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E-commerce platforms restrict speculative pricing

26.04.2020
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As follows from the Association of internet-trading companies letter received by thе FAS Russia, the member companies of the Association are doing everything possible to provide quality service and reasonable prices for customers.


Members of the Association assured the FAS that they are aware of their responsibility to customers and electronic trading platforms are limiting speculative prices by automatically blocking sellers' goods with signs of such prices. They have also introduced increased control and created additional services that allow buyers to complain about excessive prices.
The Association said that its actions would help stabilize the price situation in the consumer goods market and is ready to share with the antimonopoly authority information on all cases of speculative prices for essential goods.

Anna Mirochinennko, head of the FAS Russia Chemical Industry and Agriculture Control Department commented on the issue: - "Due to the appeals of retail chains and citizens about the facts of resale at inflated prices through the Internet services of essential goods, we turned to the Association of Internet-trading companies and recommended that its participants take into account factors that could lead to higher prices for consumer goods. It is important that market participants have correctly accepted our recommendations and are taking measures aimed at preventing unjustified price increases in the conditions of such a difficult economic situation in the country".

Source: https://fas.gov.ru/news/29675