Price Increases during January “Sales” in Iceland Skip to content

Price Increases during January “Sales” in Iceland

Director of the Consumer Agency Tryggvi Axelsson said reports from consumers on products that cost more now than before they were put on “sale” last weekend have increased from January sales in previous years, either because such practice is more common than it used to be or because customers pay closer attention to pricing.

Smáralind shopping mall. The picture is unrelated to the story. Copyright: Icelandic Photo Agency.

“We have receive reports that the price was raised shortly before the beginning of the sale and then decreased to the original price while on sale,” Axelsson told mbl.is, adding that in some cases price tags are placed on top of old price tags so it is easy to find out what the original price was.

“The laws are clear and it is illegal to advertise sale unless there is a real drop in price,” Axelsson said, explaining that it is in violation of law to affix price tags in such a way that discounts look higher than they really are.

The Consumer Agency has the authority to fine companies that are trying to deceive customers on purpose.

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