DOCSLIB.ORG

Annual Report 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2019 ENGLISH TRANSLATION Annual Report 2019 Table of Contents To our Shareholders Report of the Supervisory Board ......................................................................................................... 3 Group Management Report Group findamentals ............................................................................................................................... 8 Economic report..................................................................................................................................... 9 Key features of the accounting related internal control an risk management system ................... 18 Declaration on corporate management .............................................................................................. 26 Events after the balance sheet date .................................................................................................... 26 Group Financial statement Independent auditor’s report ............................................................................................................. 28 Consolidated Statements of financial position................................................................................... 34 Consolidated Statements of Operations and comprehensive income (Loss) ................................... 35 Consolidated Statements of changes in Equitiy ................................................................................ 36 Consolidated Statements of Cash-flows ............................................................................................. 37 Notes to the Consolidated Financial Statements ............................................................................... 38 Report of the Supervisory Board Dear Shareholders, 2019 was a momentous year for Jumia Technologies AG (“Jumia” or the “Company”) as the company completed its initial public offering on the New York Stock Exchange in April 2019. Since that time, the Company has remained focused on its mission to improve the quality of everyday life in Africa by leveraging technology to deliver innovative, convenient and affordable online services to consumers, while helping businesses grow as they use our platform to reach and serve consumers. Below, we would like to inform you about the work of the supervisory board and its committees in fiscal year 2019 to support Jumia in its mission: Cooperation between Supervisory Board and Management Board In the financial year 2019, the supervisory board of Jumia has cooperated with the management board on a basis of trust. The main focus was on the financial position of Jumia against the background of the initial public offering and the economic environment, the medium-term corporate planning and the strategic development of the group, the investigation into the sales practices completed in early 2020 and remediation planning following the completion of the investigation, the coordination and monitoring of the company’s system of internal controls and the lawsuits filed against the company in the United States. The supervisory board has on a regular basis supervised, and accompanied in an advisory capacity, the work of the management board in compliance with the laws, the company’s articles of association and the German Corporate Governance Code [Deutscher Corporate Governance Kodex]. The management board has on a regular basis informed the supervisory board promptly and comprehensively, in writing and orally, about the state of Jumia and discussed with it in detail the development of the business and decisions. The management board has fully complied with its duties to inform the supervisory board. Monitoring of the management board’s management activities and other main areas of activity of the supervisory board The supervisory board has ensured that legal regulations, the articles of association and the rules of procedure of both the supervisory board and the management board have been complied with. It has taken the decisions required by any law and the articles of association. Where a business transaction required the approval of the supervisory board, it has discussed it thoroughly with the management board before adopting a resolution. The cooperation between the supervisory board and the management board always was constructive and target-oriented. As part of its supervisory functions, the supervisory board dealt with the following focal topics, among others: Business development during the year Individual and consolidated annual financial statements for the financial year 2019 Audit planning and reporting of the internal accounting control system, in particular compliance with the provisions of the Sarbanes-Oxley Act of 2002 Strategic considerations regarding communication and course of action in lawsuits of the company in the United States 3 Internal investigation into certain sales practices and remediation planning following the completion of the investigation Assessment and adjustment of the remuneration components of the management board Budget planning of the Jumia group for the financial year 2020 Declaration of compliance with the German Corporate Governance Code Changes to the supervisory board The supervisory board of Jumia Technologies AG had eight (8) members as of 31 December 2019. In the year under report, the structure of the supervisory board was changed and a new member was elected. On 7 March 2019, the general meeting adopted a resolution to increase the number of the supervisory board members from seven (7) to eight (8) and elected Angela Kaya Mwanza to the supervisory board. At the time of this report, one supervisory board member has resigned from the supervisory board. Alioune Ndiaye resigned from the supervisory board on 24 February 2020. Composition of the supervisory board and the committees All members of the supervisory board are elected by the general meeting to be representatives of the shareholders. The supervisory board is not subject to the German Co-determination Act [Gesetz über die Mitbestimmung der Arbeitnehmer]. In the financial year 2019, the supervisory board had four committees: Audit committee Remuneration committee Executive and nominations committee IPO committee (dissolved in April 2019) Meetings of the supervisory board In 2019, the supervisory board held four ordinary supervisory board meetings to exercise its functions. Five (5) of seven (7) supervisory board members were represented in the meeting held on 28 February, six (6) of eight (8) in the meeting held on 18 June and seven (7) of eight (8) in each of the meetings held on 10 September and 10 December. In the year under report, the supervisory board primarily dealt with the development of the business and the general financial and strategic position of the company, the internal investigation into certain sales practices and remediation planning following the completion of the investigation, the planning and definition of the budget targets for the year 2020 and the reports of the committees. The management board also informed the supervisory board in detail about the development of the business and financial situation, the risk situation, the market and competitive situation and the human resources situation. The reports of the management board complied with the legal requirements, the principles of good corporate governance and the requirements defined by the supervisory board. Activities of the supervisory board committees The supervisory board has appointed four committees, one of which dissolved following the Company’s initial public offering. The remuneration committee deals with the contracts of employment and personnel matters of the management board. The meetings were attended by all committee members in the course of the financial year. The committee convened seven (7) times during the year. Among 4 other things, it dealt with the structure of the management board’s remuneration. As regards this, particular attention is given to compliance with the requirements of the German Corporate Governance Code. The audit committee in particular deals with questions regarding the accounting process, risk management and audit planning, communication with the internal audit department, the investigation into certain sales practices and remediation planning following the completion of the investigation, and the lawsuits in the United States. The committee convened eleven (11) times during the year, one meeting serving to prepare the approval of the annual financial statements and the approval of the consolidated annual financial statements. With one exception, the meetings were attended by all committee members. The corporate governance and nominations committee controls compliance with the rules of the German Corporate Governance Code, nominates members of the management board and proposes members for election to the supervisory board. At the recommendation of the corporate governance and nominations committee, the supervisory board issued the declaration of compliance in accordance with Section 161 AktG [German Stock Corporation Act] on 26 December 2019. The company complies with most of the recommendations of the Code. The few deviations are also explained in the corporate governance report that has been published in connection with the corporate governance declaration on the website www. investor.jumia.com/Corporate_Governance. The IPO committee existed until completion of the initial public offering in April 2019 and in particular dealt with the examination and approval of all
Load more

Recommended publications
  • Online Food & Beverage Delivery in Ghana
    G H A N A F O O D I N D E X 2 0 2 0 ONLINE FOOD & BEVERAGE DELIVERY IN GHANA The Ghanaian food and grocery retail market was valued at USD 311.7 million in 2018 and it is expected to grow at a CAGR of 14.6% to reach over USD 500 million by 2026.The increasing disposable income of the people in Ghana, will increase the buying power of people for consumer goods. According to the World Bank, in 2017, the household final consumption expenditure has grown by 11.3% in Ghana. Also, increasing urbanization is one of the factors driving the Ghana retail industry market In 2019. Ghanaians spend most of their income on food and non-alcoholic beverages that account for 41% of total expenditure. Ghana is the 11th largest grocery retail market in Africa, and the second largest in West Africa only after Nigeria. Hence, online food delivery is gaining momentum through companies such as Jumia Food. Due to the impact of the Covid-19, there has been a growth in food and non-alcoholic beverage orders in 2020, as consumers re-prioritise their spending patterns towards only essentials.The food and grocery retail market includes the retail sales of all food products, both packaged and unpackaged, as well as beverages (including retail sales of all alcoholic and non-alcoholic beverages),and household products. Post-COVID Online Food delivery is changing habits in unexpected ways as more Ghanaians have shifted to buying food and groceries online to limit risks of contracting the virus, save money and time.
    [Show full text]
  • A National E-Commerce Strategy for Egypt
    A National E-commerce Strategy for Egypt Shamika N. Sirimanne Director, Division on Technology and Logistics UNCTAD E-commerce Week 19 April 2018, Geneva, Switzerland E-Commerce is Transformational… …Bringing both opportunities and risks for developing countries The digital evolution has major implications for the implementation of the 2030 Agenda for Sustainable Development Emerging markets • Online shoppers in the top ten e-commerce growing fast markets rose from 600 Retail e-commerce growth 2016 million to 1.2 billion between 2010 and 2016 …and digitalization has only begun • Internet-enabled devices to rise from 6-8bn to 25-50bn by 2020 Source: UNCTAD, eMarketer, August 2016. 0 100% The e-commerce divide is huge Proportion of internet users purchasing online and participating in social networks, selected countries, 2015. Source: ITU Participation rates in social media Purchasing goods and services online Current uptake of e-commerce - Key facts Only about 5.3% of Very few Egyptian Social media internet users 15+ enterprises preferred years in Egypt shop current sell online: channel for online 17% of large firm online marketing 3% of small firms Even lower for Only 1 in 10 women, older handicraft MSEs use people and in rural the Internet; much areas fewer sell their products online E-commerce can boost economic growth E-commerce can facilitate exports E-commerce to stimulate rural development E-commerce can generate government revenue E-commerce can can create new jobs Inclusive Process • The development of this strategy has involved
    [Show full text]
  • Africa Bulletin
    AfricaBulletin Africa Investment Opportunities: Risk and Reward A Brewing Anti-Corruption Enforcement Storm: Private Equity Investments in Sub- Saharan Africa Ask the Expert: Macky O’Sullivan and Fred Binka Discuss Trends in the Credit Markets in Africa The Future of Commercial and Investment Arbitration in South Africa Foreword We are pleased to introduce this The following topics are covered in this issue: • Macky O’Sullivan discusses the potential of edition of King & Spalding’s Africa as an investment destination for Africa Bulletin. Our firm has a investors, as well as key considerations rich history of providing the and mitigants. • Aaron Stephens and Naana Frimpong discuss anti- highest-quality legal services to corruption enforcement in relation to private our clients in relation to their equity investments in Africa. transactions across Africa. More • Macky O’Sullivan and Fred Binka (managing partner, TIA Capital) discuss trends in the credit than half of our lawyers have markets in Africa. worked on deals and disputes in • Elodie Dulac and Caline Mouawad discuss the future of commercial and investment arbitration Africa, and many of them spend in South Africa. 80 to 100 percent of their time on We hope that you find Africa Bulletin interesting, and Africa-related work. Africa has we welcome any feedback you may have on this publication. been and remains a core part of King & Spalding’s international Jawad I. Ali offering. Managing partner–Middle East offices, Head of EMEA Corporate, Finance and Investments team Volume 2 Copyright 2019, King & Spalding LLP. All rights reserved. The information provided in this bulletin is intended to inform but is not a substitute for specific legal or other professional advice where warranted by each situation’s facts and circumstances.
    [Show full text]
  • Overview Materials May 2021 Disclaimer
    Overview materials May 2021 Disclaimer IMPORTANT NOTICE This presentation includes forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “believes,” “estimates”, “potential” or “continue” or the negative of these terms or other similar expressions that are intended to identify forward-looking statements. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make.
    [Show full text]
  • SJET) ISSN 2347-9523 (Print) Abbreviated Key Title: Sch
    Scholars Journal of Engineering and Technology (SJET) ISSN 2347-9523 (Print) Abbreviated Key Title: Sch. J. Eng. Tech. ISSN 2321-435X (Online) ©Scholars Academic and Scientific Publisher A Unit of Scholars Academic and Scientific Society, India www.saspublisher.com Electronic Commerce in Developing Countries: Challenges and Impact Borget Alfred Anoye, PhD* Department of Mechanical and Energetical Engineering, Institute National Polytechnique Félix Houphouët Boigny (INP- HB), Yamoussoukro, Ivory Coast Abstract: Despite the lack of appropriate electronic payment systems and poor internet Review Article access, more and more African entrepreneurs are entering the e-commerce sector. However, its development remains dependent on greater than before access to the internet *Corresponding author by the population. Several experts predict that Africa will experience the same type of Borget Alfred Anoye technological increase in commerce as in mobile phones. With a rapidly expanding population, the emergence of a large middle class and an increasing number of Internet Article History users, the evolution of virtual commerce seems to be well on the continent. However, the Received: 20.11.2018 lack of customer confidence in the payment system, the logistical challenge or the risks of Accepted: 28.11.2018 fraudulent transactions are likely to constitute obstacles to the development of this new Published: 30.12.2018 digital economy. Nevertheless, even if e-commerce in Africa represents only 2% of the global market, growth prospects remain promising in a continent where everything DOI: remains to be done and built. Ivory Coast is one of the most connected countries in Africa 10.21276/sjet.2018.6.12.4 and has the second fastest mobile connection in the continent.
    [Show full text]
  • Mastercard and Jumia Expand Relationship to Accelerate E-Commerce Growth in Africa
    Mastercard and Jumia expand relationship to accelerate e-commerce growth in Africa March 29, 2019 Company News, Press Releases Mastercard agrees to become a shareholder in leading e-commerce platform 29th March 2019: Jumia, the leading pan-African e-commerce platform, today announced that Mastercard (NYSE:MA) has agreed, subject to certain conditions, to become an investor and form a strategic partnership to grow e-commerce operations and support the digital transformation of the continent. Currently, e-commerce is nascent in Africa and accounts for less than 1% of total retail volumes. However, there are over 400 million internet users across the continent – amongst the largest in the world – which highlights the vast potential for growth. Under the new agreement, the two companies will look to build on Mastercard’s presence across Africa, bringing its deep knowledge and expertise in payment solutions and technologies to spark new innovations and spur development in new customer segments. As part of the deal, the companies have also agreed to build on their current efforts to accelerate the adoption of electronic payment platforms among consumers and merchants. Sacha Poignonnec, co-CEO of Jumia, said: “We are delighted to strengthen our existing partnership with Mastercard, and consolidate Jumia’s position as the leading e- commerce platform in Africa. This investment highlights the strategic synergies between the two companies, as we both seek to develop the payments ecosystem and drive financial inclusion across Africa.” Jumia and Mastercard first partnered in 2016 with the successful launch of Mastercard Payment Gateway Solutions in several markets. That same year, Mastercard supported Jumia in the launch of JumiaPay, the payment service of the Jumia platform that facilitates transactions for consumers and sellers.
    [Show full text]
  • Jumia Launches Its Food Festival to Promote Adoption of Meal Ordering & Support Local Restaurants During COVID-19
    Jumia launches its Food Festival to promote adoption of meal ordering & support local restaurants during COVID-19 Inspired by the World Food Day celebrations on Oct 16th, this month-long event will also showcase the diversity of the African food industry. Lagos (Nigeria), 30th September 2020: Africa’s E-commerce platform Jumia (NYSE: JMIA) has announced the launch of a Food Festival Campaign which will take place from the 1st to 31st October 2020. The campaign is organized in partnership with local restaurants and supermarkets, as well as blue chip international restaurant chains such as KFC, Burger King and McDonald’s. The objective of the campaign is to promote the adoption of meal and food ordering among consumers, which have become increasingly popular in the last few years. The event is also aimed at supporting restaurant businesses and the overall food ecosystem, as these have been severely affected by COVID-19 lockdown restrictions, resulting in less capacity, fewer opening hours and sometimes shutdowns. As part of the festival, Jumia will be hosting on its platform a wide variety of convenience food suppliers including grocery shops, bakeries as well as a broad range of restaurants and cuisines. Discounts of up to 50% and free delivery will be offered to consumers on food, beverages and supermarket purchases as part of the event. Additional discounts will be made available on orders placed using JumiaPay. “We have been partnering with restaurants and supermarkets for many years now. Many of them have been through tough times over the past few months and are still suffering from the restrictions imposed as part of COVID-19 measures.
    [Show full text]
  • Digital Technologies for Small and Medium Enterprises and Job Creation in Sub-Saharan Africa Joël Cariolle, David Carroll
    Digital Technologies for Small and Medium Enterprises and job creation in Sub-Saharan Africa Joël Cariolle, David Carroll To cite this version: Joël Cariolle, David Carroll. Digital Technologies for Small and Medium Enterprises and job creation in Sub-Saharan Africa. [Research Report] FERDI. 2020. hal-03004583 HAL Id: hal-03004583 https://hal.archives-ouvertes.fr/hal-03004583 Submitted on 13 Nov 2020 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Distributed under a Creative Commons Attribution - NonCommercial - NoDerivatives| 4.0 International License fondation pour les études et recherches sur le développement international Chair “Digital Trust” Digital for Development Research Initiative Digital Technologies for Small and Medium Enterprises and job creation in Sub-Saharan Africa Joël CARIOLLE, Research Officer, Foundation for international development study and research (FERDI), Clermont-Ferrand, France. Email: [email protected] David A. CARROLL II, Doctoral student, Friedman School of Nutrition Science and Policy, Tuft University, Boston, USA Email: [email protected] LA FERDI EST UNE FONDATION RECONNUE D’UTILITÉ PUBLIQUE. RECONNUE LA FERDI EST UNE FONDATION ET LA GOUVERNANCE MONDIALE (IDGM). POUR LE DÉVELOPPEMENT L’INITIATIVE L’IDDRI ELLE MET EN ŒUVRE AVEC CERDI ET À L’IDDRI.
    [Show full text]
  • African Powers of Retailing New Horizons for Growth Foreword
    African Powers of Retailing New horizons for growth Foreword The report is the first in an annual series The natural link between the retail International retailer interest in Africa For both international and African where we track the progress of the top opportunity and understanding the also appears to be increasing with early companies seeking to invest on the Welcome to the African retail performers on the continent. consumer is illustrated in our recent stage retail development representing continent the opportunities clearly exist We have set out to provide a comparative report – The Deloitte Consumer Review: significant potential as retail chains and; there are local players to partner first edition of our macro-view of African-based (or ‘home Africa: A 21st Century view. It highlights develop, gain economies of scale, and with who know the markets, understand grown’) listed companies whose core 5 key pillars of the consumer opportunity food safety and higher store standards its cultures, and speak the languages. African Powers of business is retail. African-listed subsidiaries in Africa: the rise of the middle class, become embedded in shopper If common ground can be found, a of large global retailers are included as exponential population growth, the expectations. combination of international expertise Retailing report, individual entities, while we have chosen dominance of youth, rapid urbanisation, together with local knowledge might be not to focus on foreign multi national and fast adoption of digital technologies. The emerging importance of and a successful formula for ongoing retail which identifies companies with operations in Africa. increasing competition in forecourt growth in Africa.
    [Show full text]
  • Pernod Ricard SA EMEA & LATAM Conference Call on November 28
    Client Id: 77 THOMSON REUTERS STREETEVENTS EDITED TRANSCRIPT RI.PA - Pernod Ricard SA EMEA & LATAM Conference Call EVENT DATE/TIME: NOVEMBER 28, 2019 / 2:00PM GMT THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2019 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. Client Id: 77 NOVEMBER 28, 2019 / 2:00PM, RI.PA - Pernod Ricard SA EMEA & LATAM Conference Call CORPORATE PARTICIPANTS Gilles Bogaert Pernod Ricard EMEA & LATAM - Chairman and CEO Julia Massies Pernod Ricard SA - VP of Financial Communication & IR CONFERENCE CALL PARTICIPANTS Andrea Pistacchi Deutsche Bank AG, Research Division - Research Analyst Chris Pitcher Redburn (Europe) Limited, Research Division - Partner of Beverages Research Edward Brampton Mundy Jefferies LLC, Research Division - Equity Analyst Sanjeet Aujla Crédit Suisse AG, Research Division - European Beverages Analyst PRESENTATION Operator Ladies and gentlemen, thank you for standing by, and welcome to the EMEA LATAM conference call. (Operator Instructions) I must also advise you the conference is being recorded today, Thursday, the 28th of November 2019. I would now like to hand over to your first speaker today, Julia Massies. Please go ahead. Julia Massies - Pernod Ricard SA - VP of Financial Communication & IR Good afternoon and good morning, depending on where you are, ladies and gentlemen. Delighted today to introduce our regional conference call for EMEA LATAM. We're hosted by Gilles Bogaert, our Chairman and CEO. So as said, we'll go through a quick presentation and then on to your questions.
    [Show full text]
  • Jumia the Generational
    The Generational Buy Investors Listen Well Well © Copyright 2020 | Citron Research | www.citronresearch.com | All Inquiries – [email protected] Background In May 2019, Citron exposed the problems at Jumia Technologies (JMIA) that included: • Discrepancies in financials between investor presentations and SEC filings • Fraudulent orders • A company burdened with inefficiencies EVERYTHING HAS NOW CHANGED. While we acknowledge that starting an e-commerce business in an emerging market will have its challenges, the rewards can be great for patient investors as we’ve seen with MELI, BABA and SE. Over the past year, the pandemic has accelerated the global shift to e-commerce and JMIA has benefited from: • Acceleration of e-commerce adoption by Nigerian consumers • The renewed focus on profitability • The rapid acceptance of fintech products in Nigeria including JumiaPay • The ability to use JMIA has a platform for ancillary products “Investors who ignore Nigeria now have to ask themselves: What do I know that Patrick Collison doesn’t?” – Paul Graham 2 All About The TAM In Citron’s initial short recommendations on JMIA, the one bit of hesitation we always had was the size of the of the addressable market vs. the misstatements in the financials. There is no denying that the COVID-19 pandemic has accelerated e-commerce globally. JMIA is the key beneficiary as it is the only scaled e-commerce player in Africa. You can’t deny the numbers: • 1.3 billion population • 523 million internet users • Fastest growing continent in the world that will account for >50% of global population growth between now and 2050 • McKinsey estimates that Africa e-commerce will grow to a $75 billion market opportunity by 2025 • In Nigeria, over 40% of the population is under the age of 14 and over 50% of registered voters are under the age of 35 EITHER THESE YOUNG NIGERIANS WILL BE THE FIRST PEOPLE ON EARTH TO NOT ACCEPT E-COMMERCE OR THE STOCK IS GOING TO $100.
    [Show full text]
  • How E-Commerce and E-Logistics Platforms Can Sustain the Digital Transformation Fueled by COVID-19
    How e-commerce and e-logistics platforms can sustain the digital transformation fueled by COVID-19 Authored by: Andaa Capital Advisory team: Mercy Corps’ Youth Impact Labs According to IBM’s US retail Index, COVID-19 is estimated to have accelerated the shift from physical stores to digital platforms by about five years in the United States. In Kenya, according to the COVID-19 CEMEA Impact Tracker, 39% of consumers surveyed indicated that COVID-19 led to their first online grocery purchase. The initial surge in online shopping witnessed at the onset of the COVID-19 pandemic in April has dissipated as measures put in place to curb the spread of the disease were eased. The easing of restrictions has coincided with an increase in infections in Kenya as well as other countries such as the UK and France, which have announced a second round of national lockdowns. An increase in infection rates strongly signals an imminent second wave of infections which is likely to result in more growth for online commerce. This may necessitate the upscaling of digital channels and the necessary infrastructure required to support a second spike in e-commerce. COVID-19 led to a decline in in-store visits and increased online shopping. At the onset of the pandemic, Gobeba and Glovo recorded an increase in grocery orders of 200% and 25- 30%, respectively. Glovo also saw a 25% growth in sales of cleaning agents and hygiene products such as disinfectants, sanitisers and antiseptic cream. There has been a significant reduction in non-essential purchases online as consumers prioritise more essential goods and services.
    [Show full text]