Retail Industry Leaders Association (RILA) Vice President of Innovation Nicholas Ahrens issued the following statement in response to today's announcement of a new Federal Trade Commission (FTC) task force dedicated to monitoring competition in U.S. technology markets.
"The Internet and mobile devices have radically transformed our economy in the past decade. The ascension of dominant technology platform businesses to the center of modern consumer decision-making requires new scrutiny, and new strategies to ensure consumers are being protected. Retailers support the creation of a new task force within the FTC's Bureau of Competition to bring needed scrutiny to the relatively few technology platforms that control a growing share of modern commerce.
"Retailers fundamentally believe in free markets and fair competition. Platform businesses have revolutionized retail, and that disruption stems in no small part from genuine innovation that should be celebrated and incentivized. Innovation is key to moving our economy forward, but the time has arrived for the FTC to ensure consumers remain the ultimate beneficiary of the technological advances reshaping our economy."
RILA submitted comments to the FTC in August 2018 fully outlining the retail industry's approach to antitrust enforcement and consumer protection in the rapidly transforming, 21st century economy.
RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to reimagine and transform the retail ecosystem - and equip leading retailers to succeed in it.
RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.