As global economic development continues to slow, Africa's unemployment rate is rising by the day. In addition, the rate of inflation has continued to rise above forecasted levels. Ghana's official inflation rate has risen to around 16 percent (www.statista.com), with unofficial rates ranging from 20 percent to 50 percent on various commodities, products, and services.
People have been put in a lot of financial difficulties as a result of this, as their sources of income and salaries have remained virtually constant in the face of increased living costs.
Fuel and food costs are fast rising, according to the International Monetary Fund's World Economic Outlook 2022, with the most vulnerable populations in low-income nations in Africa bearing the brunt of the impact. Global growth is expected to decline from its current rate of 3%.
People are getting concerned about their economic security for these and other reasons, and they are seeking for ways to increase their discretionary income. Over the years, Direct Selling has shown to assist many people in generating new sources of income, therefore bolstering their defenses against poverty.
Before digital businesses popularized flexible job alternatives in recent years, the direct selling company was the first gig economy business. Many firms utilize the direct selling business model to market distinctive products and services in sectors including health and nutrition, personal and cosmetic care, and home care items, among others.
When consumers sign up as distributors of such items, direct selling provides them with a terrific platform to become micro-entrepreneurs and create a sales company pushing such products.
The continuous rise of the direct selling business is unsurprising. In the past, this industry has always seen growth amid economic downturns.
During difficult economic times, individuals are increasingly conscious of the need to diversify their income sources, and for those wishing to start a business, direct selling offers an appealing option to do so without a large investment or the headaches of operational and logistics.
Companies that provide health and wellness goods, like as QNET, saw a huge spike in sales as a result of the pandemic's increased awareness and personal health concerns. In 2020, the global wellness industry was estimated to be worth $4.37 trillion US dollars.
By 2025, this amount is expected to reach about $7 trillion (https://www.statista.com/statistics/491362/health-wellness-market-value/). This pattern is expected to continue for several years.
QNET has recently expanded its product offering. Many people have been given the option to embark on an entrepreneurial journey that might transform their financial fortunes for the better as a result of this.
Though there are some misconceptions about the direct selling industry in general, QNET is working hard to dispel them by providing more information about how the industry works, providing entrepreneurial opportunities, offering multiple ways to earn, and displaying transparency in all business operations.