When I arrived in Australia in 1994, one of the most noticeable differences between the sharemarket in London and the sharemarket in Australia was the food retail sector. And it hasn’t changed.
In London, you are spoilt for choice. At any one time within an 8km radius in central London you could find a Sainsbury’s, ASDA, Aldi, a Co-Op, Marks & Spencer, Morrisons, Spar, Tesco and a Waitrose – let alone an Iceland, a Costcutter, Mace, Londis or Lidl.
It’s the same in the UK bank sector. They have consolidated a bit since my day, but you now have Lloyds, HSBC, Barclays, National Westminster Bank, Royal Bank of Scotland, Standard Chartered, the Allied Irish Bank, the Bank of Ireland, Citibank, Clydesdale Bank, Bank of China, Yorkshire Bank, Harrods Bank, Sainsbury’s Bank, Tesco Bank and Co-operative Bank – not to mention Bank of India, Punjab National Bank, Danske Bank, Industrial Commercial Bank of China and Bank of Baroda. Plus some others.
Come to Australia and go shopping for food. Here Woolworths, Coles, Aldi and Metcash account for 80% of the food retailing sector and the big four banks account for 76.4% of all mortgage lending. From the point of view of an English immigrant, such dominant market share is an aberration, and at the same time surely a fabulous investment. Essential services, dominant market share, little competition. What on earth is going on?
Diese Geschichte stammt aus der August 2023-Ausgabe von Money Magazine Australia.
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Diese Geschichte stammt aus der August 2023-Ausgabe von Money Magazine Australia.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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