The Competition and Mergers Authority have issued a statement warning traders not to exploit the Covid19 pandemic by charging vastly inflated prices or making false claims to prey on peoples’ fears.
These warnings also apply to members of the public who resell goods. If there are breaches of competition law or consumer protection law the CMA have said that they will investigate and take direct enforcement action where appropriate.
If you need to make price increases you should document the reasons why – complications in the logistics of delivery or performance, increase in the costs of raw materials or an increase in line with inflation or retail price indexes. You should be able to objectively justify the price increase.
Any claims that you make about products in terms of safety should have test reports and or scientific evidence to back up those claims.
