Australian retailers are panicking over the launch of Amazon Australia claiming it will create too much competition and do little to boost the Australian economy.

Currently, the only comparable online outlet is Kogan, which sells its own branded products.

Australian retailer Dick Smith, who himself owned an electronics retailer that simply rebranded cheap Chinese products and priced them rather highly, has slammed Amazon claiming jobs will be lost and that the government is powerless. 

Smith spoke to Australian morning television host and financial expert David Koch about the “extreme capatilism” 

“The products are good but there is one reason they are cheaper, they sack people. They do not have as much labour. Tens of thousands will lose jobs.” 

“We will become more obese because food will be cheaper and it will be downhill for Australians.”

Many Australian consumers are praising the introduction of the American giant, citing the need for cheaper goods and their exhaustion at being ripped off by Australian-owned stores.

Amazon will be required to pay GST. 

Amazon Australia has yet to fully launch and is expected to be shipping items and groceries by 2018.

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