I believe it to be an unfair and unjust practice that well funded groups/individuals can deplete the stock of a single item and make it unaffordable/unavailable to the average consumer. I believe the law around this practice needs to be reviewed and measures to prevent it need to be introduced.
This practice is most prevalent in the buying and re-selling of event tickets but also has a significant impact on the sales of trainers/clothes and technology. The most recent case in point is the launch of the PlayStation 5 and X Box Series X consoles. Both pre-orders and launch day stock were sold out instantaneously and then thousands of listings appeared on eBay at over double the RRP. A reseller group claimed to have been able to secure 3500 of these.
Tuesday 23rd February 2021
Using automated software to buy more tickets than allowed by the retailer is prohibited, with unlimited fines for breaches. Government is discussing other markets with relevant trade associations.
The Government is committed to maintaining one of the world’s strongest consumer protection regimes and ensuring consumers’ interests are safeguarded in our economy.
The Government introduced legislation that prevents the use of automated software (‘bots’) to purchase event tickets which are sold on at an inflated price in 2018. We are discussing the issue of bulk purchasing of high demand items like graphics cards and games consoles through automated bots with trade associations such as Ukie, the trade association for the video games industry. We understand they are currently examining further actions they can take to prevent these behaviours and are working with their retailers to improve experiences for customers purchasing their products.
Department for Business, Energy and Industrial Strategy