This will CHANGE how you look at AMAZON
Amazon vs EU. This will change how you look at Amazon. In this video we will look into reports which alleges that Amazon has been unfairly collecting and using data from third-party sellers on its platform.
To understand what customers are interested in, Amazon relies heavily on data. It tracks the time spent by users on the site as well as where they navigated to during their browsing or shopping session. It also monitors what items customers place in their cart and purchase, as well as what wasn’t purchased. By collecting this data, Amazon can then recommend products they believe their customers will want to buy.
The European Union is now taking a very serious look into Amazon’s practices especially when it comes to their usage of data collected. Because these third-party sellers operate on Amazon’s platform, it can see sensitive commercial information on their products such as price and volume. The EU’s top antitrust regulator has opened up a formal antitrust investigation to determine whether or not Amazon is using that data to give its own products an unfair advantage.
#BudgetCreator #AmazonvsEU #TheAmazonStory
There’s already been a report from the wall street journal which indicated that Amazon has been using data collected from independent sellers on its platform to develop competing products, a practice which contradicts the company's policies.
Amazon has also been accused of abusing the ‘Buy Box’ feature on its site. When a customer visits Amazon to make a purchase, the majority of the time they will click the main “Add to Cart” button located near the price. This is the Amazon “Buy Box”. The EU is also keen to find out if Amazon has been unfairly promoting its own products at the expense of third parties.
If Amazon is found guilty of anticompetitive practices, it could be fined up to 10% of its global revenue which is roughly $19 billion. Even for Amazon that would be some serious mula. This isn’t the first time that Amazon has been the subject of an EU investigation. It was ordered to repay 250 million euros back in 2017 over illegal tax advantages it received from Luxembourg, the country of the company’s european headquarters.
Last year, following an investigation of Amazon in Germany, the company reached a settlement with German regulators over its treatment of third-party sellers. In that settlement, it agreed to accept more legal liability in its contracts with sellers as well as cover more of the costs related to returns and reimbursements.
It appears that Amazon may have their hands filled for quite awhile. It was recently reported by the wall street journal and the New York Times that state officials in California and Washington are reviewing Amazon’s business practices to determine whether the company is violating any anti competitive laws. Even if Amazon is eventually found guilty, we can expect an appeal which would take even more time.
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Sources / Credits:
1. https://www.wsj.com/articles/amazon-s...
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https://www.nytimes.com/2019/07/17/te...
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https://retailtouchpoints.com/resourc...
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The footage and images featured in the video were for critical analysis, commentary and parody, which are protected under the Fair Use laws of the United States Copyright act of 1976.