Report discloses results of thousands of inspections across
eleven retail categories in twenty-six states.
LINCOLN,
Neb., July 11, 2024 /PRNewswire-PRWeb/ -- The
retail trade industry is a significant part of the United States economy, making pricing
accuracy critical to consumers and retailers. Consumers should not
be charged more than advertised, and retailers need to have best
practices in place to avoid those overcharges or potential
undercharges that cut into their profits.
Good pricing practices in retail stores are
vital to consumer confidence and a level playing field for
retailers.
The National Conference on Weights and Measures (NCWM) has
published its report containing the results of a 2024 National
Price Verification Survey. The report contains the results of 7,462
inspections across 26 states, verifying price accuracy of 419,237
individual items. Inspections were performed between January 1 and February 29, 2024.
Marc Paquette of the Vermont
Agency of Agriculture Food and Markets coordinated the survey and
drew the following broad conclusions:
- 1,711 (23%) retail locations failed the inspection.
- Of the 5,751 (77%) locations that passed the inspection, 1,508
of those locations still had some price errors.
- The survey covered 11 categories of retail businesses and
indicates that certain categories have higher pass rates than
others.
- There are significant areas for improvement in overall pricing
accuracy.
See Full Report Here.
"Good pricing practices in retail stores are vital to consumer
confidence and a level playing field for retailers. This survey
serves to educate stakeholders and can be used to encourage ongoing
efforts in support of pricing accuracy," said Paquette.
NCWM Chairman Gene Robertson of
the Mississippi Department of Agriculture and Commerce called for
this survey. It was a collaborative effort between NCWM and the
National Institute of Standards and Technology (NIST) Office of
Weights and Measures. "This initiative puts a spotlight on the
value of our weights and measures inspection programs across the
country in just one of the many ways that they benefit consumers
and businesses by providing equity and a level playing field in the
marketplace." said Robertson. "We had a great response, with
several hundred officials from 26 states contributing inspection
data over a two-month period. The training element was essential to
ensure uniform methods of inspection, data collection, and data
reporting."
John McGuire of the NIST Office
of Weights and Measures provided that training. NIST has a
responsibility to promote uniformity of weights and measures among
the state in commerce. Training is one of the ways that they pursue
that goal. McGuire stated, "The results of this report should
assist and inform the retail industry, consumer organizations, and
state compliance programs of the present needs and opportunities to
establish improved pricing practices and oversight of retail
establishments.
The NCWM is a professional not-for-profit association of state
and local weights and measures officials, federal agencies,
manufacturers, retailers, and consumers. The NCWM develops uniform
and equitable weights and measures standards to promote commerce
and fair competition by ensuring marketplace equity for consumers,
fostering confidence in commercial transactions, and advancing
economic growth.
Media Contact
Don Onwiler, NCWM, 1
402-464-4880, don.onwiler@ncwm.com, https://www.ncwm.com/
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SOURCE NCWM