Though the online sales of health products and daily essentials were booming due to Covid-19, the ongoing pandemic has taken a heavy toll on online retailers of fashion, cosmetics, and other imported products, says a recent study. Of those trying to reduce the losses of revenue by cancelling orders and selling off their stocks since April, 24 percent of them eventually had to shut their businesses in June. The study by the BRAC Institute of Governance and Development (BIGD) at BRAC University was first conducted in April and then followed in May-June, Mehnaz Rabbani, programme lead (Research, Policy, and Governance) at BIGD, said while presenting the findings during a webinar today.
Though the online sales of health products and daily essentials were booming due to Covid-19, the ongoing pandemic has taken a heavy toll on online retailers of fashion, cosmetics, and other imported products, says a recent study. Of those trying to reduce the losses of revenue by cancelling orders and selling off their stocks since April, 24 percent of them eventually had to shut their businesses in June. The study by the BRAC Institute of Governance and Development (BIGD) at BRAC University was first conducted in April and then followed in May-June, Mehnaz Rabbani, programme lead (Research, Policy, and Governance) at BIGD, said while presenting the findings during a webinar today.