Retailing
Retailing

Retailing in Taiwan

Taiwan

Euromonitor International's Retailing in Taiwan report offers insight into key trends and developments affecting the industry. The report examines all retail channels to provide sector insight. Channels include department stores, food retailers, health and beauty retailers, clothing and footwear retailers, home furniture and household goods retailers, durable goods retailers, and leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of alternative selling channels (kiosks, homeshopping, internet retailing, service stations, vending and direct selling, as available).

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Tables: 197  |  Publication date: Apr 2008
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Product coverage

Non-store retailing; Store-based retailing

Executive summary

A depressed economy limits the growth of retailing

Although there was a slight recovery in credit card debt in 2007, economic depression and high unemployment have continued to affect the growth of retailing in Taiwan. The unemployment rate from January to August 2007 reached the highest point in the 2000-2007 period. The rate of salary growth was much lower than the inflation rate and this has increased the number of low-income consumers. Consumers became more price conscious because of the slump in the economy. Moreover, the political instability in 2006 and 2007 worsened the economic situation and in turn, retailing.

Growth of internet retailing results in more internet retailers

Since internet retailing has been growing healthily, many store-based retailers have established online shopping websites to drive up sales. These online stores offer convenience and enable consumers to shop round the clock. As Taiwanese consumers became more confident and comfortable with online shopping, store-based retailers used internet shopping as an alternative to increase sales. The increasing rentals for bricks and mortar outlets have discouraged store-based retailers from expanding. Internet retailing offers lower operational costs and the comparatively lower prices and online promotions attract shoppers.

Convenience stores retailers are among the top ten retailers

With their fast expansion and the high reliance from consumers, convenience stores enjoyed good growth and fast expansion. Three major convenience store operators, 7-Eleven, Family Mart and Hi-Life, ranked among the top 10 retailers in 2007. 7-Eleven was the leading retail brand overall, with the most convenience stores and through strong marketing. Both 7-Eleven and Hi-Life are local players with strong parent companies. 7-Eleven is under the control of President Chain Store, while Hi-Life is under Kuang Chuan Dairy. With extensive local knowledge, 7-Eleven continues to provide a value-added service and carries out marketing activities to attract consumers. 7-Eleven dominates convenience stores and is the pioneer in launching new services and products.

Non-store retailing posts significant growth

In contrast to store-based retailing, non-store retailing continued to enjoy strong growth of 7% in 2007, which is slightly down on the compound annual growth rate (CAGR) of 9% for the 2002-2007 period. Internet retailing and homeshopping made a significant contribution to the growth of non-store retailing. Internet retailing sales increased especially after collaboration with convenience stores, which allows consumers to pay and pick up the products they have ordered online. The high potential of internet retailing and low entry barriers have attracted store-based retailers to offer internet shopping. TV homeshopping also posted strong growth thanks to its lively product demonstrations and wide range of products. The claimed lower prices attract the older age group and housewives who watch the television for long periods.

Slow growth for overall retailing

Retailing is expected to experience slow growth over the forecast period due to income polarisation and an unstable political environment, pending the presidential election in 2008. The polarised consumption pattern will continue with consumers at either the premium or low end of the market, which will slow the growth of retailing. The non-store retailers are forecast healthy growth because of the convenience and competitive prices over the internet.

Table of contents

RETAILING IN TAIWAN : MARKET INSIGHT

EXECUTIVE SUMMARY

A depressed economy limits the growth of retailing

Growth of internet retailing results in more internet retailers

Convenience stores retailers are among the top ten retailers

Non-store retailing posts significant growth

Slow growth for overall retailing

KEY TRENDS AND DEVELOPMENTS

Store-based retailers establish internet shopping

Collaboration between store-based and non-store retailers

Non-store retailers enter store-based retailing

Growth of private label

Premiumisation

MARKET INDICATORS

Table 1 Employment in Retailing 2002-2007

MARKET DATA

Table 2 Sales in Retailing by Sector: Value 2002-2007

Table 3 Sales in Retailing by Sector: % Value Growth 2002-2007

Table 4 Sales in Retailing by Grocery vs Non-Grocery 2005-2007

Table 5 Sales in Store-Based Retailing by Sector: Value 2002-2007

Table 6 Sales in Store-Based Retailing by Sector: % Value Growth 2002-2007

Table 7 Sales in Non-store Retailing by Sector: Value 2002-2007

Table 8 Sales in Non-store Retailing by Sector: % Value Growth 2002-2007

Table 9 Retailing Company Shares: % Value 2004-2007

Table 10 Grocery Retailers Company Shares: % Value 2004-2007

Table 11 Grocery Retailers Brand Shares: % Value 2004-2007

Table 12 Non-Grocery Retailers Company Shares: % Value 2004-2007

Table 13 Non-Grocery Retailers Brand Shares: % Value 2004-2007

Table 14 Non-store Retailing Company Shares: % Value 2004-2007

Table 15 Non-store Retailing Brand Shares: % Value 2004-2007

Table 16 Forecast Sales in Retailing by Sector: Value 2007-2012

Table 17 Forecast Sales in Retailing by Sector: % Value Growth 2007-2012

Table 18 Forecast Sales in Store-Based Retailing by Sector: Value 2007-2012

Table 19 Forecast Sales in Store-Based Retailing by Sector: % Value Growth 2007-2012

Table 20 Forecast Sales in Non-store Retailing by Sector: Value 2007-2012

Table 21 Forecast Sales in Non-store Retailing by Sector: % Value Growth 2007-2012

APPENDIX

Operating environment

Cash-and-Carry/Warehouse Clubs

DEFINITIONS

Source

Summary 1 Research Sources

LOCAL COMPANY PROFILES - TAIWAN

CHYUAN LIEN ENTERPRISE CO LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 2 Chyuan Lien Enterprise Co Ltd: Key Facts

Summary 3 Chyuan Lien Enterprise Co Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

COMPETITIVE POSITIONING

Summary 4 Chyuan Lien Enterprise Co Ltd: Competitive Position 2007

DAIRY FARM INTERNATIONAL HOLDINGS LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 5 Wellcome Supermarket: Key Facts

Summary 6 Ikea Taiwan: Key Facts

Summary 7 Wellcome Supermarket: Operational Indicators

Summary 8 Ikea Taiwan: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 9 Wellcome Supermarket: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 10 Dairy Farm International Holdings Limited: Competitive Position 2007

EASTERN HOME SHOPPING NETWORK - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 11 Eastern Home Shopping Network: Key Facts

Summary 12 Eastern Home Shopping Network: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 13 Eastern Home Shopping Network: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 14 Eastern Home Shopping Network: Competitive Position 2007

E-LIFEMALL CORP - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 15 E-Lifemall Corp: Key Facts

Summary 16 E-Lifemall Corp: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

COMPETITIVE POSITIONING

Summary 17 E-Lifemall Corp: Competitive Position 2007

ESLITE CORP - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 18 Eslite Corp: Key Facts

Summary 19 Eslite Corp: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

COMPETITIVE POSITIONING

Summary 20 Eslite Corp: Competitive Position 2007

FAR EASTERN GROUP - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 21 Far Eastern Géant Co Ltd: Key Facts

Summary 22 Pacific Sogo Department Store Co Ltd: Key Facts

Summary 23 Far Eastern Department Stores Co Ltd: Key Facts

Summary 24 Far Eastern Géant Co Ltd: Operational Indicators

Summary 25 Pacific Sogo Department Store Co Ltd: Operational Indicators

Summary 26 Far Eastern Department Stores Co Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 27 Far Eastern Group: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 28 Far Eastern Group: Competitive Position 2007

HI-LIFE INTERNATIONAL CO LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 29 Hi-Life International Co Ltd: Key Facts

Summary 30 Hi-Life International Co Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 31 Hi-Life International Co Ltd: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 32 Hi-Life International Co Ltd: Competitive Position 2007

LES ENPHANTS CO LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 33 Les Enphants Co Ltd: Key Facts

Summary 34 Les Enphants Co Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 35 Les Enphants Co Ltd: Private label products

COMPETITIVE POSITIONING

Summary 36 Les Enphants Co Ltd: Competitive Position 2007

PRESICARRE CO LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 37 PresiCarre Co Ltd: Key Facts

Summary 38 PresiCarre Co Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 39 PresiCarre Co Ltd: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 40 PresiCarre Co Ltd: Competitive Position 2007

PRESIDENT CHAIN STORE CORP - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 41 President Chain Store Corp: Key Facts

Summary 42 President Chain Store Corp: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 43 President Chain Store Corp: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 44 President Chain Store Corp: Competitive Position 2007

RT MART INTERNATIONAL LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 45 RT Mart International Ltd: Key Facts

Summary 46 RT Mart International Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 47 RT Mart International Ltd: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 48 RT Mart International Ltd: Competitive Position 2007

SHIN KONG MITSUKOSHI DEPARTMENT STORE CO LTD (TAIWAN) - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 49 Shin Kong Mitsukoshi Department Store Co Ltd (Taiwan): Key Facts

Summary 50 Shin Kong Mitsukoshi Department Store Co Ltd (Taiwan): Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

COMPETITIVE POSITIONING

Summary 51 Shin Kong Mitsukoshi Department Store Co Ltd (Taiwan): Competitive Position 2007

TAIWAN FAMILY MART CO LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 52 Taiwan Family Mart Co Ltd: Key Facts

Summary 53 Taiwan Family Mart Co Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 54 Taiwan Family Mart Co Ltd: Private label products

COMPETITIVE POSITIONING

Summary 55 Taiwan Family Mart Co Ltd: Competitive Position 2007

TEST RITE INTERNATIONAL CO LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 56 Test Rite International Co Ltd: Key Facts

Summary 57 Hola Home Furnishing Co Ltd : Operational Indicators

Summary 58 B&Q International Co Ltd : Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 59 Test Rite International Co Ltd : Private Label Portfolio

COMPETITIVE POSITIONING

Summary 60 Test Rite International Co Ltd: Competitive Position 2007

TSANN KUEN ENTERPRISE CO LTD - RETAILING - TAIWAN

STRATEGIC DIRECTION

KEY FACTS

Summary 61 Tsann Kuen Enterprise Co Ltd: Key Facts

Summary 62 Tsann Kuen Enterprise Co Ltd: Operational Indicators

COMPANY BACKGROUND

PRIVATE LABEL

Summary 63 Tsann Kuen Enterprise Co Ltd: Private Label Portfolio

COMPETITIVE POSITIONING

Summary 64 Tsann Kuen Enterprise Co Ltd: Competitive Position 2007

HYPERMARKETS IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 22 Hypermarkets: Value Sales, Outlets and Selling Space 2002-2007

Table 23 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 24 Hypermarkets Company Shares by Value 2004-2007

Table 25 Hypermarkets Brand Shares by Value 2004-2007

Table 26 Hypermarkets Outlets by Brand 2004-2007

Table 27 Hypermarkets Selling Space by Brand 2004-2007

Table 28 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 29 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

SUPERMARKETS IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 30 Supermarkets: Value Sales, Outlets and Selling Space 2002-2007

Table 31 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 32 Supermarkets Company Shares by Value 2004-2007

Table 33 Supermarkets Brand Shares by Value 2004-2007

Table 34 Supermarkets Outlets by Brand 2004-2007

Table 35 Supermarkets Selling Space by Brand 2004-2007

Table 36 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 37 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

DISCOUNTERS IN TAIWAN

HEADLINES

CONVENIENCE STORES IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 38 Convenience Stores: Value Sales, Outlets and Selling Space 2002-2007

Table 39 Convenience Stores: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 40 Convenience Stores Company Shares by Value 2004-2007

Table 41 Convenience Stores Brand Shares by Value 2004-2007

Table 42 Convenience Stores Outlets by Brand 2004-2007

Table 43 Convenience Stores Selling Space by Brand 2004-2007

Table 44 Convenience Stores Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 45 Convenience Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

FORECOURT RETAILERS IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 46 Forecourt Retailers: Value Sales, Outlets and Selling Space 2002-2007

Table 47 Forecourt Retailers: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 48 Forecourt Retailers Company Shares by Value 2004-2007

Table 49 Forecourt Retailers Brand Shares by Value 2004-2007

Table 50 Forecourt Retailers Outlets by Brand 2004-2007

Table 51 Forecourt Retailers Selling Space by Brand 2004-2007

Table 52 Forecourt Retailers Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 53 Forecourt Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

MIXED RETAILERS IN TAIWAN

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

SECTOR DATA

Table 54 Mixed Retailers: Value Sales, Outlets and Selling Space 2002-2007

Table 55 Mixed Retailers: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 56 Mixed Retailers Company Shares by Value 2004-2007

Table 57 Mixed Retailers Brand Shares by Value 2004-2007

Table 58 Mixed Retailers Outlets by Brand 2004-2007

Table 59 Mixed Retailers Selling Space by Brand 2004-2007

Table 60 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 61 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

HEALTH AND BEAUTY RETAILERS IN TAIWAN

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

SECTOR DATA

Table 62 Health and Beauty Retailers: Value Sales, Outlets and Selling Space 2002-2007

Table 63 Health and Beauty Retailers: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 64 Health and Beauty Retailers Company Shares by Value 2004-2007

Table 65 Health and Beauty Retailers Brand Shares by Value 2004-2007

Table 66 Health and Beauty Retailers Outlets by Brand 2004-2007

Table 67 Health and Beauty Retailers Selling Space by Brand 2004-2007

Table 68 Health and Beauty Retailers Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 69 Health and Beauty Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

CLOTHING AND FOOTWEAR RETAILERS IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 70 Clothing and Footwear Retailers: Value Sales, Outlets and Selling Space 2002-2007

Table 71 Clothing and Footwear Retailers: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 72 Clothing and Footwear Retailers Company Shares by Value 2004-2007

Table 73 Clothing and Footwear Retailers Brand Shares by Value 2004-2007

Table 74 Clothing and Footwear Retailers Outlets by Brand 2004-2007

Table 75 Clothing and Footwear Retailers Selling Space by Brand 2004-2007

Table 76 Clothing and Footwear Retailers Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 77 Clothing and Footwear Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

FURNITURE AND FURNISHINGS STORES IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 78 Furniture and Furnishings Stores: Value Sales, Outlets and Selling Space 2002-2007

Table 79 Furniture and Furnishings Stores: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 80 Furniture and Furnishings Stores Company Shares by Value 2004-2007

Table 81 Furniture and Furnishings Stores Brand Shares by Value 2004-2007

Table 82 Furniture and Furnishings Stores Outlets by Brand 2004-2007

Table 83 Furniture and Furnishings Stores Selling Space by Brand 2004-2007

Table 84 Furniture and Furnishings Stores Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 85 Furniture and Furnishings Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

DIY AND HARDWARE STORES IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 86 DIY and Hardware Stores: Value Sales, Outlets and Selling Space 2002-2007

Table 87 DIY and Hardware Stores: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 88 DIY and Hardware Stores Company Shares by Value 2004-2007

Table 89 DIY and Hardware Stores Brand Shares by Value 2004-2007

Table 90 DIY and Hardware Stores Outlets by Brand 2004-2007

Table 91 DIY and Hardware Stores Selling Space by Brand 2004-2007

Table 92 DIY and Hardware Stores Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 93 DIY and Hardware Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

DURABLE GOODS RETAILERS IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 94 Durable Goods Retailers: Value Sales, Outlets and Selling Space 2002-2007

Table 95 Durable Goods Retailers: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 96 Durable Goods Retailers Company Shares by Value 2004-2007

Table 97 Durable Goods Retailers Brand Shares by Value 2004-2007

Table 98 Durable Goods Retailers Outlets by Brand 2004-2007

Table 99 Durable Goods Retailers Selling Space by Brand 2004-2007

Table 100 Durable Goods Retailers Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 101 Durable Goods Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

LEISURE AND PERSONAL GOODS RETAILERS IN TAIWAN

HEADLINES

OVERVIEW

SECTOR DATA

Table 102 Leisure and Personal Goods Retailers: Value Sales, Outlets and Selling Space 2002-2007

Table 103 Leisure and Personal Goods Retailers: Value Sales, Outlets and Selling Space: % Growth 2002-2007

Table 104 Leisure and Personal Goods Retailers Company Shares by Value 2004-2007

Table 105 Leisure and Personal Goods Retailers Brand Shares by Value 2004-2007

Table 106 Leisure and Personal Goods Retailers Outlets by Brand 2004-2007

Table 107 Leisure and Personal Goods Retailers Selling Space by Brand 2004-2007

Table 108 Leisure and Personal Goods Retailers Forecasts: Value Sales, Outlets and Selling Space 2007-2012

Table 109 Leisure and Personal Goods Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2007-2012

VENDING IN TAIWAN

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

SECTOR DATA

Table 110 Vending: Value 2002-2007

Table 111 Vending: % Value Growth 2002-2007

Table 112 Vending Company Shares by Value 2004-2007

Table 113 Vending Brand Shares by Value 2004-2007

Table 114 Vending Forecasts: Value 2007-2012

Table 115 Vending Forecasts: % Value Growth 2007-2012

HOMESHOPPING IN TAIWAN

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

SECTOR DATA

Table 116 Homeshopping: Value 2002-2007

Table 117 Homeshopping: % Value Growth 2002-2007

Table 118 Homeshopping Company Shares by Value 2004-2007

Table 119 Homeshopping Brand Shares by Value 2004-2007

Table 120 Homeshopping Forecasts: Value 2007-2012

Table 121 Homeshopping Forecasts: % Value Growth 2007-2012

INTERNET RETAILING IN TAIWAN

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

SECTOR DATA

Table 122 Internet Retailing: Value 2002-2007

Table 123 Internet Retailing: % Value Growth 2002-2007

Table 124 Internet Retailing Company Shares by Value 2004-2007

Table 125 Internet Retailing Brand Shares by Value 2004-2007

Table 126 Internet Retailing Forecasts: Value 2007-2012

Table 127 Internet Retailing Forecasts: % Value Growth 2007-2012

DIRECT SELLING IN TAIWAN

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

SECTOR DATA

Table 128 Direct Selling: Value 2002-2007

Table 129 Direct Selling: % Value Growth 2002-2007

Table 130 Direct Selling Company Shares by Value 2004-2007

Table 131 Direct Selling Brand Shares by Value 2004-2007

Table 132 Direct Selling Forecasts: Value 2007-2012

Table 133 Direct Selling Forecasts: % Value Growth 2007-2012

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