We’ve witnessed the first two stages of grief – denial and anger – via the media’s responses to Amazon’s decision to descend upon Australia – ‘Amazon no threat to Australian retail‘ (The Australian); ‘Amazon will eat our breakfast, lunch and dinner‘ (SMH) and ‘Amazon to destroy Aussie Retail‘ (news.com.au).
Amazon’s Australian market entrance will not be like H&M’s or Masters’ – instead, they will probably stock the exact same products you do (and more), and will surely not require users to enter their postcodes to view their (very) attractive prices.
There is no ‘bargaining’ with Amazon (the third stage of grief) so let’s just get straight to acceptance: Amazon will not be a threat to online business; Amazon will be a threat to every business. This is because they won’t do ‘Omni-channel’ – they will execute ‘every-single-channel’.
So what does this mean for you?
This is an opportunity to take online more seriously. In comparison to the rest of the world’sÂ online retail as a percentage of total retailÂ (retailresearch.org): the EU averages 9.4%; the US 13.9%; theÂ UK 16.8%; while Australia lags far behind at just 6.8%. That’s what it looks like now, but this is about to change, fast.