Amazon Vows to Act on Price-Gouging on Coronavirus Goods

Amazon responded to a letter from US Senator Ed Markey, who wrote it appeared to be profiting from panic buying.

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By Agence France-Presse | Updated: 6 March 2020 11:50 IST
Highlights
  • Amazon pledged to take steps to fight price gouging
  • A US senator had complained of "unjustifiably high prices"
  • Hand sanitizers and surgical masks are in high demand

Amazon pledged Thursday to take steps to fight price gouging after a US senator complained of "unjustifiably high prices" on hand sanitizers and surgical masks to protect against coronavirus infections.

The US retail giant responded to a letter from Senator Ed Markey, who wrote that Amazon appeared to be profiting from panic buying related to the epidemic.

"We agree with Senator Markey -- there is no place for price gouging on Amazon and that's why our teams are monitoring our store 24/7 and have already removed tens of thousands of offers for attempted price gouging," an Amazon spokesperson said in an email.

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"We are disappointed that bad actors are attempting to take advantage of this global health crisis and, in addition to removing these offers, we are terminating accounts."

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About half of Amazon sales come from third-party vendors as part of the company's online "marketplace."

Markey questioned Amazon's vigilance after a series of media reports highlighted markups on some items of as much as 2,000 percent, with one report indicating the company's enforcement of its fair-pricing policy as "haphazard."

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"No one should be allowed to reap a windfall from fear and human suffering," Markey said Wednesday. "I'm calling on Amazon to stop and prevent coronavirus-inspired price gouging."

 

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Further reading: Amazon
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