Amazon to wipe out more than one third of JB Hi-Fi, Harvey Norman earnings: CITI

Australian retailers will cut the price of electronic goods by about 10 per cent to remain competitive when Amazon arrives on our shores and will lose more than third of their earnings, market analysts say.
CITI analysts said in a note published on Wednesday that the American e-commerce giant appears to sell electronics for about 15 per cent less than Australian retailers, with goods worth less than $1000 blowing out to 20 per cent cheaper. Sydney Morning Herald – Read more…