Dual-displayed Price Labels and Other Specific Problems

Have you also thought about the need to educate your customers? When will you introduce the dual-display labels?


Prisma's educational approach to dual-displayed pricing


It is in the supermarket's best interest to start communicating as early as possible with customers. To ensure a smooth transition retailers and supermarkets should run information campaigns throughout the transition period to inform customers how the conversion will be organised in the shop. Failure to have a good communications strategy could result in confusion and a decline in customer service. Ultimately this means higher costs and less business transacted.


One euro, in almost all continental countries, will be worth more than one unit of the present currency. For example, 100 grammes of your favourite salt liquorice will cost you, say 4.16 Finnish marks or 0.73 euros, and 110 grammes will increase the strain on your pocket money to 4.32 Finnish marks or 0.75 euros. In the new currency, the price difference will seem less because it will be just a fraction. The consequence of this reduced price elasticity will encourage retailers to make their products cheaper as the psychological effect on which national prices are set will no longer apply.


What kind of specific problems is Hämäläinen expecting?



An example of the pricing problem


Links:
Euro converter: change any currency into euros

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© Isto Felin & Stéphan Martin / Nettiradio Mikaeli 1998