Bezos Highlights Customer Satisfaction
29 Juli 2020 - 8:20PM
Dow Jones News
By Sebastian Herrera
The chief executives of Amazon.com Inc., Apple Inc., Facebook
Inc. and Google are appearing Wednesday before the House Antitrust
Subcommittee investigating the market dominance of online
platforms.
The CEOs submitted their prepared remarks Tuesday, and have been
given five minutes each to hit the highlights now.
Jeff Bezos opened his prepared remarks by discussing one of his
favorite talking points: Amazon's obsession with satisfying
customers.
Mr. Bezos often mentions Amazon's prioritization of customers in
public appearances and interviews to make a point about what
drive's Amazon's competitiveness -- a timely topic for today's
heating.
The CEO also discussed his company's support of third-party
sellers, which he has said now accounts for approximately 60% of
sales on Amazon. Amazon couches this as a success for small
businesses, but it also creates high revenue for the e-commerce
giant. Besides giving up a cut of sales to Amazon, sellers pay
Amazon to fulfill orders and run sponsored listings on the site,
among other costs.
Amazon's treatment of third-party sellers on its site is
expected to be a consistent theme in today's hearing. While Amazon
has denied in the past that it uses proprietary data from
third-party businesses to form its own products, reporting from The
Wall Street Journal in April showed otherwise.
(END) Dow Jones Newswires
July 29, 2020 14:05 ET (18:05 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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