Amazon, Shein and Temu continue to take share of Aussie consumer wallet, says Macquarie

Harvey Norman Holdings

31/01/2025 03:05

** Analysts at Macquarie say e-commerce players like Amazon
 AMZN.O , Shein and PDD  PDD.O -owned Temu are continuing to
take both earnings and market share off Australian consumer
sector
    ** Says the market share grab by Amazon, Shein and Temu is
dilutive to the Australian system
    ** Expects discretionary spend to face headwinds locally in
the near term as cost-of-living pressures persist, unemployment
rises amid a broader uncertainty before the federal elections in
May
    ** Brokerage prefers retailer Coles  COL.AX  among the
consumer sector, expecting the firm to benefit from supply chain
disruptions at larger rival Woolworths  WOW.AX  
    ** COL down 0.3% while WOW up 0.2%
    ** Also prefers non-essential retailers like Harvey Norman
 HVN.AX  and JB Hi-Fi  JBH.AX  
    ** Brokerage least prefers pizza maker Domino's  DMP.AX  and
pub owner Endeavour  EDV.AX  


 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))