Amazon has been quietly operating in Australia for almost two years, so quietly in fact that its launch Down Under has been largely perceived as unsuccessful.

But the world's largest internet company does not do business by halves, and its "soft launch" is strategic, with Amazon set to replicate strategies that have made it successful in other markets, a report by global financial services firm Morningstar outlines.

When Amazon launched its local domain across the Tasman, analysts watching its expansion closely were surprised by the limited catalogue of product made available, and the lack of impact it was anticipated to

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