Barbados Consumer Empowerment Network (BCEN) says it has some concerns about the recently launched price check platform.
The free service of the Department of Commerce and Consumer Affairs aims to provide up-to-date information on essential consumer goods, enabling shoppers to find the best deals.
Below is a statement issued by BCEN:
BCEN, believes in supporting initiatives that seeks to improve consumer well-being. We see the Government’s price app as a step towards increased market transparency and convenience for consumers.
Bottom line the price app is a useful tool, but it is just that; a tool. It is not a substitute for real market competition, government regulation, or the power of informed and active consumers in Barbados. As consumers celebrate the price app, they must also take a closer look at how it works, what it offers, and, more importantly, what it cannot do on its own.
BCEN notes the potential of the app to save consumers time by eliminating the need for in-person price comparisons. The app should also provide consumers with the ability to quickly compare prices across various retailers, so that they can make more informed choices and save time and also engage in healthy eating habits through a “healthy food basket.”
Rightly so, the government has taken a phased approach to the rollout of the app which suggests that the government is thinking long-term about expanding the app’s utility and capability
However, BCEN has some questions about price accuracy, retailer participation, inclusiveness for those without digital access, and the potential impact on actual price reductions. These issues remain unaddressed and the public needs to hear more on these issues from government. A more balanced approach, including voices from consumers and independent experts, would have given this app the wide spread acceptance that it deserves.
Consumers need to question the app’s data accuracy, the possibility of price manipulation by retailers, or whether such tools have a proven track record of empowering consumers. It would be helpful to know whether such apps have successfully influenced market competition in other countries or regions.
Questions Consumers Should Ask about the Price App
How accurate and up-to-date will be the pricing information?
Is there room to include small retailers, especially small local businesses?
Is the app accessible to everyone? Not everyone has access to smartphones or reliable internet service.
How can consumers who are less tech-savvy benefit from this initiative?
What are the range of products covered by the app?
Can consumers report discrepancies? Is there a way to report it and have it corrected?
These questions are not just important and consumers deserve answers to these questions because while the app may be helpful in comparing prices, it’s only as effective as the information it provides.
Just Price Listings Comparisons? What About Real Savings?
Consumers must think about whether having access to price data necessarily translate to more savings, or could it be the case that retailers will still maintain high prices across the board? This issue seems to have been over looked by officials in favor of optimism about the app’s potential. BCEN wants to make it clear to consumers that listing prices in an app does not automatically lead to savings. Price information is not the same as lower prices.
The app can show consumers where prices are higher or lower, but it cannot guarantee that prices will actually drop. The public should be aware that lower prices come from true market competition and consumer demand, not simply from being listed in an app.
Consumers should be mindful to ensure that retailers are not just using this app to influence buying habits while keeping prices high in the background. Consumers must avoid the trap of believing that they are saving money simply because they are using an app to compare prices. The real savings happen when consumers are paying less at the cash register for the products they need.
What Consumers Should Be mindful of
As consumers navigate this app, BCEN urges you to be mindful of several things:
1) Understand that a low price is not always the best deal.
2) Check the reliability of the stores featured in the app. Is there transparency about the quality of products, return policies, and warranties, especially for more expensive purchases like electronics?
3) Beware of marketing tactics.
4) Stay conscious of accessibility. Not everyone has the same access to this tool, and it should not replace other forms of price transparency, such as in-store signage or advertisements that reach a broader audience.
Recommendation
BCEN calls on government to continuously improve the app to complete the phases. We recommend that there be mechanisms in place to ensure that prices are updated regularly and that retailers both big and small, are included. The app should also provide features that allow consumers to report inaccuracies and suggest improvements.
We also encourage the government to accompany this app with an education campaign to help consumers understand how to use it effectively and make the most of its features. Additionally, the app should be accessible to everyone whether through expanded digital access or other methods for those without smartphones or internet connection
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