Australian health supplement company Blackmores has shifted its market focus away from China and has plans to expand in Indonesia, Thailand and India.
Many dedicated resellers have started offering in-demand product delivery services in Australia leading to a 7 per cent decline in the corporate daigou market.
Company CEO Alastair Symington said discounted promotions have led to “a lack of differentiation between brands” and that customers should not expect a price dispute with the brand’s competitors, according to News.com.
Despite uncertain and volatile trading conditions, the company has registered a 9.6-per-cent rise in underlying net profit in the first half with a margin growth of 18 per cent in Australia and New Zealand.
Amid lockdowns, customers in Indonesia bought great quantities of vitamin D and zinc supplements to boost their immune health.
A recent distribution partnership with Indian business-to-business e-commerce platform Udaan will ensure independent pharmacies selling the company’s products in 10 cities. Blackmores entered the Indian market last year in collaboration with Amazon India.