Business
A2 Milk cuts guidance as daigou market collapses – The Australian Financial Review
Reduced tourism from China, the collapse of the international student market and COVID-19 restrictions have led to a contraction in the daigou channel.
After a strong March quarter boosted by pantry stuffing, sales started coming under pressure in the June quarter and first few months of 2021 as consumers destocked pantries and the daigou channel was disrupted by reduced tourism from China and the collapse of the international student market.
A2 Milk warned earlier this month it had started to see COVID-19 disrupt its corporate daigou reseller channel in Australia due to the extension of the stage four lockdown in Victoria. The company shifted…
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