Amazon's AU scouting mission
The Sydney Morning Herald reported on Amazon's flat entry into the Australian market. Documents lodged with the Australian Securities and Investments Commission show Amazon Australia ran at an $8.9 million loss with just $16 million in sales for the 2017 calendar year. Not quite the retail apocalypse prophesised by much of the media in anticipation of tech giant's arrival Down Under, speculation which put local retailers on edge and played havoc with their share prices. We've always said that stores are Aussie retails' best defense against the online raider, while directly competing with Amazon online is a sure way to put your business under pressure.