The Good Guys has agreed to a $13.5 million fine after their ‘Storecash’ was deemed to have misled consumers over a four year period.

The retailer which is owned by JB Hi Fi was taken to court by the Australian Competition & Consumer Commission, the retailer has also agreed to pay $200,000 towards the ACCC’s court costs.

The ACCC claimed that The Good Guys, breached Australian consumer law between July 2019 and August 2023, when offering consumers store credit if they purchase qualifying products.

The ACCC claims that the problem was that consumers were required to opt-in to receive marketing communications in order to receive the store credit, something “not communicated adequately in The Good Guys’ marketing materials”, ACCC chair, Gina Cass-Gottlieb, claimed.

The Good Guys also misrepresented that store credit would not expire — when, in fact, it expired within seven to ten days — and failed to provide this credit to thousands of eligible consumers.

“We are concerned that as a result of the alleged conduct, consumers may have purchased products from The Good Guys which they might not have done otherwise,” Cass-Gottlieb added.

“Businesses should be on notice that promotional conditions must be prominently disclosed to consumers, rather than buried in hard-to-find locations, or they risk enforcement action under the Australian Consumer Law.”

In a statement issued on Monday, The Good Guys said it “takes its compliance with the law very seriously” and has worked cooperatively with the ACCC to resolve the matter.

“The Good Guys has always sought to provide value and benefits to its customers and has always prided itself on its high levels of trust with consumers.”