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

Nirvik Singh, COO Grey Group on adding colour to campaigns

Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity

How Longi became the world’s leading solar tech manufacturer

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

How Samsung’s US$5billion sustainability plan is working out

Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist

UOB: making strides in sustainability across Southeast Asia


Huawei smartwatch goes for gold with Ultimate Edition


How IKEA India plans to double business, triple headcount

Corporate Finance