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.
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.
"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, [email protected], https://www.ncwm.com/
SOURCE NCWM
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