November 29, 2012

Major retailers agree to follow fair trading guidelines in UK

Major supermarket chains in UK including Aldi, Co-Op, Lidl, Marks and Spencer, Morrisons, Sainsbury's, Tesco and Waitrose will now adhere to more transparent policies on promotions and offers.

By admin-demo

Major supermarket chains in UK including Aldi, Co-Op, Lidl, Marks and Spencer, Morrisons, Sainsbury’s, Tesco and Waitrose will now adhere to more transparent policies on promotions and offers.

The retailers will modify their individual promotional policies to be consistent with framework offered by the the country’s Office of Fair Trading (OFT) on food and drinks related special offers.

OFT prodded the retailers to provide with reliable information on discounts such that was not misleading for customers.

The agency stressed on information being clear and fair resulting in consumers being able to place greater trust in retaiers.

Commenting on the necessity of such guidelines OFT chief executive Clive Maxwell remarked that the economy had placed much constraints on shoppers and it would help if retailers were more transparent with information given out to them.

"Prices and promotions need to be fair and meaningful so shoppers can make the right decisions.

"Nowhere is this more important than during regular shopping for groceries, which accounts for 44 per cent of household spending," added Maxwell.

The agency carried out an investigation into claims of confusing language used in offers and promotions that had the potential to misled consumers.

While no individual retailer was found to be guilty the agency decided to work towards a framework of fairness and transparency in consultation with the retailers.