Plans have been unveiled to ban dynamic ticket pricing as part of a raft of new measures to “stop businesses ripping off Australians”.
The federal government has unveiled plans to ban dynamic ticket pricing as part of a raft of new measures it says will “stop businesses ripping off Australians”.
Subscription traps, drip pricing, and deceptive online practices are among the issues the government plan aims to address, with Prime Minister Anthony Albanese saying the plan will take “strong action to stop businesses from engaging in dodgy practices that rip consumers off”.
“Today’s announcement puts businesses engaging in unfair trading practices on notice,” the Prime Minister said.
“Hidden fees and traps are putting even more pressure on the cost of living and it needs to stop.”
The Treasury will consult on the design of the new measures before the federal government legislates what it described as a “general prohibition on unfair trading practices”.
Among the targeted practices is dynamic pricing, where a product’s price changes during the transaction process based on supply and demand.
Green Day fans recently slammed the pricing model as tickets shot up to as high as $500 for seated tickets.
The sale of Britpop rock band Oasis’ UK and Irish shows also thrust dynamic pricing into the spotlight earlier in the year, with the UK competition regulator launching an investigation into the ticketing model following the Oasis sale.
The European Commission is now also reportedly looking into the controversial practice, according to The Guardian. The government said these and similar practices could distort purchasing decisions or result in additional costs, putting more pressure on the cost of living.
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