Trade Me says users selling sanitiser and wipes for $50 is 'simply market forces at work'

Tuesday, 3 March 2020

Trade Me says it will not regulate prices as people call for the website to stop the price gouging of anti-bacterial products by sellers capitalising on the coronavirus outbreak.

Supermarkets around the country are experiencing significant demand for sanitisers and face masks, with many selling out of stock.

Twitter user Victoria Carter called for Trade Me to stop its users from selling sanitisers for considerably more than their retail price on its website.

A pack of 50 face masks being sold for $75.

'I think you have a responsibility to stop this fear mongering and price gouging, $50 for hand sanitiser, soap and wipes worth 1/3. Please be part of stopping the panic,' Carter tweeted.

Trade Me users capitalise on coronavirus scare selling face masks and hand sanitiser

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But Trade Me said: 'We understand this behaviour isn't everyone's cup of tea but we never regulate the prices of items on our site. At the end of the day, these are trades between a willing buyer and a willing seller and the prices are simply market forces at work.'

Stockpiling of antibacterial products began shortly after the first case of the virus, which has infected more than 83,000 people globally, was confirmed in New Zealand last week.

This 500ml bottle of hand sanitiser sold for $27 on Trade Me after New Zealand's first case of coronavirus was confirmed.

The person, a citizen of New Zealand, had been to Iran and flown back to New Zealand via Bali.

On Sunday a 500 millilitre bottle of hand sanitiser, which normally retails for $10, sold for $27 on Trade Me.

A Foodstuffs spokeswoman said most of its supermarkets around Auckland had been hit by customers stockpiling household essentials.

'We delivered hundreds of additional pallets over the weekend and we estimate that we completed more than 100,000 additional case picks this past weekend,' she said.

'Our out-of-stock items are ones that are experiencing significant global demand, including hand sanitiser and face masks.

'Many household essentials saw a significant increase in sales over the weekend including toilet paper, bread and milk. These products are made or manufactured in New Zealand and are not under threat and shoppers should look to shop for these items as they normally would.

'Stockpiling puts stores under unnecessary pressure and delays when they can replenish stock and limits availability for other shoppers.'