Amazon Avoids EU Fine by Agreeing not to Use Sellers’ Data for Business Gain

On Tuesday, Amazon reached a settlement with the European Union (EU) in three antitrust investigations. As part of the settlement, the company agreed not to use sellers’ data for its own competing retail business or its private label products. This move will save Amazon from facing a potential fine of up to 10% of its global turnover.

The EU launched the investigations in July 2019, citing concerns over Amazon’s use of data from independent sellers on its platform. The settlement reached this week addresses those concerns and allows Amazon to continue operating in the EU without facing any financial penalties.

“We are pleased to have reached a settlement with the European Union,” said Amazon in a statement. “We will continue to work closely with the EU to ensure that our practices meet the high standards that customers expect from us.”

The settlement is seen as a victory for small businesses that rely on Amazon’s platform, as it prevents the company from using their data to gain a competitive advantage. It is also a win for the EU, which has taken a strong stance on protecting the interests of small businesses and preventing large companies from using their market power to dominate the competition.

Overall, the settlement reached between Amazon and the EU is a positive step towards ensuring a level playing field for all businesses operating within the EU.