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Showing posts with the label Amazon

How Amazon raised prices to profit from the pandemic

 by Alex Harman Part 2 - Introduction   As the coronavirus COVID-19 pandemic took hold in the United States in late February / early March 2020, reports of product shortages, hoarding, and massive price increases soon arose. And once the pandemic response moved from emergency declarations to stay-at-home orders, the public increasingly turned to online shopping and delivery.    Amazon, which is by far the biggest online seller in the world, experienced a dramatic increase in revenue. But prices also spiked on Amazon, leading to accusations of price gouging on its online marketplace. Amazon responded by blaming the skyrocketing prices on unscrupulous third-parties that sell on its website. By taking a public stance against price gouging, Amazon portrayed itself as an unwitting victim.   Amazon claimed that it took several steps to curb price gouging. These steps included cooperating with law enforcement to identify third-party sellers engaged in price gouging, shutting down accounts