Six months later... a fair deal!

We are now only a few months away from E-day and preparations are well underway for the much anticipated currency changeover. Among the many undertakings that have been carried out to ensure a smooth and successful adjustment to the euro, the FAIR initiative has undoubtedly proved to be a success with both the retailer and consumer enjoying the benefits!

FAIR, standing for Fair-pricing Agreements in Retailing, was launched by the National Euro Changeover Committee in November 2006 and aims to bridge the interests of both retailers and consumers, emphasising transparency and fairness in the pricing of goods and services. It also promotes the implementation of dual display during the whole course of the changeover process.

The use of dual display of prices acts as a highly-effective tool in empowering consumers and, ultimately, helps them get accustomed to the change in currency and to become more familiar with the new prices in euro, thus paving the way to a smooth and efficient changeover.

FAIR is a guarantee of fair pricing and peace of mind. Through FAIR, consumers are encouraged to become confident when making their purchases in the new currency. With the introduction of FAIR, consumers now have the certainty that retail outlets subscribed to this initiative and displaying its trust mark on the front window are offering price stability and a safe shopping environment.

Through FAIR, the retailer has also gained immeasurably, earning consumer's trust and customer retention. By promoting reliability and customer protection, and by abiding to FAIR's main principles, such as using the correct central parity rate throughout the changeover process, the retailer is now enjoying the many benefits this initiative offers.

The retailer is granted FAIR on the implementation of at least one customer-facing dual display requisite such as dual display on shelving or on individual retail items. Once compliance is confirmed, the retailer is awarded the FAIR trust mark, which constitutes a visible sign of the commitment taken to promote fairness and transparency of prices.

During the last six months, about 5,000 retail outlets have signed up to FAIR, binding themselves to ensure this commitment of price stability and fairness. More than half of these outlets have already been awarded the FAIR trust mark after having correctly converted many of their shelving and item prices or price lists. This provides clear proof of the retailer's unwavering drive and commitment to the FAIR initiative and the euro changeover process.

Over the past six months, the FAIR initiative was given extensive coverage in the media and, therefore, its message has been conveyed to both retailers and consumers who had the opportunity to evaluate and contemplate FAIR's several advantages. Due to this widespread publicity as well as to the sterling work of 70 euro assistants who have visited practically every retail outlet in Malta and Gozo, educating retailers and encouraging a wide-ranging awareness exercise, the Euro Observatory is receiving hundreds of FAIR applications weekly.

The excellent job being carried out by the euro assistants was clearly evidenced by the amount of applications that are being received daily by the Euro Observatory.

The NECC also receives numerous phone calls on euro line 154. A substantial amount of these phone calls are made to enquire specifically about FAIR, indicating the extensive interest the FAIR initiative has managed to instil.

As a result of the FAIR initiative and its apparent success, consumers feel more confident to make their daily purchases from retail outlets subscribed to FAIR. Moreover, through activities that seek to ensure that price increases because of the euro are kept under control, the public is being constantly reassured that the price paid for basic consumer products will not inflate drastically overnight. This surely helps to alleviate many of the apprehensions consumers may have. FAIR is undoubtedly an effective way to curb abuse, to promote good practice among retailers and to secure the public's peace of mind. This initiative ultimately ensures an efficient and smooth transition to the adoption of the euro for the benefit of us all!

Ms Camilleri is a NECC euro assistant.