The funerals market study
First published by Author on October 19, 2018 in the following categories: Industry Investigations Latest and tagged with cma | competition law | market study
The funerals market study is a currently being conducted by the CMA (Competition and Markets Authority) in the UK.
The scope of the funerals market study is to find out more information about the market to ensure it’s working fairly and efficiently. The key areas being assessed by the CMA include customer behaviours, customer experiences and decision-making processes that have led to customer decisions.
The review was initiated in summer this year and remains ongoing.
Scope of the funerals market study
The scope of the CMA’s funerals market study, according to their publications, is based on the following key areas:
- How competition between funeral directors works;
- Transparency issues in the provision of funerals;
- How competition works in the crematoria segment of the industry.
As with any market study undertaken by the CMA, the ultimate aim is to ensure that the rules and regulations they enforce are being adhered to. Laws like the Competition Act 1998 are incredibly important. This legislation allows for fair and consumer-focused markets instead of big businesses abusing their financial power.
Competition should be healthy, and this is for the benefit of the industry and the consumer. If the CMA were to find any issues during the course of their funerals market study, they have the power to take action. This involved heavy fines for organisations who breach important competition law.
Comments from interested parties in the funerals market study
Comments from interested parties in the funerals market study have been received. Parties responding include the following:
- A Natural Undertaking Limited;
- About the funeral;
- Age UK;
- Association of Private Crematoria and Cemeteries;
- Avalon Funeral Plans;
- AW Lymn Limited;
- Barnsley Metropolitan Borough Council;
- Beyond;
- Bristol Funeral Directors;
- Citizens Advice (several);
- Co-operative Group;
- CPJ Field;
- Cruse Bereavement Care;
- Dignity plc;
- Fairer Finance;
- FFMA;
- Funeral Directors and Monumental Masons;
- Funeral Partners Ltd;
- Funeral Zone;
- Good Funeral Guide;
- Hampshire Trading Standards;
- Harold Wood Funeral Services Ltd;
- Inspector of Funeral Directors;
- Kevin Cobbold Funeral Services;
- M Garton and Son;
- National Association of Funeral Directors;
- National Federation of Cemetery Friends;
- Natural Death Centre;
- Quaker Social Action;
- Richard Blake;
- Royal London;
- SAIF;
- Scottish Government;
- St Margarets Hospice;
- The Individual Funeral Company;
- Victoria Allen Funeral Services;
- Westerleigh;
- Which;
- William Purves.
You can read more about the funerals market study on the CMA website here.