Three retail companies in Ireland have pleaded guilty to breaching laws on sales pricing, the first prosecutions under new legislation introduced in 2022.
Read the full article on the Irish Independent website
NAM Implications:
- A tightening of the application of promo law in practice?
- i.e. retailers must provide the ‘prior price’ when displaying a price reduction.
- They must also base any discounts, such as an amount or a percentage off, on this prior price.
- For each breach of pricing laws, a retailer can be fined up to €5,000.
- Although such fines are inconsequential to major retailers…
- …key is the damage to their credibility of any exposure.
