is 70 per cent,” he said.

He added that the growing share of its e-tailing business would not affect its distributor network.”It would increase but we have our physical presence at 142 offices that will not decrease. As our business grows, we see e-commerce taking a greater share of that… There would be always be a consumer who will say that I do not want to go online,” he added.

It would be a hi-tech business with hi-touch, he said. Pinckney said:” This year the company has a flat growth rate, we would have the same turnover of Rs 2,100 crore”.He, however, added: “We have a goal of Rs 6,000 crore (turnover) by 2020.” The company would complete its Rs 600 crore Tamil Nadu project by March next year.

– Economic Times

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