The Australian Competition and Consumer Commission has rejected Narta International’s proposal to set a minimum advertising price on a range of consumer electrical goods.
This comes after the consumer watchdog issued a draft proposal denying authorisation to Narta in January.
Narta is a buying group that represents over 30 CE retailers, including JB Hi-Fi, David Jones and Myer. If they were granted authorisation it would’ve meant imposing a minimum advertising price on several exclusive model or BEKO branded products that are collectively acquired by Narta members, including televisions, cameras, white goods and kitchen appliances.
“The ACCC has denied authorisation because Narta’s proposed conduct would be likely to result in significant public detriment by reducing competition between retailers and raising both the advertised and selling prices of electrical products,” ACCC deputy chair Michael Schaper said.