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Amazon declares war against counterfeit

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Amazon declares war against counterfeit
October 23
09:00 2019

The world’s largest online retailer Amazon.com Inc. has faced an unexpected problem. The pioneer of e-commerce has been recently criticized. It should be noted that criticism can hardly be called unreasonable… The fact is that it is quite easy to buy counterfeit, expired and dangerous products on the platform. The authoritative publication The Wall Street Journal has published on its pages a sensational study that describes how exactly Amazon sells thousands of goods that are prohibited by federal authorities.

Jeff Wilke, Amazon’s CEO Worldwide Consumer, said the company is taking responsibility and is ready to invest billions of dollars to track such products.

The management of the Internet giant realizes that if they do not monitor the safety of the products sold, the company will lose the trust of customers, which will ultimately affect financial results. Currently, about five thousand employees are involved in goods control issues. The department’s budget (including technology costs) is about $ 400 million.

This is not the only problem of Amazon. In summer, the European Commission initiated the start of an antitrust investigation. Regulators are confused by the dual nature of the company (Amazon is both a platform and a retailer) and a possible violation of the EU competition rules. In the United States, the company’s operations have also become the subject of antitrust investigations.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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