Image Source: Emerging Europe
Amazon customers in the UK may be eligible for a portion of £900 million in compensation once a lawsuit is filed.
According to the proposed claim, the corporation allegedly violated competition law, leading to higher customer prices.
Julie Hunter, a consumer rights advocate claims that items sold on Amazon.co.uk and the Amazon app concealed better deals.
The “buy box” offers account for over 80% of the purchases completed on the website.
Ms. Hunter claims that independent merchants are not included in the buy box, a clear violation of EU and UK laws.
Surveys show that two-thirds of UK consumers use Amazon at least once each month. Nine out of ten shoppers in the country have used Amazon.
According to Ms. Hunter, Amazon uses deceptive design strategies to influence consumer toward the features in its buy box.
Most consumers trust Amazon and believe it to be the best deal, only consider this featured offer.
The lawsuit will be launched in London’s Competition Appeal Tribunal and will seek £900 million in damages.
Who is qualified for the compensation?
Anyone in the UK who has made purchases on Amazon.co.uk or the Amazon mobile app since October 2016.
Consumers, on whose behalf the class action is initiated, won’t be required to pay any costs or fees.
Additional inquiry into Amazon
Amazon is the subject of two official antitrust probes by the European Commission.
The commission’s early conclusion was that Amazon’s retail company and sellers were favored by the criteria for the buy box.
Read Also: Apple and Amazon’s earnings up amid rising prices
It is presently assessing Amazon’s promises made to alleviate these worries.
The Competition and Markets Authority (CMA) declared in July 2022 that it looked into Amazon’s business practices. Shortly afterwards, the European Commission announced its probe.
Jeff Bezos of Amazon issues an economic alert
Jeff Bezos, the founder of Amazon, has joined his voice to the chorus of those warning that the US economy will face difficulties in the future.
The billionaire claimed on social media that the state of the economy was a warning to “batten down the hatches.”
Growth has shrunk for two consecutive quarters in the US, a development that is regarded as a recession in other countries.
Many experts anticipate a further slowdown, in light of the US central bank raising interest rates to combat increasing prices. US President Joe Biden was compelled to address the matter due to the constant uproar of worry.
A group of economists in the US is tasked with announcing the official beginning and conclusion of recessions. Along with the gross domestic product, they consider several other factors when concluding.
Mr. Biden has attempted to argue that the slowing in economic activity is a healthy change ahead of the midterms.
As inflation continued to rise above the 2% target, hitting 8.2% last month. Optimism that policymakers can address the problem without causing a severe downturn has reduced.
