- Popular holiday toys are being bought and sold by bots at significant markups.
- Many are out-of-stock through traditional retailers like Toys R Us,
- Some are being sold for up to 162 times their listed price.
- Sen. Chuck Schumer is calling on retailers to take steps to prevent the problem.
If you've had trouble finding popular Christmas gifts like Fingerlings and the NES Classic Edition online, you're not alone.
According to Sen. Chuck Schumer, "cyber scalpers" have been buying large quantities of in-demand products with computer programs before consumers have the chance to do so — then selling them for large markups.
Schumer said in a statement
)
)
)
He continued:
- Fingerlings, perhaps this year's signature holiday gift, were sold out on Toys R Us, Walmart, and Target's websites. They were available from third-party sellers on Amazon and eBay for up to $1,000, a 6,660% increase on their listed retail price of $14.99.
- Nintendo's NES Classic Edition, listed at $79.99, was not available through Best Buy, GameStop, or Target. It was listed on Amazon and eBay for upwards of $13,000.
- The $300 Barbie Hello Dreamhouse was unavailable at Toys R Us. Consumers would have to pay up to $1,500 on Amazon and eBay.
- L.O.L Surprise! Doll, priced at $9.99, could not be found through Toys R Us, Target, or Walmart. Instead, it was listed for up to $500 on Amazon and eBay.