How will Amazon buying Whole Foods affect Australia?

By Wedaeli Chibelushi

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]


Featured Articles

Top 10 best-performing Australian companies: mines to banks

Among Australia’s largest companies by market cap are the country’s Big Four banks, a tech startup that successfully scaled, and two firms with female CEOs

Top 10 richest Southeast Asia: how they made their fortunes

From Singapore’s paint tycoon to Malaysia’s sugar king, we round up the 10 richest people in Southeast Asia – and investigate how they made their billions

Will moonlighting ever become accepted practice in India?

While not a new phenomenon, moonlighting has become a hot button issue across India with IT majors cracking down on it. Will the practice ever be accepted?

New YouTube CEO Neal Mohan joins surge of Indian-origin CEOs

Leadership & Strategy

Ex Infosys President Ravi Kumar is the CEO Cognizant needs

Leadership & Strategy

How India is bucking the global dealmaking downturn

Corporate Finance