Swisse, the second-biggest player in the Australian vitamins market, expects its sales to begin stabilising in calendar 2021 as it shifts its focus to reinvigorating its local e-commerce sales after a horror 2020.
Revenues from the Swisse Australian business slumped 32 per cent to $260 million in calendar 2020 after the disappearance of corporate daigou traders, who had previously been an engine room as they bought up huge volumes of products and shipped them to China for sale on e-commerce sites.