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| 文件名: 贝尔斯登--全球化妆品直销行业研究报告.pdf | |
| 资料下载链接地址: https://bbs.pinggu.org/a-1054415.html | |
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Cosmetics, Household &
Personal Products Direct Selling in China If Regulations Ease, Opportunity Expands A Local Perspective 􀂄 COMPREHENSIVE, VALUE-ADDED LOOK AT THE CHINESE DIRECT SELLING INDUSTRY. Since China is many global direct sellers’ most important growth market, this well-timed report examines the industry’s history, evolution, and outlook in that nation. We believe the perspective afforded by one of our team members, a Chinese citizen with years of consumer products experience in that country, adds value to our research of this topic ─ which, in any event, is based on in-market conversations and thus is entirely proprietary. 􀂄 EXPECT $30 BILLION DIRECT SALES MARKET IN CHINA WITHIN FIVE YEARS. That estimate, which assumes the industry grows in the low double digits through 2012, may in fact be conservative, given the fast-rising Chinese economy and recent positive changes in direct selling regulation. Even at $30 billion, we envision room for outstanding growth for the major industry players ─ for instance, Avon (rated Peer Perform), which is off to a flying start in China, could have a $750 million market in that nation in five years. 􀂄 WILL THE NEW REGULATIONS BE ENFORCED? The industry’s future will depend on whether the Chinese government strictly enforces its regulation. If it does, Avon should benefit significantly. However, we expect more flexible enforcement as the industry evolves, which ─ since only a single-level compensation scheme is currently allowed in China ─ could be a major advantage for companies that have adopted a multi-level compensation business model. 为大家做贡献。[hide][/hide] |
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