AMAZON.COM, INC.

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Amazon to allow Prime users to unsubscribe in two clicks after EU complaints

07/01/2022 | 07:11am EDT
A man walks past a logo of Amazon Prime Video during a launch event in Mumbai

BRUSSELS (Reuters) - U.S. online retail giant Amazon has made it easier for users to cancel their subscriptions to its fast shipping club Prime with just two clicks, following complaints from consumer groups, the European Commission said on Friday.

European Consumer Organisation (BEUC), the Norwegian Consumer Council and the Transatlantic Consumer Dialogue took their grievances to the EU executive in April last year.

They said users had to go through numerous hurdles such as complicated navigation menus, skewed wording and confusing choices, to unsubscribe from Amazon Prime.

The company will now allow users to unsubscribe from Amazon Prime with two clicks via a prominent and clear 'cancel button', the Commission said.

The changes will apply to all EU websites and for desktop devices, mobiles and tablets with immediate effect.

"Consumers must be able to exercise their rights without any pressure from platforms. One thing is clear: manipulative design or 'dark patterns' must be banned," Justice Commissioner Didier Reynders said in a statement.

(Reporting by Foo Yun Chee; editing by Jason Neely)

By Foo Yun Chee


© Reuters 2022
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Analyst Recommendations on AMAZON.COM, INC.
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Financials (USD)
Sales 2022 523 B - -
Net income 2022 470 M - -
Net Debt 2022 21 586 M - -
P/E ratio 2022 2 441x
Yield 2022 -
Capitalization 1 434 B 1 434 B -
EV / Sales 2022 2,79x
EV / Sales 2023 2,35x
Nbr of Employees 1 608 000
Free-Float 85,8%
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Technical analysis trends AMAZON.COM, INC.
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Consensus
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Mean consensus BUY
Number of Analysts 52
Last Close Price 140,80 $
Average target price 174,02 $
Spread / Average Target 23,6%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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