Amazon to undercut Australian business
- 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.”
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