Lots of stories of hoarders with toilet paper, hand sanitizer, face masks have been in the media. But the one thing not mentioned is how such hoarding is even enabled.
Many of these hoarders use Amazon or eBay to try and resell their hoarded items at super inflated prices. Back in early March eBay at least banned sales of many of these items.
As for Amazon… let’s see our test experience–
Consider that if Amazon had price limit precautions in place that we may have never had any hoarding of any item since there would be no third-party place to easily sell it.
In other words, in my opinion, Amazon seems to have enabled much of the hoarding by not regulating its marketplace better. They let sellers name any price for items. That works in a perfect market. But in a hoarder-led market (which is imperfect and manipulated) it doesn’t. And Amazon doesn’t seem to get this or doesn’t care since it takes a cut of all sales.
The proof is in the listings on Amazon. Anyone can see.
In the article it says Amazon “cracked down” on price gougers … really? weeks later we still see even today lots of price gouging happening.
Proof that price gouging still exists on Amazon? Consider that a 500ml (16.9 ounces) bottle of hand sanitizer is listed there for $50. While many are hiking prices all over, the ease of listing and selling on Amazon makes it a price gouger’s favorite flea market. Don’t think that’s a high price? You can buy a whole gallon of this stuff for $50 elsewhere online.
Thank goodness there’s an entire web to buy things from. Amazon’s ‘prime delivery’ convenience suddenly looks like an empty value when sellers there charge 5x to 10x the price for an item…