Two Goldman Sachs executives talk about the different measures of success in e-commerce, and why the marriage between bricks and mortar and online could be where the success lies, although it all depends on the vertical and the product.
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Prinitha is the Editor of Power Retail. She has an editorial background in digital and newspaper publishing, news and sports presenting, as well as PR in politics. Prinitha is passionate about fashion, lifestyle, health and wellbeing, loves adventure and enjoys a bit of retail therapy to complement her personal style.
While Amazon buying Whole Foods Market doesn’t directly affect Woolworths, it does however highlight a very real threat posed to it when Amazon spreads its wings further in Australia in coming months.
Australian fashion and accessories retailer Oroton has announced it is considering selling the company or raising capital following approaches from potentially interested buyers.
Australian online shoppers have been given a 12-month reprieve from paying GST on items purchased from overseas retailers under the value of $1,000. One retailer says our politicians have been talked into delaying the tax by international retail giants like Amazon.
Last week shockwaves went through the grocery retail sector when Amazon purchased organic food chain Whole Foods Market. “Dreams can be powerful things,” says Whole Food’s CEO John Mackey.
Walmart will pay $310 million to buy fashion e-commerce brand Bonobos. It’s clothing, however, won’t be sold in Walmart stores, but instead made available on its online marketplace Jet.com. Walmart will also learn from Bonobos.
On Friday, Amazon announced it will purchase US based organic and natural foods chain Whole Foods Market for US $42 per share valued at approximately US $13.7 billion in an all-cash transaction.
As assortment of Ikea products from lamps, furniture and a mix of homewares are now available for sale on Amazon, with most of its merchandise available to Prime members with two-day free shipping.
International sportswear brand Nike says it will slash roughly 1,400 jobs, as part of a strategy to expand its direct to consumer sales online, as e-commerce continues to shake up the retail sector of the global economy.
Australian online retailer Klika says it welcomes Amazon’s entrance in Australia, and believes that while the world’s largest retailer will grow the local online retail pie, Klika will undoubtedly reap some benefits of that.