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01-12-2017, 07:38 AM
Amazon fined $1 million for misrepresenting savings to customers in Canada
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Amazon has agreed to pay a Canadian regulator $1 million to cap a two-year investigation into claims that the site misled customers about how much money they were saving.
The case concerned a sales tactic in which Amazon compared its own price on a given item to a higher "list price" to suggest a bargain.
SEE ALSO: Alibaba just launched its first major effort to ***** down on counterfeit goods (http://mashable.com/2017/01/04/alibaba-counterfeit-lawsuit/)
But the probe by Canada's competition bureau found that those "list prices" came from Amazon's suppliers, and the e-commerce giant didn't bother to verify that they matched prevailing market rates.
Amazon has already taken steps to ensure that market prices listed on its Canadian site are **w vetted, the group said. Read more... (http://mashable.com/2017/01/11/amazon-canada-settlement-pricing/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
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Amazon has agreed to pay a Canadian regulator $1 million to cap a two-year investigation into claims that the site misled customers about how much money they were saving.
The case concerned a sales tactic in which Amazon compared its own price on a given item to a higher "list price" to suggest a bargain.
SEE ALSO: Alibaba just launched its first major effort to ***** down on counterfeit goods (http://mashable.com/2017/01/04/alibaba-counterfeit-lawsuit/)
But the probe by Canada's competition bureau found that those "list prices" came from Amazon's suppliers, and the e-commerce giant didn't bother to verify that they matched prevailing market rates.
Amazon has already taken steps to ensure that market prices listed on its Canadian site are **w vetted, the group said. Read more... (http://mashable.com/2017/01/11/amazon-canada-settlement-pricing/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
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