Holding nearly 70% of commercial sales, Amazon is sued against antitrust in the US

Attorney General Karl Racine’s office filed a lawsuit alleging that Amazon controlled 50 to 70 percent of US commercial sales, driving up consumer prices.
On May 25, Amazon was embroiled in an antitrust lawsuit from Washington, DC. The allegation shows that this e-commerce giant has abused its dominant position in the online retail sector to the detriment of consumers.

The lawsuit, filed by Attorney General Karl Racine’s office, accuses Amazon of controlling nearly 70% of e-commerce sales, leading to high consumer prices. Holding nearly 70% of commercial sales, Amazon is sued against antitrust in the US The complaint was received by the District of Columbia Attorney’s Office, which said: “This online retail platform benefits and is protected by Amazon’s anti-competitive business practices. That leaves consumers vulnerable. do not have access to the best products at the lowest cost”. In addition, Amazon also caused prices across the entire online retail market to increase virtual prices for products sold on Amazon.com as well as on competitors’ online retail sales platforms. Also in the lawsuit, the e-commerce group used methods to prevent third-party sellers on its platform from offering products at lower prices than competitors. Amazon also responded to AFP that sellers set their own prices for the products they offer in Amazon’s stores, and this response contradicts comments made by the Justice Department. This e-commerce group also prides itself on offering the lowest prices with the best selection unlike any other online platform, so Amazon reserves the right not to attach deals to products that don’t have it. competitive price for customers. This lawsuit has Amazon possibly forced to charge higher prices on its e-commerce platform. The lawsuit is intended to block Amazon from anticompetitive practices as well as claims for damages and other penalties. According to eMarketer, Amazon’s e-commerce market share in the US in 2020 is 39.8% and will increase in 2021 to 44.1%, equivalent to the amount of 367.19 billion USD. According to statistics, Amazon’s profit in the first 3 months of 2021 reached 8.1 billion USD, 3 times higher than the same period in 2020. In 2020, the US Federal and State Antitrust Enforcement Agency filed lawsuits against Facebook and Google for allegedly dominating illegal markets.