From The Sydney Morning Herald:
The head of Wesfarmers says his main competitive threat comes from Amazon, the US-based retail website, rather than rival grocery Woolworths. He would like to keep his physical stores open ‘‘24/7’’ to compete properly with the internet, he says.
Wesfarmers chief executive Richard Goyder also says Australia’s corporate tax rate ought to drop significantly to give local companies a chance to compete with corporations that use global tax havens to avoid paying tax.
Speaking at the National Press Club on Tuesday, Mr Goyder said Wesfarmers – the owner of Australia’s second-largest supermarket chain, Coles – no longer thought its biggest competitor was Woolworths or Big W or ‘‘one of the other physical competitors’’.
. . . .
‘‘I think Amazon is the biggest threat that we’ve got to our business model at the moment,’’ Mr Goyder said. ‘‘[Amazon is] a $150 billion company that finds its competitive advantage through cheap labour, low tax and highly innovative supply chains.
Link to the rest at The Sydney Morning Herald