- A new report projects that the global direct-selling establishments market size will grow from $688.45 billion in 2022 to $763.85 billion in 2023
- SHRG is focused on positioning itself to take advantage of projected growth
- The company has developed opportunities in several spaces, including the health and wellness, travel, and restaurant sectors
In a market forecast to see almost $80 billion growth (https://ibn.fm/7ZJfu), Sharing Services Global (OTCQB: SHRG) is working to offer a variety of options for its brand partners, subscribers and independent sales force. SHRG operates in the direct-selling space, where it is dedicated to developing or acquiring businesses, products and technologies that augment its product and services portfolio and create opportunities for those involved with the company.
“The global direct-selling establishments market size will grow from $688.45 billion in 2022 to $763.85 billion in 2023 at a compound annual growth rate (‘CAGR’) of 11%,” reported the Business Research Company. “The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short-term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global direct-selling establishment’s market size is expected to grow to $1,125.52 billion in 2027 at a CAGR of 10.2%.”
SHRG is focused on positioning itself to take advantage of the growth the sector is projected to experience. The company has developed opportunities in several spaces, including the health and wellness, travel, and restaurant sectors (https://ibn.fm/ExU5C).
As a wholly owned SHRG subsidiary, the Happy Co. operates in the health and wellness industry. The company’s products are marketed primarily through an independent sales force following a direct-selling business model. Currently, the Happy Co. markets and distributes its products in the United States. In addition, the company sells its health and wellness products on a “not-for-resale” basis to consumers in countries outside the U.S.
My Travel Ventures is also a wholly owned subsidiary. As a subscription-based company, My Travel Ventures delivers subscription-based travel services designed to offer the deepest discounts for travel related to airfare, cruises, hotels, resorts, time shares and rental cars. The services are geared for destinations throughout the world and for people of all ages, demographics and economic backgrounds. My Travel Ventures also provides entrepreneurial opportunities to its subscribers by capitalizing on both the direct-selling model and the retail travel business model.
Finally, Sharing Services has entered into an agreement to acquire the exclusive franchise rights in North America to the Hapi Café(TM) brand from Hapi Café Inc. Under the agreement, SHRG will operate directly or through its subsidiaries at least five corporate-owned stores and will also offer licensing rights for others to operate. Each corporate-owned or licensed Hapi Café location will provide customers and brand partners seeking a healthier lifestyle access to functional, healthy food and beverages, a pleasant workspace with free WiFi service, physical fitness, nutrition management, personal workout video content and My Travel Ventures services.
Sharing Services is a publicly traded diversified company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. In addition to its interest in the opportunities mentioned above, the company currently has a controlling interest in MojiLife, which offers a flagship product to scent homes and vehicles that features innovative technology and design (https://ibn.fm/gw2Ko).
For more information, visit the company’s websites at www.SHRGInc.com, www.MyTravelventures.com and www.TheHappyCo.com.
NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG
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