Trustnet Magazine 69 January 2021 | Page 23

[ BAILLIE GIFFORD ] become more brand conscious , less interested in discounts and more willing to up their spending on special editions of products . From a purely financial point of view , the direct-to-consumer online business cuts out the middleman and therefore should , even in the medium term , lead to higher margins . All it takes is an app , your own warehouses , and a production model that works for the platform . That ’ s why Sitte believes it ’ s an avenue that companies will pursue more aggressively . It ’ s also a good indicator of how innovation , born of necessity during the pandemic , means there ’ s no going back to our old shopping habits .
You can hear more of Moritz ’ s thoughts on the future of online shopping in the Baillie Gifford podcast Short Briefings on Long Term Thinking . You can listen to the podcast at www . bailliegifford . com / podcasts
This article contains information on investments which does not constitute independent investment research . Accordingly , it is not subject to the protections afforded to independent research and Baillie Gifford and its staff may have dealt in the investments concerned .
Investment markets and conditions can change rapidly . The views expressed should not be taken as fact and no reliance should be placed upon these when making investment decisions . They should not be considered as advice or a recommendation to buy , sell or hold a particular investment .
The trust invests in overseas securities . Changes in the rates of exchange may also cause the value of your investment ( and any income it may pay ) to go down or up .
Baillie Gifford & Co Limited is authorised and regulated by the Financial Conduct Authority ( FCA ). The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies . The Baillie Gifford European Growth Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority .
A key information document is available at www . bailliegifford . com
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