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13:38
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Originally posted by AimForSimon:
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What slowdown in online sales are you talking about. Auckland exports were up 55% and these all go to Australia and Hong Kong for the Daigou trade. The slower Lyttleton growth only reflects the fact that a plant operating at capacity can't export any more than they produce. What they can do is produce more China label product which is going into MBS stores. I think at their last update they were in 16k stores across China with most of these reasonably new. Some Chinese consumers like Chinese label product from MBS while other prefer Daigou bought product as they trust the product sold in Australia over the product sold direct in China. Over time this will probably change but in the short term at least there will be a mix of sales.
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Not sure where you plucked that I said there was a slowdown in online sales. Was just stating the importance of the MSB.
(20min delay)