Amazon suspends nearly 4,000 sellers over coronavirus price gouging

Business News

(CNN) – $70 for two boxes of Cheerios?

It’s the price surge one Amazon shopper recently encountered.

The online retail giant is now suspending thousands of accounts due to price gouging.

“Everything is just ridiculously priced,” says shopper Susan Nott.

Nott says she was shopping for Cheerios for her husband and noticed most of the boxes were sold out.

“Everything said unavailable, not available, out of stock and then I saw a two-box set and looked at it and it was 70 dollars and 14 cents for the two boxes,” Nott said.

She is not alone. Multiple people have taken to social media claiming they’ve seen prices skyrocket.

That’s why Amazon is suspending nearly 4,000 accounts for allegedly price-gouging customers out of items like cereal and Emergen-C powder.

“You know, you get used to buying your regular cleaning supplies and household supplies and things are twice to three times the price,” Nott continued.

Amazon released the following statement on their company blog, saying they were:

“Making clear to all of our sellers our longstanding policies that ensure fair pricing. Monitoring our stores 24/7 through both automated and manual means and aggressively removing bad actors and offers. Collaborating with federal, state, and local law enforcement agencies and policymakers to hold price gougers accountable. Staying focused on our customers and protecting their interests.”

Earlier this month, the company said it pulled more than 1 million products for price gouging or falsely advertising effectiveness against the coronavirus.

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