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The Federal Trade Commission (FTC) revealed that Amazon is facing a new problem after the mega-online store was revealed to have used a range of illegal tactics to boost profits, including an algorithm that raised the price offered to consumers by more than $1.55 billion.
According to the FTC, the average fee charged by Amazon to sellers who use its fulfillment services increased from 27% in 2014 to 39.5% in 2018.
Amazon spokesman Tim Doyle responded that the FTC had “grossly mischaracterized” the pricing tool and that the company had stopped using it years earlier.
(Source: ChannelNews Image source: Freepik)
