We already have behind us the first full month of the introduction of the euro in our country. This was also the most difficult month, since dual currency circulation was in operation in it. This was stated in an interview for the program "Newsroom" on Radio FOCUS by Bogomil Nikolov, executive director of the association "Active consumers".
According to him, during this period there were numerous signals of misunderstandings between merchants and consumers, mainly related to change. "But I never heard of a single case in which a consumer received the wrong change. At least we have not received such signals, which is actually good news", emphasized Nikolov. The disputes were mostly about whether the change should be returned in euros or leva, but this stage has already passed.
"The only thing that remains is the increased sensitivity to prices. And here too I am optimistic", he added. According to him, representatives of various industry organizations already admit that some traders have tested new, higher prices, but in the absence of interest from customers, they are ready to respond with promotions. "That is exactly what I believe too - that even if there were unscrupulous traders or speculators, the market will bring them to their senses. This is inevitable. Simply because no one will go to a hairdresser with a 300% increase in the price", Nikolov pointed out.
He was categorical that such traders will lose their customers themselves. "It is not the sanction from the CPC or the NRA that will bring them back to correctness, but the consumers themselves, through their behavior. They will punish unreasonable traders“, added the executive director of “Active Consumers“.
“Therefore, I am convinced that we as consumers should have the self-confidence of a judge, not a victim who pays any price they are shown“, emphasized Nikolov.
He also drew attention to one major exception in the market - sectors with no or weak competition. “We are talking about monopolies, oligopolies and similar structures. The introduction of the euro can shed light on precisely such sectors where these attempts to raise prices will become clearly visible“, he said.
According to him, in the first two months, the main burden of control was borne by the NRA and the CPC, but if monopolistic or oligopolistic practices are established, the active intervention of the Commission for the Protection of Competition will be necessary. "We will rely on the CPC to start proceedings and gradually, over time, to sanction such markets and traders", Nikolov added.
At the moment, the transition to the euro seems smooth, but it also remains a purely psychological challenge. "The experience of other countries shows that people adapt differently to the new prices. Some need about six months", he explained. Until August 8, the dual designation will continue in our country, which allows people to still think in leva. "After this date, only prices in euros will remain and it is important that we ourselves try to switch our thinking in time so that it is not more difficult for us on August 9", Nikolov pointed out.
He also warned of another psychological effect - some consumers perceive prices in euros as lower, which can lead to overconsumption. "This should not mislead us, because after that the money runs out earlier", he also said.
According to Nikolov, the experience of other countries shows that around the sixth month most people completely stop thinking in the old currency.
In conclusion, Bogomil Nikolov also gave practical advice: "Paying with a debit card is very cheap because there is no commission. People who have so far preferred cash can save money by withdrawing money from an ATM, as the fees are already quite high. Now is a very good time to switch to paying with a card.“