Does the arrival of Amazon in Australia spell doom for bricks and mortar stores? If you believe the hype in the media and from big retailers like Harvey Norman and Myers currently, yes. But I disagree- in fact, I believe it presents an opportunity. Here’s why.
Earlier this year Myers announced they had suffered a 80% drop in profits in the last financial year alone. 80%. Interestingly, their sales revenue only fell 1.4% in the same period. So people where still spending the same amount of cash, but their net profit was slashed.
What does that tell you? Continue reading