Experts talked about the consequences of limiting discounts on marketplaces: what is known

The heads of major banks have proposed banning marketplaces from investing in discounts and bonus programs, citing the need to level the playing field. Industry representatives, lawyers and economists have come forward with opposing assessments of the initiative, warning of its consequences for prices and market development. All the details are in the Izvestia article.

What is known about the banks' offer

On November 20, the heads of banks sent a letter to the chairman of the State Duma Vyacheslav Volodin, where they pointed out the need to prohibit intermediary platforms from financing price cuts through discounts, promotions and bonus programs. According to the authors of the letter, the exception should be maintained for the sites' own products and socially significant categories. In the document, the bankers referred to EU regulations that limit anti-competitive subsidies and pricing mechanics of large digital platforms.

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On November 24, the head of the Central Bank of Russia, Elvira Nabiullina, proposed to the Minister of Economy, Maxim Reshetnikov, to limit banking products offered by marketplaces. In addition, Nabiullina insists on banning the sale of products of subsidiary banks on marketplaces.

The Ministry of Economic Development, in turn, reported that the departments are considering proposals from the Central Bank to limit the ability of marketplaces to set discounts on goods. They also noted that any restrictions on discounts or ongoing programs should be considered comprehensively.

How did marketplaces and lawyers react?

Wildberries founder Tatiana Kim said on November 21 that marketplaces use their own funds to ensure the availability of goods. She stressed that the loyalty program is a generally accepted mechanism used in many market sectors. In addition, according to her, the restriction of discounts can provoke an increase in inflation and worsen the availability of goods in different regions.

Lawyer Andrey Alyoshkin noted that the ban on loyalty programs contradicts the current legislation. He believes that the discount policy is the right of the sites and cannot be limited in the interests of individual market players. In his opinion, taking the measures proposed by banks will harm consumers, while only the initiators of the appeal will benefit.

Economist Maxim Chirkov said on November 21 that the state should act as a "mediator" between the banking sector and digital trading platforms. He stressed that the authorities need to work out a solution that will keep the minimum prices for buyers. Chirkov admits that restrictive measures will lead to an increase in costs, as marketplaces will be forced to compensate for the loss of marketing tools.

Economist Alexey Rodin also stressed that the initiative of banks to ban discounts on marketplaces is a manifestation of unfair competition.

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What amounts are we talking about and can this affect the range and prices?

What will be the consequences for the market

In turn, economist Igor Didenko said that the banks' initiative is unlikely to be implemented quickly. He believes that the issue is political in nature and requires a comprehensive regulatory review. According to him, the state will have to ensure fair competition rules, preventing manifestations of monopoly.

The expert emphasized that marketplaces perform a significant social function by offering products at a more favorable price compared to other sellers. He noted that the ban on loyalty programs could be negative news for consumers and restrict access to cheap goods. At the same time, it remains necessary to take into account the interests of all parties, including banks, buyers, and the online platforms themselves.

According to Alexey Kuzmin, Chairman of the Board of JSC National Savings Bank, instead of strict restrictions, it is advisable to establish uniform standards for marketing mechanics. He believes that banking services have become a natural part of marketplace ecosystems and provide convenience of choice and transparency of terms. Kuzmin noted that uniform rules for displaying conditions and mechanics will allow maintaining competition without prejudice to the development of financial services.

The economist explained that it is necessary to adjust marketing tools, not the products themselves, since restrictions can slow down the pace of development of digital ecosystems. At the same time, regulation should eliminate the hidden advantages of affiliated structures and ensure equal opportunities for all market participants. This approach, in his opinion, will protect consumers and keep the market dynamic and competitive.

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