Invest
1 in 3 Aussies paid more for essentials during COVID-19 panic
Analysis has found that a third of Australians were forced to pay more for essential items as retailers charged consumers a higher price for these goods.
1 in 3 Aussies paid more for essentials during COVID-19 panic
Analysis has found that a third of Australians were forced to pay more for essential items as retailers charged consumers a higher price for these goods.

Stats released by consumer advocacy group CHOICE showed that consumers were sending in hundreds of tip-offs about higher than usual pricing for items such as masks, hand sanitiser and products snatched off the shelves in bulk by hoarders, including toilet paper and tissues.
“The coronavirus triggered some of the biggest shocks to markets and supply we’ve seen in a generation” said Amy Pereira, campaigns and policy adviser at CHOICE.
CHOICE states that white good retailers and freezers saw the biggest mark-up, with an investigation showing the price of a freezer grew by 63 per cent between October 2019 and March 2020.
“As part of our research, we’ve spoken to supply chain experts who just can’t see justification for the price increases as high as what we saw in white goods like freezers,” Ms Pereira said.

“It’s vital that we look at what happened during this crisis and put protections in place to make sure Australians don’t get exploited again – whether that be through price gouging or panic marketing.”
CHOICE’s Consumer Pulse survey asked respondents whether the prices for essential goods were “generally higher than usual”. Thirty-eight per cent of people in NSW and 37 per cent in Victoria reported higher prices – with the figures only getting worse from there, CHOICE noted.
“All states and territories need to update laws for price gouging so our consumer protections are fit for purpose in 2020 and beyond. Price gouging in a crisis should be illegal – state consumer ministers can and should act to stop price hikes in future crises,” Ms Pereira explained.
“It’s important that we look back at the height of the crisis and assess what went wrong. As CHOICE has investigated business behaviour over this period, we’ve seen some inexcusable opportunism, panic marketing and price gouging from retailers across the country.
“It’s particularly concerning to hear at least one in three Australians felt the impacts of price gouging.”
Did you enjoy this article? You may also be interested in:
- Qantas offers $19 flights to get you back in the air
- Beer price hike set for August
- Increased costs won't make Aussies turn TV off
About the author

About the author


Spending
Moneysmart study reveals Gen Z women more concerned about finances than men
A new research conducted by ASIC’s Moneysmart has unveiled the heightened levels of stress and concern regarding finances and the cost of living among Australian Gen Z women compared to their male ...Read more

Spending
The cost of politeness: Aussies out of pocket by $1,350 due to 'awkward tax'
It's the time of year when Australians dive into their pockets for festive events and gatherings, yet a recent study by PayPal suggests that many are too polite, or perhaps too embarrassed, to ask for ...Read more

Spending
Aussies can ‘NAB Now Pay Later’ with the last major bank to embrace BNPL
NAB has become the latest bank to enter the BNPL market. Read more

Spending
Aussie households spent $368 a week on transport after petrol price surge
Fuel costs have increased by 40 per cent over the past year, a new report from the Australian Automobile Association has revealed. Read more

Spending
Voters say reducing the cost of living should be the government’s top priority
Aussies have ranked high cost of living as the top issue that needs to be addressed by the next government. Read more

Spending
Bodies back Labor’s commitment to stronger BNPL regulation
All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia. Read more

Spending
Household spending surges led by retail and recreation
Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased. Read more

Spending
Banks extend financial assistance to flood-affected customers
A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland. Read more

Spending
Moneysmart study reveals Gen Z women more concerned about finances than men
A new research conducted by ASIC’s Moneysmart has unveiled the heightened levels of stress and concern regarding finances and the cost of living among Australian Gen Z women compared to their male ...Read more

Spending
The cost of politeness: Aussies out of pocket by $1,350 due to 'awkward tax'
It's the time of year when Australians dive into their pockets for festive events and gatherings, yet a recent study by PayPal suggests that many are too polite, or perhaps too embarrassed, to ask for ...Read more

Spending
Aussies can ‘NAB Now Pay Later’ with the last major bank to embrace BNPL
NAB has become the latest bank to enter the BNPL market. Read more

Spending
Aussie households spent $368 a week on transport after petrol price surge
Fuel costs have increased by 40 per cent over the past year, a new report from the Australian Automobile Association has revealed. Read more

Spending
Voters say reducing the cost of living should be the government’s top priority
Aussies have ranked high cost of living as the top issue that needs to be addressed by the next government. Read more

Spending
Bodies back Labor’s commitment to stronger BNPL regulation
All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia. Read more

Spending
Household spending surges led by retail and recreation
Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased. Read more

Spending
Banks extend financial assistance to flood-affected customers
A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland. Read more