One Of The Worlds Biggest Stores Is Coming Down Under
Amazon is looking to expand into Australia as it eyes up taking over JB Hi-Fi and Harvey Norman’s market share.
Amazon is known as being one of the biggest ‘disrupters’ for retailers and could generate sales of up to $4 billion in Australia with its focus on electrical items.
Early estimates believe that JB Hi-Fi could see its earnings fall by 23% and Harvey Normans could see a 19% fall which translates to about 6% in sales.
As well as electronics stores, the fresh food sector can expect a tough time as Amazon has recently launched a food delivery service.
Wesfarmers, who own Coles, Chief executive said earlier in the year that Amazon would eat ‘’all our breakfasts, lunches and dinners" unless Australian retailers became more innovative and barriers to competition were removed.
Australias are believed to spend between $500 million to $700 million on Amazon’s websites a year, which is usually processed in American Dollars or through their kindle stores.
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