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June 2nd 2021 10:05
New technology is opening up further opportunities within ecommerce, as AR and 3D sizing solutions help online retailers to solve challenges around size and fit.
Consumers are already shopping online more than ever before, of course, but these solutions could further accelerate the shift to ecommerce – particularly within fashion.
The EY Consumer Index recently found that 60% of US consumers are currently visiting brick-and-mortar stores less than they did before the pandemic, while 43% of those surveyed shop more often online for products they would have previously bought in stores.
With further innovation in sizing technology, could we see even more consumers ditching physical retail for specific products or journeys?
On a consolidated basis, Shoppers Stop s net loss stood at Rs 24.10 crore in Q4 FY21 compared with net loss of Rs 127.22 crore in Q4 FY20.
Net sales fell 6.1% to Rs 680.46 crore in Q4 FY21 as against Rs 724.38 crore in Q4 FY20. Pre-tax loss stood at Rs 24.24 crore in Q4 FY21 as against pre-tax loss of Rs 151.80 crore in Q4 FY20.
The business rapidly recovered from the pandemic in Q4. The recovery in footfalls and sales had begun in Q3 vs preceding quarters and it continued in Q4. For the quarter, the firm had 90% of FY20 sales, the strongest recovery in the last 4 quarters. However, with the pandemic in India, taking a severe turn in the second half of March, the year has ended on a sombre note.
Shoppers Stop reports revenue of Rs 825 3 Crs and EBITDA of Rs 10 5 Crs in Q4FY21 equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.