Review by Ted Nuyten on BeautyCounter
The success of Beautycounter — which was founded by Gregg Renfrew in 2011 and is currently on track to generate $225 million in annual revenue by the end of 2017, according to market sources — is particularly impressive given that the company doesn’t spend any money on traditional advertising. Instead, Beautycounter, which only sells products it says are free from harmful chemicals, relies largely on direct peer-to-peer sales by a network of over 25,000 independent consultants.
Pioneered by the likes of Avon, Mary Kay and Tupperware, the concept of peer-to-peer selling has been around for decades, having emerged as an early way for non-working women to earn extra money. Now the approach has new momentum, thanks to social media and the rise of the “gig economy,” a term coined at the height of the financial crisis in 2009 to describe the growing shift to more part-time, short-term or freelance work arrangements.