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More brands are leaving Amazon, but the strategy could backfire - TL;DR CNBC

More brands are leaving Amazon, but the strategy could backfire

Publishing timestamp: 2020-01-10 14:07:08


Summary

Ikea has decided to move away from Amazon, joining other brands like Nike, Birkenstock, and PopSockets. While some fear that Amazon may suffer from losing big brands, the company's marketplace allows third-party sellers to continue offering products. Despite the challenges of competing with Amazon's customer-focused approach, some brands are choosing to leave the platform. The marketplace has also faced issues with counterfeit goods, leading some brands like PopSockets, Birkenstock, and Nike to cut ties with Amazon. As Amazon continues to expand its private-label business, more brands may consider leaving the platform.


Sentiment: MIXED

Tickers: WMTEBAYAMZNMC-FRNKE

Keywords: internetbusiness newsamazon.com inctechnologyretail industrywalmart incebay inclvmh moet hennessy louis vuitton senike inc

Source: https://www.cnbc.com/2020/01/10/more-brands-are-leaving-amazon-but-the-strategy-could-backfire.html


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