Monday, February 26, 2024

New supermarket pricing rules to checkout in August

New regulations to make price comparisons in the supermarket easier for customers will come into force at the end of August.

Consumer Affairs Minister, Duncan Webb said supermarkets will be required to clearly and consistently display unit pricing for grocery products, such as the price of a product per kilogram or litre.

“New unit pricing regulations are a step forward in the Government’s wider work to increase competition in the retail grocery sector,” said Minister Webb.

“This helps make working out whether tomatoes are cheaper at $6.99 per 500g punnet, $10.49 for a 700g bag, or $11.99 a kilo so much easier for Kiwi shoppers.”

“Unit pricing will support inter-brand competition and encourage grocery retailers to compete on best value for money, benefitting customers in the long term.”

He said the move will help Kiwis to make informed choices to suit their needs while shopping.

“This is particularly helpful where products are sold in different sized packaging and by various brands,” Mr Webb said.

While the regulations come into force on 31 August, there will be a transitional period before compliance is mandatory, providing retailers time to put the required systems in place.

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