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.
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Tickers: WMT, EBAY, AMZN, MC-FR, NKE,
Keywords: internet, business news, amazon.com inc, technology, retail industry, walmart inc, ebay inc, lvmh moet hennessy louis vuitton se, nike inc,
Source: https://www.cnbc.com/2020/01/10/more-brands-are-leaving-amazon-but-the-strategy-could-backfire.html