The price comparison portal “How much does it cost“ has the potential to be a useful tool only if all legally obligated retailers participate in submitting data, since at the moment, with the participation of only two chains, we cannot speak of representativeness and informed choice. On the contrary, there is a risk of misleading, because consumers may have the feeling that they are seeing the full picture, but in fact they are only comparing part of the market. This was commented on bTV radio by the founder of the online platform “We, the Consumers“ Gabriela Rumenova.
“If all retail chains start submitting data, this will certainly increase representativeness and can make the platform more useful. But it is important to note something significant – price alone is not enough to make a good consumer choice. Some of the included products lack basic characteristics such as quantity, composition, manufacturer, which are critical, especially for food and essential goods, as in this case“, she pointed out.
Rumenova warned that there is a risk that consumers will focus only on the lowest price, without knowing what they are actually buying. This can lead to a compromise with quality, and such a purchase is not profitable. “The platform can be upgraded with additional data – such as quantity in the package, content or even a link to the label of the relevant product. This would make the comparison really useful and would encourage sensible shopping, not just looking for the lowest price.“, she suggested.
“And one more aspect is worth discussing. In order for the consumer to derive real benefit from this information, he must invest time in checking, comparing, planning. And if the sites are scattered, traveling between them also incurs additional costs - time, fuel, transportation. Therefore, it is important to maintain flexibility and not create the illusion that a price comparison automatically leads to a more advantageous purchase. Moreover, not everywhere in the country do these large chains have their sites, namely in smaller settlements where the most economically vulnerable consumers live.“, Rumenova pointed out.
According to her, whether the price comparison site will be truly useful to consumers also depends on how the information is presented - whether it is easy to find, understandable and practical. The user must be able to quickly navigate, and currently the possibilities for comparison are limited - for example, only up to 3 products can be compared at the same time, and it would be useful to have more. It is important not to waste time searching, because then the benefit decreases dramatically.
Rumenova highlighted the positive functionality of the site, which allows tracking the price movements of the included products from the launch of the portal to the moment of the review - something that is missing in the brochures and websites of retail chains.
“Submitting information about prices may seem simple, but in practice this is an additional administrative burden for traders - especially if it is done daily, for over 100 types of products, which means thousands of items. If these obligations are not taken into account in the real capabilities of the business, there is a risk of having the opposite effect - part of the costs being transferred to the final prices for retail customers. So, the measure aimed at protecting consumers may actually lead to increased costs for them“, the expert warned.
Gabriela Rumenova believes that the site can play a positive role in drawing people's attention to the topic of prices, but not in the way it has been happening so far. “A constant information campaign is needed to remind consumers that comparing products should not be based only on price. It is important that the consumer does not stop thinking that when making a purchase decision, he should consider not only the price, but also all other essential elements of the transaction.“, she summarized.