It looks like Jeff Bezos is rethinking how much money he’s sucking out of the pockets of independent businessmen and women again. He boosted the minimum wage of American employees recently after realizing quite a few were living out of their car. Now, Bezos is helping the smaller entrepreneurs. Today, Amazon ended their private label business listings promotion spaces.
Why is this important?
If not aware, these business listings promotion spaces were featured at the top of Amazon search results most of the time (read cnbc here). This meant, the first product anyone browsing would see, would come from Bezos. For the sellers making a living off of the indie-retailers outlet, this meant lower sales. It is guaranteed some people would try Amazon product and if reviews from those shoppers were positive, others would too take interest.
The reason many of Amazon’s product became competitive with sellers on the site was simply price. The billion-dollar company had resources to duplicate any product and produce quantities most could not fathom. Therefore, the cost of production would drop drastically and Amazon could sell any product for retail prices, cheaper than any competitor.
History of Private Label Products
Bezos and company have been building their portfolio of basic needs and popular items for nearly half a decade now. Just 3 years ago however, they began pushing them hard to the public. Advertisement spaces next to the ‘buy now’ button on competitors pages and ad spaces at the top of search results, made their private label goods unavoidable. Near all users of the site have likely seen one of their private label pages, which feature other product. Essentially they are like business listing sites , for other umbrella products, once viewed.
The unregulated competition was disliked by most buyers. With Amazon’s not paying taxes, it also drew the attention of state politicians in a negative light. Senator Elizabeth Warren, who has been a beacon of fairness in justice, wants to put an end to such companies. Because of their clear attempts to unbalance the economy in America, she’s been speaking on a new plan to break up tech giants like Amazon, Google, adn Facebook (read on CNN).
Will these Private Label features come back?
It’s not clear why Amazon took them down, but it’s likely greed. With a future Presidential candidate shining light on Bezos’ tricky schemes to keep ‘bleeding the well dry,’ the world’s richest man may be gaining understanding of self. He is indeed straining the economy at an unfair rate as is and trying to produce the product, everyone else is selling, is a pretty dastardly move. In layman’s terms, he would be like Golem from the “Harry Potter’ stories when he sees the gold on your neck or wrist.
If anything, if Bezos can’t figure out better things to do in life than make money, he needs to turn on some of the ‘new songs of 2019.’ After, take notes from Elon Musk, who just found his love for rap out of the blue, creating the tune ‘RIP Harambe.” Listen to the track below. If not familiar, Musk is the founder of several companies. His business portfolio history includes Tesla Motors, Paypal, and Zip2.