As U.S. retailers know, the Amazon Effect is a very real thing. As the Seattle-based company continues to expand in unexpected (and inevitable) directions, industries are forced to react and enact new strategies at breakneck speeds—or face certain doom. The hardest hit industry is, of course, retail. Stores and brands continued to over expand themselves for years only to have to quickly reverse course, close stores, and firm up their online/ecommerce platforms.
Until recently, though, the mantra of Amazon’s impact on retail had been relegated to the area between the East and West Coasts of the U.S. Now, according to a recent report by the Wall Street Journal, investors far from our own shores are finding themselves reacting to Amazon’s expanding reach, dumping shares of retailers around the globe.
“Virtually every retailer needs to assume Amazon is coming for them,” Eddie Perkin, chief equity investment officer at Eaton Vance Investment Managers, told the Journal. “What companies and investors thought were immune categories have turned out not to be immune.”