NEW YORK :Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn't meet its standards.According to Amazon, Temu, an e-commerce marketplace that launched in September, does not meet its stric
NEW YORK :Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn't meet its standards.
Amazon is wary of engaging in a price war with competitors it does not consider reputable. The company said its qualification standards ensure that it does not compare or match prices against what is sees as merchandise from questionable marketplaces – including products that might be counterfeit. Temu is"not actively involved in the listing and sale of sellers’ items," and vendors are responsible for getting the necessary licenses for their stores, the statement says.
Temu's general merchandise value, or total value of goods sold, has increased from $141.5 million in January to $634.8 million in May, according to YipitData. "If we see pricing practices on a store offer that harms customer trust, Amazon can remove the Featured Offer, remove the offer, suspend the ship option, or in serious or repeated cases suspend or terminate selling privileges," according to Amazon's Marketplace Fair Pricing Policy section on its website.
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