Vestige Marketing is focusing on digitalization and will continue to utilize technology to fuel its growth, according to a top business executive, with the coronavirus epidemic severely testing the direct selling sector and changing the nature of commerce.
With more individuals losing employment due to COVID-19 turning to direct selling as an alternative source of income, the indigenous direct selling business is aiming to leverage onto a surge in distributors from tier II and tier III cities.
“The epidemic has put the direct selling business to the test. The necessity to maintain continual social distance, the constant fear of infection, and, of course, lockdowns, have all had a big influence on the industry’s business dynamics “Gautam Bali, Managing Director of Vestige Marketing Pvt Ltd, said PTI.
He stated that the previous meet-and-greet strategy of recommendations, meeting clients, exhibiting, and showing business-critical items has migrated online.
“This is expected to continue in the post-pandemic future, as buying electronically is the simplest, most time-efficient, and productive approach. It has opened up new sales channels and significantly increased seller earnings “Bali expressed his thoughts.
He stated when asked how the firm aims to capitalize on the shift in trend, “Through digitalization, Vestige will continue to utilize technology and innovation to serve consumers and communities in a changing environment. These techniques aided a 300 percent increase in internet orders.”
He said that even during the height of the epidemic, “Vestige’s distributor network grew by more than 52% in 2020, with more than 60% of them being under the age of 35. Distributors from tier II and tier III cities were the driving force behind this growth.”
Bali stated the organization presently has “48 branches, with over 3,500 online and offline centers” and over 600 workers, however, he did not divulge the exact number of distributors due to commercial secrecy.
In response to the epidemic, Bali explained how direct selling has grown in smaller cities and towns “In both the formal and informal sectors, the country experienced unemployment, wage cutbacks, and job relocation. Add in the reversal of millions of migratory workers returning to their home states, as well as the influx of fresh talent that enters the market every year.”
“All of this led to the direct selling industry being perceived as an alternative source of livelihood for millions of people who lost their jobs, creating an opportunity for people to regain lost financial independence and emerge as a viable alternative career prospect, especially in tier II and III markets,” he continued.
Heading 2: Vestige, a direct selling firm, is putting a strong emphasis on digitization to expand.