FTC, 17 States Sue Amazon for ‘Exploiting Its Monopoly Power’
Amazon has been sued by the Federal Trade Commission and 17 states’ attorneys general, alleging anticompetitive practices that hurt consumers and marketplace sellers. The complaint outlines how Amazon has used punitive and coercive tactics to maintain its monopolies, resulting in higher prices and degrading service for millions of American families and businesses.
Amazon’s tactics include replacing organic search results with paid advertisements, prioritizing its own products over superior ones, charging sellers steep fulfillment and other fees, and implementing “anti-discounting measures.” The FTC and states are seeking a permanent injunction to prohibit Amazon from engaging in its unlawful conduct and restoring competition.
Amazon general counsel David Zapolsky maintains that the company’s moves have fostered competition and accused the FTC’s focus of radically departed from its mission of protecting consumers and competition.
To read the full article, visit the Retail Drive Website.
The 10 Biggest Business Trends For 2024 Everyone Must Be Ready For Now
The global economic downturn is expected to worsen, leading companies to be cautious about investing in new ideas in 2024. However, significant technological and societal trends are expected to drive innovation and investment. As we understand technology, such as artificial intelligence, we will gain new perspectives on what makes us human, reflecting the theme of this year’s predictions.
The 10 Biggest Business Trends for 2024 include:
- generative AI everywhere,
- soft skills and the human touch,
- skills solutions,
- sustainable business,
- personalization-at-scale,
- the data economy,
- the customer experience revolution,
- remote and distributed work,
- diversity and inclusivity,
- resilience.
To read the full article, visit the Forbes Website.
Acme United Corporation Acquires the Assets of Hawktree Solutions, Inc.
Acme United Corporation has acquired Hawktree Solutions, a supplier of first aid and survival kits, medical supplies, and training. The acquisition, valued at around $1.0 million, is expected to be accretive starting in Q4 2023. Hawktree Solutions will expand its product line to focus on natural disasters, with the aim of working closely with the Canadian Red Cross.
To read the full article, visit the Markets Insider Website.
Walmart, Target follow Amazon with early start to holiday sales
Walmart, Target, and Best Buy have announced early holiday shopping deals ahead of Black Friday and Cyber Monday. Walmart’s Walmart Deals – Holiday Kickoff will run from October 9 to 12 and feature online deals on electronics, home, fashion, and toys. Target’s Target Circle Week will return from October 1 to 7, offering deep discounts on thousands of items, with Target Circle members getting up to 40% off. Best Buy’s holiday sneak peek will include a 48-hour flash sale on TVs, laptops, headphones, and smartwatches.
To read the full article, visit the Retail Drive Website.
Small Businesses Embrace Digital Payments
A Visa survey revealed that small and micro-businesses are increasingly adopting new payment tools as part of their international expansion strategies. Over 35% of business owners surveyed said they are considering accepting new forms of payment as a critical way to improve their businesses. About 95% of small business owners planned to become cashless “someday” and 51% anticipate going cashless in the next two years.
To read the full article, visit the Retail Drive Website.
