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.



Like this

loading...
loading...

Latest


07 September 2017
Peter Luck, Australian journalist and presenter, dies aged 73
The program, Who Are We? traced the history of immigration in Australia. But Luck was more than just a dominant figure in television. He was witty, acerbic, thoughtful.

07 September 2017
Microsoft Offering Its Own Destiny 2 Bundle, Sort Of
Buyers could still purchase the bulkier, original Xbox One model as stores kept the console in-stock on shelves and online. Alternatively, you can pick up a 500GB Xbox One S along with a copy of Destiny 2 for a total of $239.99 over at Amazon US.

07 September 2017
Dennis Rodman Wants to 'Straighten Things Out' Between Donald Trump, North Korea
This would also apply to any other vessels designated by the Security Council committee monitoring sanctions against North Korea. The latest move to toughen measures against North Korea follows its latest test in a fast-advancing nuclear weapons programme.

07 September 2017
Samsung Takes Pre-Orders for Galaxy Note 8
There's the cheaper Samsung Galaxy S8 and Galaxy S8 Plus , both of which have heavier discounts since they're a few months old. It's not exactly new but Samsung made it more fun and interesting.

07 September 2017
AP Hits the Bulls Eye -Gets India's First Hyperloop!
But an official release on the MoU did not disclose the probable cost of the project. But it has not been implemented for practical use anywhere in the world yet.

07 September 2017
Extend coal fired power stations: AEMO report
Blackout risks are expected to pick up again after 2022, following AGL Energy 's planned closure of its Liddell coal-fired power station in New South Wales state, the market operator said.

07 September 2017
Cigna Investments Inc. New Buys New Holdings in Pitney Bowes Inc. (PBI)
On average, equities research analysts anticipate that Pitney Bowes Inc. will post $1.68 earnings per share for the current year. Sidoti downgraded Pitney Bowes from a buy rating to a neutral rating in a research report on Monday, May 15th.

07 September 2017
Tropical Storm Jose forms behind Hurricane Irma
The storm is forecast to begin moving slightly faster in a west-northwest motion during the next two days, according to the NHC . The closest land mass Jose will approach is the northern Leeward Islands, the same ones Irma just devastated.

07 September 2017
The Merck &'s (MRK) Outperform Rating Reaffirmed at Credit Suisse Group
Many analysts have provided their estimated foresights on Merck & Co., Inc. (NYSE:MRK). 362,562 were accumulated by Airain. The company has market cap of $1.14 billion. (NYSE:MRK) has "Buy" rating given on Wednesday, April 6 by Societe Generale.

07 September 2017
The Square delightfully skewers art culture in new trailer
It will screen at the Toronto and NY film festivals, followed by a limited theatrical release October 27 via Magnolia Pictures .