Boston, MA -- (SBWIRE) -- 06/20/2014 -- In 2013, sales in the direct selling channel increased at a slower pace compared to the prior year. The reasons for the relatively soft performance of the channel in 2013were the stagnating economy and the worsening political crisis. This combination depressed general consumer confidence and made households severely limit spending on products traditionally strong in the channel, such as cosmetics.
Avon and Oriflame are the two leading brands in the direct selling channel. In 2013, Avon Bulgaria EOOD, a wholly owned subsidiary of Avon International Operations Inc, registered sales of BNG43 million, down 3% in current terms on the previous year. As a result, the brand maintained its leading position but its share narrowed by two percentage points to 30%.Between August 2012 and July 2013, the top management of Avon Bulgaria was changed and three new managing directors were appointed. The management changes may be interpreted as an attempt to provide impetus for new growth. Results in 2013, however, were negatively affected as the new management team needs time to re-energise the company.
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The direct selling channel is expected to register a CAGR of 4% at constant 2013 prices over the forecast period. The projection contrasts with the performance over the review period, when the channel registered a negative CAGR of 1% at constant 2013 prices. Projections of future growth are based on expectations for a recovery in the overall economic environment in the country, gradual improvement in the labour market and restored consumer confidence. Key to the above will be early elections in 2014 and the formation of a stable government with strong parliamentary and public support.
Discover the latest market trends and uncover sources of future market growth for the Direct Selling industry in Bulgaria with research from Euromonitor's team of in-country analysts.
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The Direct Selling in Bulgaria market research report includes:
- Analysis of key supply-side and demand trends
- Detailed market shares for international and locally-based retailers
- Historic values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- Who are the leading retailers in Bulgaria?
- How important is direct selling in Bulgaria?
- How is the direct selling channel being affected by the growth of internet retailing?
- What strategies are direct sellers employing to compete in a multi-channel environment?
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