Don’t believe the ‘Amazon taking over Australia’ hype: Merrill Lynch
Lagging infrastructure, sparse population and already well-developed online shopping habits mean Amazon will not upend Australia’s retail sector as some have predicted, Bank of America Merrill Lynch says.
The US-based global e-commerce giant is currently setting up operations in Australia, including warehouses that could be used for its fast-delivery Prime subscription service and grocery delivery product AmazonFresh.
Local retail stocks have been on edge over fears that Amazon, which could be operational by the end of 2018, will steal their customers.
But Bank of America Merrill Lynch analyst David Errington poured cold water on doomsday predictions and said a recent sell-down in retail stocks was unwarranted. Sydney Morning Herald – Read more…
The US-based global e-commerce giant is currently setting up operations in Australia, including warehouses that could be used for its fast-delivery Prime subscription service and grocery delivery product AmazonFresh.
Local retail stocks have been on edge over fears that Amazon, which could be operational by the end of 2018, will steal their customers.
But Bank of America Merrill Lynch analyst David Errington poured cold water on doomsday predictions and said a recent sell-down in retail stocks was unwarranted. Sydney Morning Herald – Read more…
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