L'Oreal sets itself up for a world of e-commerce consumers
It's not all doom for L'Oreal, who quickly shifted its advertising and marketing spending online during the recent crisis, taking it to about 70% of the total up 20% from before the pandemic.
In the first quarter to the end of March, the French group’s e-commerce sales grew by 53% compared with a year earlier. And in just six years, online sales now contribute more than 20% of total sales.
Noting this revenue is from its own branded website, but also online retailers such as Amazon or Walmart.
“We are setting ourselves up for a world where half of the business is ecommerce and 80 per cent of consumer interactions will happen online," comments Ms Roche.
Read the full article on The Financial Times.
Source | The Financial Times