I’m not the kind of person that usually looks forward to a big corporation like Amazon Australia entering the market. I’m one of those people that likes to support the small guy.
I refuse to buy milk for $1 a litre from the big guys, because I can see that the intention is to force out competition so that they can monopolise the market and then charge what they want.
I think that kind of corporate behaviour is unethical. This not just because of its impacts on producers and smaller businesses. But, because it targets the poorest in our society to help force out competition. And, then screws them over once the market is monopolised and prices go up as a result.
However, I did find myself excited about the proposed landing of Amazon in Australia. I was particularly excited about Amazon’s plans to offer similar products to those already available for 30% less.
I do believe that the Australian market is quite overpriced in a lot of ways; even though wages and conditions are substantially higher here than in a lot of other Countries. So, my first thoughts were that Amazon would be a good thing for consumers as we could save $$$.
And, then it dawned on me that Amazon is not just a big corporation. It is a huge corporation with plans of “world domination” and intentions to “destroy the retail market in Australia”. Such statements remind me of an exchange of bravado between Donald Trump and Kim Jong-Un… So, I’m starting to get a little less excited about Amazon landing in Australia.
I’m also concerned about its impact on the local retail job market and performance of traditional ASX Blue Chip stocks. I’d be excited about investing in Amazon, but its renowned for being a high revenue, low profit (and therefore dividends) company due to its global pursuit of dominance… So, I’m not really excited about that option either.
As a result, I’m not sure how I feel about Amazon arriving in Australia. I don’t know whether to be excited or concerned… I think I’m a bit of both.
What about you? Are you a fan of Amazon, and looking forward to its arrival in Australia? Or, are you concerned about its impacts?