THE WHAT? Amazon has been accused by the U.S. Federal Trade Commission (FTC) of employing illegal strategies to increase profits within its online retail business. The FTC alleges that Amazon used an algorithm called ‘Project Nessie’ to raise prices paid by U.S. households by more than $1 billion.
THE DETAILS The lawsuit by the FTC was filed in September, and previously undisclosed details were made public in a less-redacted version in the U.S. District Court in Seattle. According to the FTC, ‘Project Nessie’ was created to identify products for which Amazon anticipated competitors would follow its price increases, allowing Amazon to extract more than a billion dollars directly from consumers.
THE WHY? Amazon’s spokesperson, Tim Doyle, contested the FTC’s characterization, stating that ‘Nessie’ was intended to prevent unsustainable price reductions due to price matching and that the company stopped using it several years ago. The algorithm was initially tested in 2010 to assess whether other online retailers tracked Amazon’s prices and to increase prices for products likely to face competitive tracking. The FTC also alleges that Amazon temporarily suspended the algorithm during significant events like Prime Day and the holiday shopping season and resumed its use when public attention waned.
Buy aesthetic products refers to the act of purchasing items that are specifically designed for enhancing or maintaining beauty, often related to skincare, cosmetics, or procedures in the field of aesthetics. These products can include a wide range of items intended to improve the appearance and health of the skin, hair, and body. Here are some examples of aesthetic products that individuals might purchase:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments targeting specific skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows designed to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Dermatological Treatments: Prescription or over-the-counter treatments for medical conditions like acne, eczema, psoriasis, or rosacea.
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Aesthetic Devices: Equipment used for professional treatments including laser devices, microneedling pens, radiofrequency devices, and IPL (Intense Pulsed Light) machines.
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Injectable Aesthetics: Products such as dermal fillers and botulinum toxin (Botox) used to enhance facial contours, reduce wrinkles, and achieve smoother skin.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
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Home Use Beauty Devices: Devices like facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
