Swedish CEO: Amazon is expanding to Sweden within 12 months – “Then we’re all dead”

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Swedish CEO: Amazon is expanding to Sweden within 12 months – “Then we’re all dead” Follow @BiNordic
Tom Turula 24 Oct 2017 5:12 PM 6705

Nicklas Storåkers’ Pricerunner had a revenue of roughly $12 million (SEK 100 million) in 2016 (photo from 2006).
Patrick Sörqvist / SvD / TT
Amazon is rumored to be establishing itself in Sweden soon.

Nicklas Storåkers, CEO of comparison site Pricerunner, says that when it happens, no e-commerce players in the country stand a chance.
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One of the hottest topics in Swedish e-commerce right now, is when – not if – Amazon will establish itself in the country. Citing two sources from the top echelons of Swedish tech, Swedish tech site Breakit now reports it will likely happen in the next year.
Nicklas Storåkers, the CEO of comparison site Pricerunner and previously CEO of online bank Avanza, cites a “reliable but informal” source, who yesterday confirmed to him that Amazon has decided to launch in Sweden – and very soon.
Storåkers commented the unconfirmed rumors at Retail Tech Stockholm today.
“You don’t just buy three pieces of real estate in Eskilstuna, Västerås and Katrineholm,” Storåkers said, referring to cloud provider Amazon Web Services’ (AWS) recent investment that effectively established Sweden as one of Amazon’s data “superregions”.
“All e-commerce players will become slaves under Amazon”

Amazon has this year already opened an AWS office in central Stockholm, in addition to buying the local domain name Amazon.se. Exactly when Amazon would be making its online services available in Sweden Storåkers didn’t want to comment.
“I didn’t get any report about it, but we are counting it happening in the next 1 to 12 months,” Storåkers said, adding that it’s difficult to guess the exact date.
Storåkers pointed out that the arrival of Amazon, the world’s sixth most valuable company, could have major repercussions for the country’s e-commerce scene.
So what happens if Amazon arrives?
“Then we’re all dead. All e-commerce players will become slaves under Amazon, and there will be no space left for us. That’s how you should think,” he said at the event, adding that Amazon today has 40 percent of the U.S. market, with a fifth of them being Prime-customers.
Storåkers believes it will take some time for Amazon to set up a logistics warehouse network; something that could be temporarily aided by distribution from its German operations.
Breakit’s other source is Staffan Mölndal, a partner at Swedish VC firm Verdane Capital, who, like Storåkers, refers to a “credible” source confirming Amazon’s arrival in Sweden.
“It will have different consequences for different players. [But already] share prices have fallen for many [players]. E-commerce companies will see declining valuations,” Mölndal said.
Another tech profile, who is not as pessimistic about Amazon’s likely arrival is Susanne Najafi, the co-founder of investment company Backing Minds.

 

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