Australian retailers rally as Amazon gets cool reception
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Sydney
AMAZON.COM's Australian arm took its first orders on Tuesday, ending the suspense over its opening date and sending retail stocks higher amid complaints of limited product range and uncompetitive prices on the US e-commerce platform.
The cool reception suggests the US$550 billion newcomer will need to trim its margins and ramp up stock selection in the world's No 12 economy, and eased the market's worst fears about its potential to devastate brick-and-mortar incumbents.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
