AS AMAZON commences commercial trials of its online marketplace in Australia, one of Brisbane’s young entrepreneurs has urged retailers to take a “first mover” advantage with the platform to get ahead of their bigger competitors.
Ryan Murtagh, founder of Neto and recipient of the 2017 Brisbane Young Entrepreneur Trailblazer award, says Amazon’s arrival will open up huge opportunities for small business in the retail space.
It’s been estimated that Amazon’s entry is expected to help the online shopping industry in Australia grow at an annualised 13.5 per cent over the next five years to reach $20.1 billion.
Right now, Australian online sales account for around 7.4 per cent of total retail spending, but by 2022-23 this figure is expected to reach 15 per cent.
Murtagh’s company, Neto, is backed by Telstra and specialises in preparing retailers to go into marketplaces like Amazon and eBay, and ensures their back office and inventory systems are streamlined to get the most out of online shoppers.
Business News Australia spoke to Murtagh about the impact of Amazon, what products will dominate on the platform, and what small businesses should do to prepare for the online giant’s arrival. Read more
David Simmons – Business News Australia – 23 Nov 2017