The government is set to review regulations on retail pricing as part of the Digital Markets, Competition and Consumers Act 2024. This consultation will focus on banning misleading discount claims and ensuring that advertised prices reflect genuine reductions. Currently, the Competition and Markets Authority (CMA) can penalize retailers for unfair practices, but enforcement can be challenging due to legal thresholds.
Experts highlight that clearer guidelines are needed to protect consumers from deceptive pricing tactics. The Chartered Trading Standards Institute has issued guidance on discount practices, emphasizing the importance of transparency in pricing.