THE WHAT? L’Oréal CEO Jean-Paul Agon has revealed that online sales in China have gone some way to compensate for a dip in business in the wake of the coronavirus outbreak, according to a report published by Reuters.
THE DETAILS The French beauty giant said that lost business due to coronavirus has been partially offset by strong online sales, with February transactions up on the same period a year before.
“Even in February (online) sales were really good,” Agon said at the CAGNY consumer analyst conference in Florida, per Reuters. “Sales of beauty products on e-commerce sites are stronger than last year.”
THE WHY? Although several regions of China are on lockdown, platforms such as Alibaba and JD are ‘finding solutions’ to the logistics challenges posed by quarantine and continuing to offer delivery services in some areas, making online shopping a feasible option, says Reuters.