It’s Amazon fever today:
1. So Amazon Australia is finally here. After years of being a bookshop, the site opened as a general store this morning with products in 23 different categories, ranging from electronics to clothes to homewares. Australia is now the 14th country that Amazon is running full-service operations in.
2. The delivery rates seem to be pretty good. Although rapid shipping costs vary according to whether you live in an eastern capital or a more remote area, everyone gets delivery for free if they spend over $49 and don’t mind waiting 3 to 7 days for the goods to arrive.
3. The early reviews of prices are mixed – but it is only the first day. Morgan Stanley certainly wasn’t impressed, saying Amazon will not be disruptive to local retailers, at least in the short term. We did our own digging into some of the prices and while there is money to be saved on some items, the shipping cost can really swing Amazon or a local retailer in the customer’s favour.
4. Amazon has arrived just in time for peak shopping season, because most of us leave it until late. Australian startup Sendle revealed the delayed launch of Amazon will not impact it too much, as it has found one-in-three Australians will leave their Christmas shopping until the weekend of December 16 and 17. Sendle co-founder James Chin Moody and Xero Australia boss Trent Innes both also had some sage advice on how local retailers can survive in the post-Amazon world. Read more here.
5. A Sydney software company has seen its share price jump 80% since its IPO in June. Elmo Software, which raised $25 million when it floated on the ASX five months ago, is now at $3.59 per share – compared to its $2 IPO price. The company has since used some of that money to acquire two startups also in the human resources software industry, and has reported a 36% increase in revenue for the 2017 financial year. Read more here.