The recent mandate requiring the printing of both ‘date of manufacturing’ and ‘unit sale price’ on packaged items, effective from January 1, represents a significant advancement in consumer rights and market transparency. This policy, introduced by consumer affairs authorities, aims to empower consumers with more detailed information about the products they purchase.
Detailed Overview of the New Mandate
1. Importance of Displaying Date of Manufacturing:
- Consumer Awareness: The inclusion of the manufacturing date on packaging helps consumers gauge the freshness or age of the product. This is particularly relevant for food items, where freshness is directly linked to quality and safety.
- Product Lifecycle: For non-food items, this date can help consumers understand the product’s lifecycle, potentially impacting their decision on whether to purchase it or not.
2. Rationale Behind Unit Sale Price Printing:
- Facilitating Price Comparison: The display of unit sale price enables consumers to compare prices across different brands and package sizes more effectively. It breaks down the total cost into a standardized unit price, making comparisons more straightforward and transparent.
- Examples of Application:
- For bulk items like a 2.5 kg bag of wheat flour, the unit price per kilogram will be displayed along with the total MRP.
- For smaller items, such as spices or condiments, the price per gram will be shown, making it easier for consumers to assess value for money across various product sizes.
3. Impact on Consumer Behavior:
- Informed Decisions: With this added information, consumers can make more informed decisions based on both the age and the unit cost of a product.
- Consumer Empowerment: This policy is expected to empower consumers, providing them with critical information that was previously less accessible or not standardized.
4. Potential Market Impact:
- Increased Competition: Companies might face increased competition as consumers now have a clearer basis for comparison.
- Market Transparency: The overall transparency in the market is expected to improve, which could lead to better product offerings and fairer pricing.
5. Implementation and Compliance:
- Regulatory Oversight: Authorities will monitor compliance with these new requirements to ensure that companies adhere to the guidelines.
- Consumer Awareness Campaigns: It’s anticipated that consumer rights organizations and governmental bodies will conduct awareness campaigns to educate the public about these changes and their significance.
Conclusion
This regulatory change is a progressive step towards enhancing consumer knowledge and market fairness. By making the age and price per unit of products clear, consumers are better equipped to make choices that suit their needs and budgets. As the market adapts to these new rules, it is expected that there will be a broader impact on how products are marketed, priced, and perceived by consumers.