SINGAPORE: Those affected by the closure of online group buying website Outlet.com.sg are able to seek legal recourse as long as the company has a Singapore office, says the Consumers Association of Singapore (CASE).
CASE says this will fall under the Consumer Protection Fair Trading Act.
It adds that consumers can also get help from the appointed liquidator of the online company if the company has been wound up.
To protect consumers, as well as instil the public’s confidence in such businesses, executive director of the Institute of Asian Consumer Insight Bernd Schmitt says authorities need to implement more regulations on group buying websites.
"Group buying is in an early phase of market development. It’s a new idea, it’s a new innovation that’s only been happening for a few years. So what you have in the beginning is always lots and lots of companies going into the market," he said.
"We know from research in lots of different product categories that there will be a fallout. So some will survive, and others will go down. I think we are already seeing that some are going down now."
MORE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
After a teary goodbye at the Parc des Princes, David Beckham admits that his starring role in Paris Saint-Germain's French title party is th... More After a teary goodbye at the Parc des Princes, David Beckham admits that his starring role in Paris Saint-Germain's French title party is the last chapter of his colourful career. Duration: 01:27
Date 34 mins ago, Duration 1:27, Views 0