China’s appetite for domestic e-commerce and cross border e-commerce coupled with stringent regulations on direct sales companies have forced many direct sales companies to change up their usual marketing and sales strategies. Below is an excerpt from Herbalife’s Q1 2021 Earnings Call.
“In China, net sales declined 11% compared to the first quarter of 2020. This decline for the quarter is in line with our expectations, as our sales force continues to transition through the recent enhancement made to our China marketing plan. We had discussed that at our last quarter’s call. We continue to make progress on our digital transformation in China, and anticipate our new middleware platform being developed with Alibaba will be deployed in the second quarter of this year.” (Source: Herbalife Q1 2021 Earnings Call – The Motley Fool)
For the full transcript, click HERE