Economy

Price-gouging law in effect

Price-gouging law in effect”

Unfortunately, those looking for water have been left frustrated to find shocking price tags on bottled water.

AMAZON customers have furiously slammed the online shopping giant over claims it hiked up prices of bottled water as Hurricane Irma heads for America.

While Irma's exact path is uncertain, the hurricane could make landfall in Florida by the end of the week.

Amazon.com, Inc. (NASDAQ:AMZN) is facing public backlash from users in the South Florida area that are reporting massive price increases on bottled water and other essentials as a deadly hurricane approaches the state. That prompts many to turn to the internet, particularly Amazon, to get the necessary supplies in a timely manner. "$100 for 24pk of water that is usually about $10???" one person tweeted.

However, since water is normally the first essential item to go, the Better Business Bureau has this pro-hurricane hack.

Florida's Attorney General Pam Bondi has opened the state's price gouging hotline. "If customers think an offer has substantially exceeded in price we encourage them to contact Amazon customer service directly and work with us so we can investigate and take the appropriate action".

"We do not engage in surge pricing", the spokeswoman said in a statement.

"Normally leading up to national disasters such as this hurricane", he said, "we have had past experiences of merchants increasing the prices of hurricane related items, particularly at hardware stores and food stores". Amazon did not immediately respond to NBC News' request for comment, but the company has been known to use a dynamic pricing system, powered by algorithms, to tweak prices on its own products based on demand. Listings were allegedly advertised with a "previous" price tag that was much higher than it ever sold for, making it look like savings were greater and the deal more appealing.



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