CMA Warns Retailers Amid Coronavirus

The Competition & Markets Authority provided an updated report regarding the coronavirus. Retailers and multiple brands have been warned by the governing entity not to exploit global citizens with coronavirus products. This follows after increased prices were seen on Wipes, Face Masks and Hand Sanitizers. It’s prompted for the CMA to begin monitoring pricing and sale practices, with them informing these retailers that severe action will be taken if they found breaking the law. Multiple corporations have provided misleading claims regarding the efficiency of their coronavirus products.

The Chairman for the Competition & Markets Authority, Lord Tyrie, spoke on this updated report. He expressed that as a governing entity, they’re doing whatever is required to terminate misleading claims. He noted that all tools are being utilized to advise global governments on further actions that can be taken against these illegal companies. That could include pricing with various products like Hand Sanitizer and Face Masks.

These company-based statements continued through Andrea Coscelli, the Chief Executive of the Competition & Markets Authority. She mentioned that they’ve urged retailers to behave responsibly, and that their current actions show irresponsibility with the coronavirus outbreak. Making these misleading claims is changing prices on products, forcing the CMA to remind the public of their obligation with reselling these goods as well. Masks have been found being resold through eBay, Kijiji, Amazon and Etsy.

The Advertising Standards Authority

It should be noted that the CMA isn’t the only governing entity to release legal warnings to retails. The Advertising Standards Authority also banned multiple face mask advertisements, which was using global fears to take advantage of increased profits. When the banning was implemented, the ASA found that these companies breached multiple contracts by justifying their advertisements concerning a global pandemic. These advertisements have increased by a daily percentage of 12.5% for the Advertising Standards Authority, bringing them concern that consumers will spend substantial funds for limited protection. All for the sense of peace of mind.

Corporations that received this warning report from the Advertising Standards Authority didn’t provide any public responses to the governing entity. This indicates that they don’t plan on stopping anytime soon. Even with social media platforms like Facebook and Twitter banning advertising regarding coronavirus products. It should be noted that multiple vegans have released “Herbal Medicines”, claiming that these All Natural Remedies will save them from the coronavirus. Though anybody falling for such a ridiculous claim somewhat deserves to be fooled.