The Good Guys has agreed to pay a $13.5 million fine to settle allegations its "StoreCash" promotion was misleading and deceptive.
The Australian Competition and Consumer Commission sued the retailer in The Federal Court over the marketing strategy last July, alleging it violated consumer law.
The Good Guys promised to provide customers with store credit for simply buying goods - such as $50 in "StoreCash" for a $500 purchase - but the retailer didn't disclose they also had to opt-in to receive marketing communications, the ACCC said at the time.
The retailer also didn't adequately mention the credits expired quickly, mostly within seven and 10 days, the ACCC said.
The promotion ran from July 2019 to August 2023.
"The Good Guys takes its compliance with the law very seriously and has worked co-operatively with the ACCC to resolve the matter," the electronics and home appliance retailer said in a statement on Monday.
"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."
A division of JB Hi-Fi Limited, the retailer has also agreed to conduct a remediation program for some customers and to contribute $200,000 to the ACCC's court costs.
The ACCC said the agreement was subject to Federal Court approval and full details of the outcome would be made public when the court announced its judgment.
