CBA: Most Australian retailers don’t have a strategy for Amazon | Business Insider

The Commonwealth Bank’s latest Retail Insights research suggests almost 70% of people likely to purchase from the online platform.

But most retailers (78%) don’t have a strategy to combat the global retail giant.

“It seems Australian shoppers are ready for Amazon but many of our retailers are still at the drawing board,” Commonwealth Bank National Manager, Retail, Jerry Macey says.

“Although Amazon’s arrival is reportedly weeks, not months, away, it will have a staged entry. So there is time to put plans in place, but that window is closing. There’s still one quarter of retailers concerned about Amazon who not only don’t have a plan, they aren’t working on one.”

In April, Amazon confirmed its plans to bring its retail offering to Australia, promising to take on retailing in Australia with a “vast selection” and “fast delivery”. And last month it confirmed the opening of a massive fulfillment centre near Melbourne.

Amazon’s sophisticated supply chain operations and its discounted pricing, combined with other offerings like its Prime subscription service which offers faster delivery, have wrought havoc on traditional retailers in other countries, most notably the US and Germany.

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CBA: Most Australian retailers don’t have a strategy for Amazon | Business Insider.