Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2021 07 22T010624Z 1 LYNXMPEH6L015 RTROPTP 4 AUSTRALIA REGULATOR RETAIL 1 - Business Express
FILE PHOTO: A web page featuring Amazon's Australian URL is pictured in this photo illustration in a Sydney office, Australia, April 20, 2017. REUTERS/Jason Reed/Illustration Photo

Australian regulator to probe Amazon.com, eBay and other online markets


SYDNEY (Reuters) – The Australian antitrust regulator on Thursday kicked off an inquiry into the local units of Amazon.com Inc, eBay Inc and other online markets to ensure fairness in a sector where sales have soared through the coronavirus pandemic.

The Australian Competition and Consumer Commission (ACCC), which previously slapped the world’s toughest content licencing rules on internet giants Facebook Inc and Alphabet Inc’s Google, called for industry submissions.

“Online marketplaces are an important and growing segment of the economy so it is important that we understand how online marketplaces operate and whether they are working effectively for consumers and businesses,” ACCC Chair Rod Sims said in a statement. “We want to be sure that the rules that apply to traditional retail are also complied with in the online context.”

The ACCC inquiry will take submissions until mid-August with a final report due in March 2022. Local representatives of Amazon and eBay were not immediately available for comment.

The ACCC will examine the relationships between large online markets and third-party sellers and shoppers, including competition impacts and handling of data, complaints and reviews.

Amazon has not reached the market dominance in Australia since launching in 2017 that it experiences elsewhere, but still doubled sales in calendar 2020, the ACCC said.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Overall, Australian online purchases jumped 57% in 2020 for a record $50.5 billion spend amid a series of coronavirus lockdowns, the regulator added.

The ACCC said it had received wide-ranging complaints, including the “quality of goods sold on marketplaces, the timeliness of payment remittance to sellers, how goods are put on display on marketplaces, and the level of support provided by marketplaces to consumers when disputes arise”.

The ACCC has been conducting a series of investigations in recent months as part of a broader Digital Platform Services Inquiry.

($1 = 1.3609 Australian dollars)

(Reporting by Byron Kaye; editing by Jane Wardell)

Recent Post: