But the retailer "should have taken a more cautious approach to representations it made about product availability and delivery time frames".
"During the changing Covid-19 Alert Levels consumers had reduced ability to shop around for available or alternative products. Consumers were, therefore, heavily reliant on representations about availability and delivery times," Rawlings said.
The commission said Noel Leeming had co-operated with the investigations and had since "amended its approach to delivery representations".
Noel Leeming chief customer officer, Jonathan Waecker, said the electronics group had learnt from the experience.
"As always, we were trying to do the right thing, but given the extreme pressures lockdown placed on our systems and our team, we weren't able to manage it in this instance. We've learnt from it."