ADA, MICH., USA (Feb. 8, 2017) – Amway today announced sales of $8.8 billion USD for the year ending Dec. 31, 2016, a decline of 7 percent when compared to 2015 figures. The direct seller increased sales in seven of its top 10 markets, but experienced softening market conditions in China.
“Across the world, Amway did well in 2016,” said Amway Chairman Steve Van Andel. “We experienced sales growth in several top markets, saw double-digit percentage growth in nine additional markets, and continued to evolve the business in China as we seek to take advantage of shifting market conditions and achieve the market’s long-term growth potential.
- See more at: http://globalnews.amway.com/pressroom/news-release/news/amway-announces-2016-sales#sthash.4g213ipz.dpuf
I find it interesting how Amway spins a 7% decline into a positive. Amway sales were at 11.8 billion in 2013. The Amway defenders were shouting from the rooftops that this was proof that Amway had arrived and they were going to "explode". Well, Always sales in 2014 was 10.8 billion. Their sales totaled 9.5 billion in 2015, a 12% decline, and now 8.8 billion, another 7% decline.
I honestly don't know exactly what to attribute the big decline to. It could be that Amway is reaching market saturation and because information is easily accessible, people are finding relevant information and making wise decisions.
In any case, it will be interesting to see what happens in the next few years. With less sales, I would assume that there are ewer big pins and less tool money for the diamonds. I had heard that some functions were moving to smaller venues which could mean that tools income could be shrinking and maybe diamonds are not rolling in cash anymore. Anyway, stay tuned. Time will tell.
11 comments:
I find it interesting that you didn't mention that North America Sales were up 10% in 2016 over 2015 . . . . . . but then again, why would you? No one who ever made it in that business blogs about it. Only whiners and complainers who lost at a multi-level marketing business blog about it. You should quit wasting time and go WIN at something instead of whining and complaining.
Joe, the collapse is due to the shrinkage of members in North America and India, where English is spoken widely. Your website, and Anna's and Dr. Doe's and many others too numerous to list, have gotten the real truth about the Amway fraud out onto the Internet.
It's only a matter of time before Spanish and Chinese websites that are anti-Amway begin to develop. Then the Amway sales figures will really go down the toilet.
""I find it interesting that you didn't mention that North America Sales were up 10% in 2016 over 2015""
Since Amway reports global sales and not by individual markets, I'd say you're making that up.
Of course you're welcome to provide a link.
Based on the last three years, Amway's been suffering a bit of turbulence.
What is the source of that 10%? I am not criticising, I just want to know and disseminate the truth for myself. It is not in the press release under discussion. A also googled to try and find Amway sales growth figures but could not find anything. Please help.
Yup, it's made up. The way A states it "I find it interesting.." seems intented to make the casual reader assume it's in the press release! Quite horrible actually.
Nowhere did it say Amway sales in north America was up 10%. Amway doesn't release sales by individual markets. They only release global sales, which was down 8.8%.
Btw. this is very interesting: https://www.businessforhome.org/2017/02/why-amway-lost-3-billion-in-sales-in-3-year/
And look down on comment by former diamond Lance Smith. Some deep and concerning insight, like if you are a diamond and want to leave the company, Amway legal department goes after you... What? Best business in the world? :-)
Amway North America is going down the tubes. That's why Amway won't release the specific figures for North American sales. The figures would be too depressing. It's becoming nearly impossible to retain IBOs, or recruit new ones who will stay.
This is also why there has been a recent spike in furiously angry comments here at this blog and other anti-Amway or anti-MLM websites from Amway freaks. They know they are in trouble, and they are lashing out.
Amway types are forbidden to read these blogs, but naturally they do.
Isn't it amazing how fiercely the Amway IBOs defend Amway when in fact most of them are bleeding money month after month and not turning a net profit. A study into the psychology of Amway would likely be fascinating.
Yes, that comment by former Diamond Lance Smith was very revealing. If you are a bigshot in Amway and you want to quit to go off on your own, Amway's legal department will go after you ferociously. According to Lance Smith, the collapse of Amway's revenue would be much worse than reported if their legal department didn't threaten action against Diamonds who want to leave.
Actually it would be interesting to read the financials in detail before commenting anything. We could have lower sales but higher profit also. Lower revenue with higher sales could mean lower prices. There is also the depreciation of the new factory in India.
But yes Saturation is the biggest danger for them. They need to reinvent their strategy and focus on product selling and not making blind defenders of faith. They need to shift focus from people oriented to product oriented.
It will be nice if someone can catch hold of their financials. Will be an interesting read.
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