FTC investigating allegations of Amazon’s deceptive discounting
The Federal Trade Commission (FTC) has confirmed that it has launched an investigation into allegations of tech giant Amazon’s misleading pricing discounts.
The FTC is looking into the allegations as part of its ongoing review of Amazon's deal to acquire Whole Foods.
The federal agency is looking into a complaint that was brought by the widely famous advocacy group Consumer Watchdog. It filed the complaint after looking at some as many as products on Amazon’s website and finding that the online retailer put reference prices or list prices on 46 per cent of them.
In a letter to the FTC on 6th of July, the group wrote that it found that in 61 per cent of products with reference prices, the online retailer’s reference prices were higher than it had sold the same products in the preceding 90 days.
However, Amazon denied has any wrongdoing. Online markets offer massive discounts at times and in certain products they even face loss for every sale. Amazon has been steadily gaining customer base for its Prime subscription service.
When asked for a comment, Amazon said, “The conclusions the Consumer Watchdog group reached are flat out wrong. We validate the reference prices provided by manufacturers, vendors and sellers against actual prices recently found across Amazon and other retailers.”
The FTC is playing a dual role of investigating charges of deceptive advertising as well as assessing the proposed Amazon-Whole Foods merger. The online retail giant announced in June that it would acquire the grocer for $13.7 billion.
High Content Screening Market Report Deliver an in-depth assessment of the High Content Screening including qualifying Technologies, Key trends, Mark
The Hematology Analyzer Market Report evaluate numerous factors stimulating Hematology Analyzer Industry.
The Heavy Duty Conveyor Belts Market Report evaluate numerous factors stimulating Heavy Duty Conveyor Belts Industry.
The Heavy Construction Equipment Market research report offers a comprehensive assessment of the Heavy Construction Equipment and consists of Historical data, Scope a
The Harmonic Drive Speed Reducers Market Report provides key information about the Harmonic Drive Speed Reducers Market, including Invaluable facts and figures,
The Hardening Machines Market report is source of key information about the Market, including invaluable facts and figures, expert opinions, and the latest developments acros