Consumer Watchdog Issues Warning To GrouponMarch 16, 2012
Consumer Watchdog Issues Warning To Groupon
News from Sky News:
Groupon, which went public last year, has pledged to change the way it promotes offers following an OFT probe
12:05pm UK, Friday March 16, 2012
An investigation by the Office of Fair Trading (OFT) found widespread examples of rule-breaking, including malpractice involving reference pricing, advertising, refunds and interactions with merchants.
Groupon, which offers deals on products from hotel stays to meals out, immediately pledged to change its practices.
It has been given three months by the watchdog to make improvements, including ensuring that prices are accurate and transparent and that all its offers are realistic.
Cavendish Elithorn, a senior director in the OFT’s goods and consumer group, said:”Collective buying and discount schemes can offer real benefits for both consumers and merchants.
“The market is growing rapidly, but it’s important that consumers benefit from consumer protection law as well as from the discounted offers.
“Groupon has cooperated fully with our investigation and is making changes to its business practices to address our concerns.
“We will be monitoring the situation closely to ensure that consumers b…………… continues on Sky News
Top consumer watchdog Cordray outlines ‘fundamental shift’ in mortgage regulation
News from Tampa Bay Business Journal:
Tampa Bay Business Journal by Margie Manning, Public companies editor/Senior staff writer
Date: Friday, March 16, 2012, 11:23am EDT
- Margie Manning
- Public companies editor/Senior staff writer – Tampa Bay Business Journal
- Email | Facebook | continues on Tampa Bay Business Journal
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