SSN eager to support growth and transformation of the channel through informed analysis of important issues
A year ago this week, our country and our business channel were coming to grips with the reality of a nationwide shutdown and the gradual realization of the immense challenges that lay ahead—challenges confronting every level of our existence, from very personal distress to the greater societal difficulties materializing around us.
On a larger scale, the problems faced by individual companies coalesced into industry-wide disruptions for virtually every type of business across the world.
Direct sellers met this chaos head-on and persevered, arguably, better than most. Now, as the country gradually opens up again, the businesses of this sector return their full attention to the host of other challenges that lie ahead.
If this issue of SSN has a common theme, it is these unrelenting challenges that face our channel and the ingenuity and flexibility born from them, as you will read about in our second feature, as well as in Quick Takes.
In our cover story, we chronicle the journey of startup energy direct seller Griddy and the turmoil that can result when mother nature and wholesale pricing collide.
In our first feature, we detail the successes reported by several publicly-held direct sellers in their recent earnings calls.
I also encourage you to check out Risk Roundup, where the DSA’s Brian Bennett explains the PRO Act, and the threats this legislation poses to the channel.
Finally, I invite you to read our Special Report for a deep dive into one of the greatest challenges currently facing direct sellers: the self-described “anti-MLM” movement.
The past several months have seen a spike in media attention on this disparate but single-minded group, and we were eager to investigate further their habits on social media platforms, their success at engaging followers, and their weapons of choice for attacking network marketing.
American inventor, engineer and businessman Charles Kettering once said, “A problem well stated is a problem half solved.”
By confronting this year’s diverse set of challenges directly and with clarity, I know that direct sellers will continue to strengthen their business models and discover new paths to success, and I hope that SSN can be a resource toward that end.
I thank you for your support of the paper and our mission to inform and educate.
PEOPLE ON THE MOVE – March
Ryan Napierski, Nu Skin
Nu Skin Enterprises has named Ryan Napierski as president and CEO. Napierski, who currently serves as the company’s president, will succeed Ritch Wood upon his retirement Sept. 1. Napierski also will presumably replace Wood on the board of directors later this year. Napierski has spent his 25-year career with Nu Skin.
Griddy, the Texas-based electricity provider offering customers access to fluctuating wholesale pricing through a direct selling model, recommended to their customers that they are better off in the near term using a different provider. The recent winter storm that paralyzed the southern U.S. resulted in spot electricity pricing as high as $9,000 per megawatt-hour. Many Griddy customers reported monthly bills over 10 times the usual amount. These increased charges are pass-through, meaning Griddy only keeps a $9.99 per month membership fee.