Retailers' Subscription like Prime and Walmart+ Under Scrutiny, FTC To Review Alleged Malpractices
Portfolio Pulse from Anusuya Lahiri
Retailers' subscription programs, including Amazon Prime, Walmart+, and Best Buy, are under scrutiny by the FTC for alleged malpractices. The FTC has booked Amazon for allegedly duping consumers into purchasing Prime subscriptions, while Walmart and Best Buy face charges for deceptive subscription practices.
June 23, 2023 | 12:24 pm
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NEGATIVE IMPACT
Amazon faces FTC scrutiny for allegedly duping consumers into purchasing Prime subscriptions.
The FTC's investigation into Amazon's alleged malpractices in selling Prime subscriptions could lead to potential fines, legal actions, and reputational damage, which may negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Best Buy faces a complaint for automatically enrolling customers in two subscription programs without an option to cancel online.
The complaint against Best Buy for automatically enrolling customers in subscription programs without an option to cancel online could lead to fines, legal actions, and reputational damage, which may negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Walmart faces charges for deceptive subscription practices, including automatically charging customers after a free Walmart+ trial.
Walmart's alleged deceptive subscription practices could result in fines, legal actions, and reputational damage, which may negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100