Today is Black Friday. The Competition Protection Commission Issues a Warning

The Competition Protection Commission reminds businesses to strictly adhere to the provisions of the economic competition protection legislation during the discounts and promotions frequently used on Black Friday.

Specifically, they are urged to refrain from publishing incomplete, false, or misleading information about the discounts applied to product prices, artificially raising product prices before announcing a discount, and then selling the product at the set price until after the price increase, among other practices. When publishing information about discounts applied to product prices, businesses should provide data that corresponds to reality and does not mislead the public.

For instance, businesses may announce that a discount is in effect at a retail location, whereas the discount is actually not applied, or is only applicable to a limited or very small quantity of products, or only for specific categories.

The Commission once again reminds that all of the aforementioned actions are manifestations of unfair competition, for which businesses may face fines of up to 5% of the revenue of the preceding year related to the violation. If you encounter similar issues, you may contact the Commission.