Money Retail shares are under pressure as Amazon launches

13:37  06 december  2017
13:37  06 december  2017 Source:   Business Insider Australia

Kogan says Black Friday netted $4 million: Do longer festive sales suit Aussie shoppers

  Kogan says Black Friday netted $4 million: Do longer festive sales suit Aussie shoppers The first numbers from Australian retailers’ Black Friday sales events are filtering through, with the founder of electronics site Kogan.com saying it broke sales records when jumping on this year’s campaign, netting $4 million.Ruslan Kogan tweeted the figure on Saturday morning, congratulating the Kogan.com team for their work on the event, which has also acted to kick off the Christmas sales programs of a variety of local brands.Record breaking Black Friday. $4M sales. So proud of the @Kogan Team! pic.twitter.

Shares retailers first dipped, and then recovered, after the official launch of Amazon in Australia. In early trade, Harvey Norman was down 1% to .96, Super Retail 1.1% to .90 and JB Hi-Fi 0.5% to .96.

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Amazon Australia's launch could be delayed until next year

  Amazon Australia's launch could be delayed until next year At a recent industry event in Melbourne, the official launch date of Amazon Australia was again speculated on and the news isn't good for Christmas shoppers. According to market research firm Kantar Retail, we could be in for an even longer wait than we thought. By most reports, Amazon Australia seemed like it would launch in time for Black Friday. The biggest sales day of the year came and went and still, we couldn't access Amazon's Australian site.We've received word that Amazon was planning to go live on November 24, but a few technical hiccups got in the way, forcing the launch to be postponed.

Find the latest news, headlines, blogs and video about retail , consumers, shopping and retail companies from CNBC.com. Wall Street is giddy over Amazon shares , gets its most bullish call yet: ,500 price target.

of the launch , adding that Australia was an “attractive market where online is under -penetrated”. Retail categories most likely to be hurt by Amazon ’s entry include electrical, appliances initially to boost its market share , IBISWorld senior analyst Kim Do said, pressuring the profitability and

Shares retailers dipped in early trade after the official launch of Amazon in Australia and ahead of the release of retail sales data.

Harvey Norman was down 1% to $3.96, Super Retail 1.1% to $7.90 and JB Hi-Fi 0.5% to $23.96.

The US-based retail giant Amazon today launched its full retail offering, with hundreds of thousands of discounted goods and one-day delivery, on its Australian website.

Australia’s October retail sales report is due to be released today. 

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Amazon adds support for Spotify with multiroom audio on Echo devices .
Amazon announced today that it’s adding support for Spotify and SiriusXM to the multiroom audio feature on Echo devices, letting users synchronize music across multiple rooms. Amazon launched the multiroom audio feature earlier this year, supporting Amazon Music Unlimited, TuneIn, iHeartRadio and Pandora. But now, as Amazon promised back in August, Spotify (and SiriusXM, if that was a deal-breaker for you) will work with multiroom playback, too. For now, Spotify is only available with multiroom audio on the Echo in the US, UK, Germany, Canada, and Ireland, while SiriusXM is only in the US.

Source: http://au.pressfrom.com/news/money/-48677-retail-shares-are-under-pressure-as-amazon-launches/

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