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The Federal Trade Commission (FTC) has ordered that Walmart, as well as Amazon, Kroger and other retailers, turn over information regarding their empty shelves and price increases amid ongoing supply chain issues. This is getting serious!
The organization announced via statement on November 29th that it would be looking into these disruptions and how they are “causing serious and ongoing hardships for consumers and harming competition in the U.S. economy.” The inquiry will require chains like Walmart to turn over internal memos and marketing strategies that may help them piece together how things got *quite* so bad this year.
Walmart is among one of the nine large U.S. retailers, wholesalers, and consumer good suppliers (Procter & Gamble Co., Tyson Foods and Kraft Heinz Co. are also on the list) that the FTC is demanding “detailed information” about Covid shortages from.
“Supply chain disruptions are upending the provision and delivery of a wide array of goods, ranging from computer chips and medicines to meat and lumber," FTC chair Lina M. Khan says in the release. We know that's right!
Companies will be required to provide the commission with "internal documents regarding the supply chain disruptions, including strategies related to supply chains; pricing; marketing and promotions; costs, profit margins and sales volumes; selection of suppliers and brands; and market shares."
Walmart and the other companies named will have 45 days from the date they received the order to respond. We will continue to keep an eye on this evolving story!
