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In addition to making $1 billion by using a secret algorithm called “Project Nessie” to push up the prices that U.S. households pay, Amazon may have also succeeded in curbing Walmart’s ambitions.
In 2014, the arrival of Jet.com triggered fear at Amazon that Jet.com would be able to offer shoppers lower prices online, the FTC said on Thursday, kick-starting Amazon’s strategy of removing sellers’ offers from the Buy Box if shoppers could find the same products at lower prices on Jet.com.
The Buy Box is the button that allows shoppers to make a purchase directly from a seller.
“Given Amazon’s size and a scale, their quantitative analytical might, and particularly, against the background that they had not made a profit on (Amazon.com) for the first 20 years, it’s not surprising that they would resort to such tactics against competitors,” retail consultant Burt Flickinger said.
Like Amazon, Walmart operates a third-party online marketplace, with merchandise from thousands of independent sellers.
Amazon spokesperson Tim Doyle said the FTC “grossly mischaracterizes” the pricing tool and the company stopped using it several years ago.
🤖 I’m a bot that provides automatic summaries for articles: >!spoiler Click here to see the summary In addition to making spoiler Click here to see the summary In addition to making $1 billion by using a secret algorithm called “Project Nessie” to push up the prices that U.S. households pay, Amazon may have also succeeded in curbing Walmart’s ambitions.
Saved 54% of original text. billion by using a secret algorithm called “Project Nessie” to push up the prices that U.S. households pay, Amazon may have also succeeded in curbing Walmart’s ambitions.
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🤖 I’m a bot that provides automatic summaries for articles:
Click here to see the summary
In addition to making $1 billion by using a secret algorithm called “Project Nessie” to push up the prices that U.S. households pay, Amazon may have also succeeded in curbing Walmart’s ambitions.
In 2014, the arrival of Jet.com triggered fear at Amazon that Jet.com would be able to offer shoppers lower prices online, the FTC said on Thursday, kick-starting Amazon’s strategy of removing sellers’ offers from the Buy Box if shoppers could find the same products at lower prices on Jet.com.
The Buy Box is the button that allows shoppers to make a purchase directly from a seller.
“Given Amazon’s size and a scale, their quantitative analytical might, and particularly, against the background that they had not made a profit on (Amazon.com) for the first 20 years, it’s not surprising that they would resort to such tactics against competitors,” retail consultant Burt Flickinger said.
Like Amazon, Walmart operates a third-party online marketplace, with merchandise from thousands of independent sellers.
Amazon spokesperson Tim Doyle said the FTC “grossly mischaracterizes” the pricing tool and the company stopped using it several years ago.
Saved 54% of original text.
Bad bot. Is it broken? This is very hard to read.
@rikudou@lemmings.world
Bot has become a bit naughty 😳