The Law on the Protection of Consumer Why should businesses Rights is a set of norms and rules aimed at protecting the rights and legitimate interests of consumers in the process of purchasing goods and services.
What is the Consumer Protection Act?
It regulates the rights of consumers to receive quality products! adequate information about goods and industry email list services! and compensation for damage caused by poor quality products.
Example: one of the large retail chains faced a problem – they had batches of TVs that did not meet shopping comforts and inconveniences found in vancouver the declared parameters. The company had to recall the goods and pay compensation to customers! since the rights of consumers to receive quality goods were violated.
In Russia! the main law regulating these issues is the Federal Law of February 7! 1992 No. 2300-I “On the Protection of Consumer Rights”.
This law establishes a list of consumer rights! such as the right to information! the right to quality! the right to safety! and regulates the responsibilities of sellers and manufacturers. In addition! it provides mechanisms for the protection of consumer rights! including the possibility of appealing to trust review the court or to specialized bodies.
Why is it important for businesses to know the consumer protection law?
1. Reputation protection . Negative reviews related to consumer rights violations can spread quickly thanks to social media and online platforms. Consumers are increasingly sharing their experiences! and any omission on the part of a company can have serious consequences.
What is a company’s reputation and how to maintain it
A travel company advertised trips at prices significantly lower than the actual price. A few days before the trip! customers suddenly found out that the price was much higher. Numerous complaints and lawsuits from customers negatively affected the company’s image! which led to a loss of customers and potential revenue.
2. Reducing financial risks associated with possible claims and fines. Violation of consumer rights may result in claims for damages! penalties and fines.