Sep 24, 2017 Last Updated 2:27 PM, Sep 22, 2017

New Entry From the Editor :

Rio Tinto commits further $3.15 billion to shareholders in buyback programme

Rio Tinto commits further $3.1…

AusBN - Rio Tinto has announced it will distribute a further AUS$3.15 billi...

BHP surges back to profit thanks to increased prices and improved productivity

BHP surges back to profit than…

AusBN- BHP demonstrated a strong financial performance for the last fiscal ...

Toys R Us to trade as usual in Australia despite filing for bankruptcy

Toys R Us to trade as usual in…

AusBN - Toys R Us has confirmed it will continue to operate as normal in Au...

Amazon to arrive in Australian retail market for Christmas – Citi analysts

Amazon España por dentro San Fernando de HenaresAUSbnAusBN - Analysts at global banking group Citi have suggested that Amazon could launch in Australia within two months, in a blow to several existing major retailers in the saturated national retail market.

The US retailing giant confirmed it would be arriving in Australia in April after purchasing a warehouse in Melbourne and appointing German executive Rocco Braeuniger as country manager for Australia.

Retail analyst at Citi Brian Raymond confirmed that the company has set buying terms and first orders have been placed with suppliers in recent weeks.

In a further statement, Citi said it expects Amazon’s prices to be competitive at first, as it will not have a meaningful advantage in two of their three key pillars, range and delivery, which will evolve later over time.

“This increases near-term gross margin risks for retailers as price will be Amazon’s key lever,” said Citi.

Current national retailers expected to lose out if Amazon does arrive before Christmas include JB Hi-Fi, Harvey Norman and Myer.

@AusBNOnline

This Month's Issue

AusBN Vol3 Iss1

Subscribe

rgn web banner

abn web banner

Recent Tweets