The Competition and Markets Authority (CMA) said it has been monitoring reports of changes to sales and pricing practices during the coronavirus outbreak.
The watchdog asked traders to “not exploit the current situation to take advantage of people.”
“We urge retailers to behave responsibly throughout the coronavirus outbreak and not to make misleading claims or charge vastly inflated prices. We also remind members of the public that these obligations may apply to them too if they resell goods, for example on online marketplaces,” Andrea Coscelli, CMA chief executive, said in a statement issued today (5 March).
Last week, online supermarket Ocado has advised customers to place orders further in advance because of "exceptionally high demand", indicating a possible reaction from shoppers to the spreading coronavirus outbreak.
"More people than usual seem to be placing particularly large orders. As a result, delivery slots are selling out quicker than expected," it said in a e-mail sent to some customers on Friday (28 February).
CMA said it will take direct enforcement action if any evidence of excessive prices or misleading claims about the efficacy of protective equipment emerges.
“We will do whatever we can to act against rip-offs and misleading claims, using any or all of our tools; and where we can’t act, we’ll advise government on further steps they could take, if necessary,” said Lord Tyrie, CMA chairman.
Earlier this week, Andrew Opie, director of food and sustainability at the British Retail Consortium, told Reuters that retailers were monitoring consumer behaviour to anticipate changes in future demand.
Disruption to supply chains has been limited so far, and the availability of products remains good, he said.
He noted that sales of hand sanitiser have risen as individuals and businesses take precautions to reduce the spread of the virus, adding that retailers were also taking necessary steps to meet the rise in demand for hygiene products.
