The assumption that they are losing any market share in Australian IF sales needs testing in my view.
When you remove daigou from the equation - as they are largely gone - I think AU is just a much smaller market. So the relevant indicator isn't the amount of sales or whether shelves are empty or not. Probably better to start with whether they have gained or lost market share in Australia after shifting away from daigou and to direct ecommerce sales into China.
The assumption that they are losing any market share in...
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