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http://www.news.com.au/business/shape-up-group-buying-sites-on-notice/story-e6frfm1i-1226164921928
AUTHORITIES have warned group buying sites they need to stop duping consumers or government will step in to help the swelling tide of angry customers.
Complaints about unclear refund policies and lack of available stock on products offered on sites have been rising in line with exponential growth of the industry, tipped to be worth $400 million by next year.
Governments have put the industry on notice that it may face a crackdown if it cannot show that it can regulate itself – but the divided industry is scrambling to agree on how to do it.
“Fix your house up or we’ll come and fix it for you,” was the threat from NSW Fair Trading Minister Anthony Roberts this week.
The Australian Competition and Consumer Commission also says the industry is “on the radar” and the federal government has warned that companies in breach of new consumer protection laws could face fines of up to $1.1 million.
Read more: http://www.news.com.au/business/sha...ce/story-e6frfm1i-1226164921928#ixzz1aXOwMCYc
AUTHORITIES have warned group buying sites they need to stop duping consumers or government will step in to help the swelling tide of angry customers.
Complaints about unclear refund policies and lack of available stock on products offered on sites have been rising in line with exponential growth of the industry, tipped to be worth $400 million by next year.
Governments have put the industry on notice that it may face a crackdown if it cannot show that it can regulate itself – but the divided industry is scrambling to agree on how to do it.
“Fix your house up or we’ll come and fix it for you,” was the threat from NSW Fair Trading Minister Anthony Roberts this week.
The Australian Competition and Consumer Commission also says the industry is “on the radar” and the federal government has warned that companies in breach of new consumer protection laws could face fines of up to $1.1 million.
Read more: http://www.news.com.au/business/sha...ce/story-e6frfm1i-1226164921928#ixzz1aXOwMCYc
