The Supermarket Association of Trinidad and Tobago (SATT) is seeking to underscore what is says are "several truths where issues related to pricing are concerned".
In a statement issued today, SATT said it is well documented that the supermarket sector in Trinidad and Tobago boasts one of the most robust and competitive sectors both in the Caribbean and Latin America.
"This level of saturation creates a high level of competition among leading household brand name supermarkets who themselves are competing for the attention of the customers nationwide. As such, this provides checks and balances where predatory pricing is concerned."
It said that this results in an environment where deals, specials and promotions are a common draw for customers looking to maximize their budget and argued that in an industry this competitive, "it simply does not allow for price gouging to occur when consumers have so many options for their shopping needs".
"Furthermore," SATT said, "the issue of price gouging exists when demand is high and supply is limited. The act of charging customers exorbitant prices for goods beyond reason is an unscrupulous practice and one that is treated harshly under the auspices of the Association."
It noted that in a situation where price gouging does in fact occur, it is against the backdrop of today’s social media where that offender will incur the ire of the entire public.
"As such, those incidents have become practically nonexistent within the confines of our membership," SATT said.
SATT also sought to remind the public that not all supermarkets fall under the umbrella of the Association.
"SATT members are held to a gold standard of community service and industry best practice while adhering to robust corporate social responsibility. As a result, delinquent supermarkets engaged in any ill savory practices such as price gouging do not fall under SATT."
It said that consumers who feel victimized by such practices are urged to report their experiences to the Consumer Affairs Division of the Ministry of Trade and Industry.