Email By business reporter Stephen Letts Updated June 02, 2017 11:34:45 Photo: For many retailers Amazon is akin to a “Death Star”. (ABC News) Map: Australia The monolithic online retailer Amazon — well known for devouring anything with a cash register in its path — is set to take a $12 billion bite out of Australia’s retail pie within the next decade.That’s the analysis from the big broking house Morgan Stanley, which has found Amazon’s imminent arrival will have a “profound” impact.With an extraordinary 370 million items stacked on its digital shelves, it is difficult to imagine a retailer that wouldn’t be affected when Amazon sets up shop in Australia.What sort of pressure will retailers be under?It won’t be as totally crushing as existing at the bottom of the Mariana Trench, but it will be intense nonetheless.For many retailers Amazon is akin to a “Death Star”.It has market capitalisation of $US460 billion ($630 billion) with investors still eager to buy its stock at $1,000 a share.It is now twice as large as Walmart, which not so long ago was the world’s biggest retailer.By way of comparison, add the value of Australia’s big listed retailers — Wesfarmers, Woolworths, JB Hi Fi,… Read full this story
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