Channel 7 - Sunrise - Terri Winter discusses future of retail
Following explosive comments by Gerry Harvey about banning Amazon in Australia, I was invited to the Channel 7 studios for a live discussion of the Future of Retail with Monique Wright and Andrew O'Keefe on Weekend Sunrise.
Joining Dominique Lamb (CEO National Retailers Association) and Chris Ridell (Futurist and Digital Expert) I discussed the arrival of Amazon and what it could mean for the future of retail.
WATCH THE EPISODE HERE
It is important to note that Australia has dealt with International competition for many years. Australian Retailers need to be innovative and offer an experience that Amazon cannot. I do believe that the primary concern for the arrival of someone like Amazon is the use of predatory pricing, and although this discussion did not come back to me for further comment in this discussion, I do think the grab for market-share with unsustainable pricing is a concern for independent retailers. Amazon can maintain losses for long periods of time and independent retailers cannot.
Ultimately - it comes down to Australians voting with their credit card. Amazon, and other big global giants, cannot become successful without the support of customers making purchases with them.
Australians need to decide what kind of future they want to see for Australian Retail. In the end it is all of us who decide what the future of Australian retail will look like.
I would like to take this opportunity to thank our regular shoppers, it is because of you that we can continue to thrive. Many many thanks to you all.
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