How will Amazon buying Whole Foods affect Australia?

Amazon’s arrival in Australia has become a greater concern to domestic retailers after the online giant revealed plans to buy upmarket US grocery chain Whole Foods.
Amazon has not announced that it will open Whole Food stores in Australia, but investors are assuming the worst. Many believe that the acquisition will help Amazon disrupt the Australian supermarket landscape.
Two main supermarket groups – Woolworths and Wesfarmers-owned Coles, currently duopolies the Australian supermarket sector. Previous to Amazon’s recent news, the industry was thought to be relatively unaffected. The Whole Foods deal will prompt a reassessment of this view.
The Australian consumer staples sector dropped 1-.3 percent on Monday, compared to a 0.3 percent gain for the S&P/ASX 200 benchmark.
Source: [Financial Times]
- Lifetime of Achievement: Tadashi Yanai, CEO, Fast RetailingLeadership & Strategy
- Apple, Walmart bet big on India, but is Amazon scaling back?Corporate Finance
- Consumer spending trends could spell the end of Black FridayLeadership & Strategy
- Meet Vipshop – China’s best and most sustainable employerSustainability
Featured Articles
Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity
On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it
Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist