Ann: International Expansion & Strategic Relationship with Matrix, page-51

APT doesn't need a moat. There is no moat. This is purely a sales exercise. Being an established company with real customer data, APT should be able to convince more stores to use it more quickly. Also having the in-store already developed, there is a more complete solution.

In USA, they would need REI, Dicks and other national retailers to be the market leader.
The game is the same as Australia, only with different brands and a larger market. Other competitors are not really a problem.