New ISO standard to improve informed consumer choice
Consumers International has welcomed the release of an ISO standard on unit pricing, which provides consumers with the price of products per standardised unit of measure, for example per kg or per litre.
Unit pricing is a simple but powerful tool that helps consumers to quickly and easily make informed choices and obtain value for money. It also increases competition between retailers and between product manufacturers.
Unit pricing can be used for many types of product comparisons including between:
- brands and package sizes
- packaged/unpackaged products
- special offers/regular prices
- types of packaging
- similar/substitute products.
It also helps consumers to spot when prices have increased due to package downsizing.
A major step forward for consumers everywhere
Our representative on the ISO Project Committee that developed the standard, (ISO 21041 “Guidance on unit pricing”), Ian Jarratt, from Australia, outlined that “this is a major step forward for consumers everywhere because it will help to increase the provision of unit pricing by retailers who currently do not do so, and the quality of the unit pricing currently provided.”
Consumers International was an active participant in the development of the standard, which reflects the input of our members around the world.
We also welcome the standard’s emphasis of the need for unit prices to provide information for consumers that is clear, easy to read and noticeable, both in physical stores and online.
Importantly, the standard emphasises the need for ongoing consumer education about what unit pricing is and how to use it. The standard also mentions the need to monitor, maintain and improve unit pricing systems.
To learn more about Consumers International’s work on international standards, see here.