Recently, several offshore direct-selling companies have disclosed their revenues.
In the fiscal year 2022, Herbalife gained net sales of RMB 2.7 billion yuan (USD $391 million) in China, down 37.9% year-on-year.
Nu Skin gained net sales of RMB 2.5 billion yuan (USD $360 million) in China, down 37% year-over-year, which was the largest decline among all markets.
USANA Health Sciences gained net sales of RMB 820 million yuan (USD $118 million) in China, down 6% year-over-year.
Due to the COVID pandemic and policy adjustments, China showed plummeting performance in the past two years. However, in 2023, China will welcome its strong rebound in the nutrition and health industry. (Source: shuzhengkangxun)
HPA-China Commentary:
With the above in mind, this downward trend seems unique to direct sales companies. Cross-border e-commerce slowed as well, but still was showing 10%+ growth in 2022 vs. 2021.
Visit HPA-China’s Information Hub, CLICK HERE