Lest you’re unaware, given the COVID-19 situation, masks are flying off the shelves like hotcakes.
In fact, they’re such a hot commodity that dishonest people have taken to sites like Carousell to scam others who are desperate to get their hands on the masks no matter the cost.
Retailers are hopping onto the profiteering bandwagon too, and at least one retailer, 3 Stars has continued selling overpriced masks even though they have already been warned about their unfair practice previously.
3 Stars Retailer Apologises & Reduce Mask’s Price, Authorities Says ‘Case Closed’
Retailer 3 Stars has apologised yet again after the Ministry of Trade and Industry (MTI) received complaints that it was still profiteering from face masks.
They have since allegedly reduced the prices.
Despite catching them red-handed once again, MTI has “concluded its investigation of 3 Stars, and in view of the apology and price reduction, would be taking no further action at this time.”
In other words, case closed.
It might be worthwhile noting too that the cost price of masks has increased by quite a bit, according to MTI.
What Happened
On 10 February, the ministry issued a letter of demand to 3 Stars after it received complaints from the public.
The retailer was asked to submit documents to explain the price hike for masks, which includes cost prices and profit margins.
Two days were given to the retailer to respond with the documents, however, the first response was deemed incomplete.
An inspection was carried out on 17 February at its company headquarter, warehouse and several outlets.
The information was later acquired and showed that there was a significant increase in the cost price of face masks from overseas suppliers.
The firm has also issued an apology and have reduced the prices. They have also undertaken to take better care in their pricing practices.
3 Stars could’ve been fined up to S$10,000 for a first offence, and up to S$20,000 for the second and subsequent offences.
If you walk around outside and you spot a very expensive mask, feel free to report these errant sellers to Consumers Association of Singapore (Case) at 6100 0315.
In the meantime, MTI will continue to monitor 3 Stars’ pricing practices and will take action under the Price Control Act if need be.
Watch this for a complete summary of what REALLY happened to Qoo10, and why it's like a K-drama:
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