London 2012 Olympic Games merchandise being sold at varying prices
It has been observed by a consumer watchdog that many retailers for the London 2012 Olympic Games merchandise are charging the consumers with rip off prices.
The cost at which the consumers are buying many of the Olympic Games merchandise is three times more the amount sanctioned by the London Organising Committee for the Olympic Games.
More than 50 retailers have been authorised by the LOCOG by the provision of licences to sell the Olympic merchandise. The merchandise majorly consists of souvenirs particularly the famous mascots of the Olympic Games, Wenlock and Mandeville.
According to the findings of BBC London, a smaller version of the Mandeville mascot was being sold at the price of £9.99 at John Lewis which is situated in Oxford Street. However, down the same road at a shop named Color, the same sized mascot was priced
at £29.99.
A spokesman from the LOCOG expressed the stance of his organization on the matter in the following manner, “It is solely at the retailers discretion to set the retail price - we nor anyone else have control over pricing. Some licensees will set an RRP for
each item of official London 2012 merchandise but ultimately retailers decide the level of pricing.”
On the other hand, Martin Hocking of the shop Which? expressed his views by making the following comments, “When a shop at one end of Oxford Street is charging £8.99 and a shop at the other end of the street is charging £24.99 there's something fundamentally
wrong. I can't imagine that the price of anything else on Oxford Street would vary that much.”
After the news from the BBC London was made public about the pricing of the Olympic souvenirs, Color gave a statement that it had adjusted its prices so that it falls in range with that of the official Olympic Games shops.
A wide variety of Olympic Games merchandise is available for purchasing on the official website of the London 2012 Olympic Games and those customers who want to avoid being exploited can directly buy the products off the website by ordering it online.
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