Zalando product demand hit by lockdowns in key markets due to Covid-19 outbreak
Online giant, Zalando has announced that lockdowns and restrictions on public life due to the Coronavirus outbreak has resulted in lower demand for its products.
Zalando stated it had not seen a significant impact from the global health crisis until shutdowns were imposed in several of its major markets in recent weeks.
The online fashion retailer said: "Since the restrictions on public life, we have noticed negative effects in the form of lower demand in the affected areas."
Last month, Zalando's forecast sales growth of 15-20% for 2020, down from 20.3% in 2019, excluding any negative impact from the Covid-19 outbreak.
The business said it welcomed the European Union's measures, such as keeping its borders open for logistics and travellers, including essential services like parcel deliveries still being allowed.
Zalando added: "These steps will be decisive to minimise the economic impact during the crisis."