FILE PHOTO: The Amazon Books store is seen in the Time Warner Center at Columbus Circle in New York City, New York, U.S., May 25, 2017. REUTERS/Shannon Stapleton/File Photo
SYDNEY/SAN FRANCISCO: Since Amazon.com Inc said in late April it would bring its Marketplace for third-party sellers to Australia, shares of leading bricks-and-mortar retailers have tumbled on fears their growth prospects would be hit.
More than US$3 billion (RM1283bil), or over 4%, has been wiped off the collective market value of six companies – Wesfarmers Ltd, Woolworths Ltd, JB Hi-Fi Ltd, Harvey Norman Holdings Ltd Super Retail Group Ltd and Myer Holdings Ltd – and Morgan Stanley analysts predict Amazon's entry will knock 2%-15% off what their annual sales would have been by 2026.
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