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Amazon to undercut Australian business

Published 11/04/2017, 06:46 PM
Amazon to undercut Australian business
AMZN
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  • Competition laws will permit Amazon (NASDAQ:AMZN) to undercut local businesses with loss-making prices when it opens for business in Australia, which is expected to happen later this month.
  • "If you open a store in a new town and you set a common price point, you are going to lose money initially if you don’t have scale," said ACCC Chairman Rod Sims. "Eventually, if you get your business plan right, you will make that price point, that is in no way illegal."
  • Now read: Early Evidence From Its Whole Foods Acquisition Suggests Amazon Has Not Jumped The Shark

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