Amazon Labeled a Grocer by UK Watchdog, Must Abide by New Rules
Britain's antitrust regulator designated Amazon.com as a grocery retailer, subjecting the online retail giant to the same rules followed by U.K. supermarket chains, such as Tesco. From a report: The Groceries Supply Code of Practice prohibits companies from making changes to supply contracts at short notice, and requires retailers to give appropriate period of notice if they no longer want to use a supplier and give reasons for ending contracts. It means that Amazon could now face a fine of as much as 1% of its U.K. revenue if it's deemed to have mistreated vendors. The Seattle-based company sells groceries online under its Amazon Fresh banner, as well as through a partnership with supermarket chain Wm Morrison Supermarkets. It has 15 Amazon Fresh stores and seven Whole Foods stores in Greater London and has a minority stake in food delivery service Deliveroo. "Today's decision to designate Amazon helps to ensure a level playing field for companies active in the groceries sector as people's buying habits evolve," said Adam Land, senior director of remedies, business and financial analysis at the Competition and Markets Authority.
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