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November 25, 2003
Seventeen Percent!
By QBlog in
17 in 100 Adults in Korea Involved in Multi-Level Marketing. That's the headline from the KoreaTimes this morning. Amazing. 17% of folks in Korea are involved in MLM. And the article goes on to report (much to the horror or Amway folks I'm sure) that "Amway Korea, South Korea's largest pyramid company affiliated with Amway of the United States, accounted for 30.8 percent of the total sales and 20 percent of the sales staff."
Just wait till they get Quixtar over there!
Comments
From the article: "Amway Korea, South Korea's largest pyramid company affiliated with Amway of the United States, accounted for 30.8 percent of the total sales and 20 percent of the sales staff. About 1.18 million people were working for Amway Korea, which earned 1.17 trillion won sales last year."
I did some math on this one, and came up with an average of equivalently $822.50 of sales for each of the the 1.18 million sales people.
The article also states: "This means that in 2002 a salesperson working for a multi-level marketing firm received an average of 584,000 won in bonus payments."
The 584,000 won mentioned as bonus payments works out to $484.45. It should be clarified that that average is spread across all all MLMs.
This is using today's exchange rate.
I have no idea how much $822, or $484.45 will buy in South Korea. There's also a lot of variables in this number (e.g., how many of those were active IBOs, how many were only active for part of the year).
I just thought I'd throw these numbers out and see if this is equivalent to people's experiences in the US.
Oh the horror! I'll never sleep, ever!
Posted by: Dwighty | November 25, 2003 9:07 AM