My Equity Releases

Tag: ACCC

  • ACCC files case against electronics retailer

    ACCC files case against electronics retailer | Australian Broker News

    News

    ACCC files case against electronics retailer

    The ACCC claims that the agency did not correctly convey the circumstances of its promotions in its advertising and marketing supplies

    ACCC files case against electronics retailer

    News

    By
    Abigail Adriatico

    The Australian Competition & Consumer Commission (ACCC) has filed a case against electronics retail retailer The Good Guys Discount Warehouses within the Federal Court. The regulator alleges that the agency gave prospects false or deceptive particulars relating to its retailer credit score promotions and failed to supply retailer credit score to eligible customers.

    According to the regulator, the retailer ran a complete of 116 promotions between July 2019 and August 2023, providing retailer credit score referred to as StoreCash ought to prospects spend a sure amount of cash on qualifying merchandise in both on-line or bodily shops.

    However, the ACCC alleged that the retailer stated that the one requirement for customers was to make a qualifying buy however failed to say that in addition they wanted to “decide in to obtain advertising and marketing communications to be able to obtain a retailer credit score.”

    “We allege that the circumstances for customers to obtain a retailer credit score as a part of The Good Guys’ promotions weren’t communicated adequately in The Good Guys’ advertising and marketing supplies,” stated ACCC chair Gina Cass-Gottlieb.

    “We additionally perceive that, for almost all of promotions, the shop credit score being supplied expired inside a really brief time frame of 10 days or much less, which many customers have been unaware of.”

    The ACCC additionally alleged that The Good Guys didn’t give retailer credit score to many eligible customers throughout the specified time or inside an inexpensive time.

    The regulator said its issues over customers who could have bought merchandise from the retailer solely due to the deceptive promotions.

    “Businesses must be on discover that promotional circumstances should be prominently disclosed to customers, quite than buried in hard-to-find places, or they danger enforcement motion underneath the Australian Consumer Law,” Cass-Gottlieb stated.

    With the proceedings within the Federal Court, the regulator seeks client redress, penalties, declarations, compliance orders, publication orders, and prices.

    Related Stories

    Keep up with the newest information and occasions

    Join our mailing record, it’s free!

  • Concerns elevated more than Stockland, Supalai acquisition

    Fears raised over Stockland, Supalai acquisition | Australian Broker Information

    News

    Fears lifted in extra of Stockland, Supalai acquisition

    ACCC flags competitiveness issues

    Concerns raised over Stockland, Supalai acquisition

    The Australian Competitiveness and Shopper Fee (ACCC) has posted a Statement of Challenges outlining preliminary ranges of competitors fears pertaining to Stockland and Supalai’s proposed acquisition of 12 Lendlease residential masterplanned neighborhood initiatives through a joint enterprise.

    Lendlease, Stockland, and Supalai are builders of masterplanned neighborhood initiatives, and the acquisition consists of Lendlease promoting 12 out of its 16 initiatives in NSW, Queensland, Victoria, and Western Australia.

    “We are involved that the proposed acquisition would eliminate an individual of Stockland’s closest and main competitors within the provide of family masterplanned group housing heaps in 4 areas – the Illawarra, North West Perth, Ipswich, and Moreton Bay,” ACCC Commissioner Liza Carver (pictured earlier talked about) mentioned.

    Opportunity results on costs and prime quality

    ACCC’s preliminary points recommend that the acquisition might effectively maximize Stockland’s incentive to boost charges, maintain off present, or lower the wonderful of housing masses within the impacted areas, maybe harming potential house homeowners.

    Market feedback indicated that Stockland and Lendlease are close to competitors with sturdy reputations and the flexibility to dedicate in high-excellent facilities, which embrace coaching, parks, and metropolis centres.

    “We are involved that different builders of masterplanned group tasks might maybe not be succesful to compete adequately with Stockland proper after the acquisition in some areas,” Carver reported.

    Certain points in Illawarra

    “These preliminary fears are strongest within the Illawarra space of New South Wales the place the proposed acquisition would carry collectively the 2 premier masterplanned area people duties in an already remarkably concentrated business,” Carver added.

    The ACCC invites submissions in response to the Assertion of Problems by July 18.

    Get one of the best and freshest mortgage information despatched applicable into your inbox. Subscribe now to our FREE every day publication.

    Related Stories

    Maintain up with the latest information and conditions

    Be part of our mailing listing, it’s completely free!