Amazon Retail Threat Is Real To Woollies CEO | Interview by Peter Ryan ABC

Amazon Retail Threat Will Destroy Jobs In Australia.

Amazon retail threat will disrupt retailing in Australia as it has in the US. So why is the government subsidizing employers to train young people in retail sales?

Amazon Retail Threat

 

Mr Banducci was pressed by the ABC on Amazon’s disruptive potential for traditional retailers as the online giant prepares to unleash in Australia later this year.”Amazon is obviously a very material potential competitor in this space,” Mr Banducci said.”Customers are looking for a lot more convenience in the way they shop. Amazon and many others are of course going to provide that convenience if we don’t.”Mr Banducci urged against complacency in relation to Amazon as he unveiled a full-year profit of $1.5 billion — a big bounce back after last year’s loss of $1.2 billion due to write-downs of the failed Masters hardware chain.One of the Woolworths businesses most exposed to online competitors such as Amazon is the Big W chain, which made a loss before tax of $150.5 million.

Source: Woolworths CEO Brad Banducci aware of Amazon retail threat – ABC News (Australian Broadcasting Corporation)

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Summary
Woolworths in profit rebound but worries about Amazon.
Article Name
Woolworths in profit rebound but worries about Amazon.
Description
Woolworths like other retailers is also watching the arrival of Amazon closely. Catherine Wood, chief executive of the US-based advisers Ark Invest focuses on nothing but disruptive innovation in America. Ms Wood spoke with the ABC's Peter Ryan.
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Publisher Name
ABC
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