The Australian Competition and Consumer Commission (ACCC) has changed its priorities, after ACCC chair Rod Sims spoke with a group of 70 CEOs and senior executives about the coronavirus outbreak.
The result is a COVID-19 Taskforce, a group which will reprioritise its work towards the economic disruption caused by the crisis.
While categories span as wide as travel contracts and gym memberships, there are a number of retail initiatives in focus.
Amazon, eBay, Facebook and Gumtree have been engaged to advise how they are monitoring price gouging, including key protective apparel items such as masks and gloves.
Sims said while the ACCC has received some assurances the platforms have mechanisms in place, it is encouraging increased vigilance and will continue to monitor the situation.
Recently the Australian Federal Police has been given new powers under the Biosecurity Act to prevent price gouging.
"The prescribed products are disposable gloves, disposable gowns, goggles, glasses, or eye visors used for limiting the transmission of organisms to humans, or of alcohol wipes and hand sanitiser," Sims said.
"It is now an offence to resell or offer to resell these products, if they were purchased in a retail transaction, at 20 per cent or higher than the original price paid."
In the past three weeks, the ACCC has also granted interim authorisation to a number of sectors to ensure the economy is able to function.
This has included 14 separate interim authorisations, which allow for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act 2010.
For the retail sector, shopping centre owners and managers have been given interim authorisation to discuss and implement rent relief measures for small to medium shopping centre tenants facing hardship.
Banks have also been authorised to cooperate on loan relief package for small businesses.
"We still have a number of applications for interim authorisation to be considered by the Commission, which is currently meeting to make statutory decisions a number of times each week to deal with the surge," Sims said.
"The ACCC’s COVID-19 Taskforce is rapidly responding to a large number of issues impacting Australian consumers and businesses as a result of the COVID-19 pandemic.
"The ACCC Taskforce is focusing on early intervention by engaging directly with businesses, relevant state and federal government agencies, and consumer and other representative groups."