Be Alert During Back to School Shopping13/04/2017 15:31
Be Alert During Back to School Shopping
11 January, 2017
The Consumer Council of Fiji is urging parents and students to be vigilant when doing back to schoolshopping.
A survey on a total of twenty-seven (27) bookshops and supermarkets in the Central, Western and Northerndivisions regarding the prices of exercise books have been carried out by the Council.
A comparison of prices was done from 2016. It is found that current prices of exercise books have mostlyincreased by 10 cents to 20 cents. According to the traders, the reason for the price increase is due to the highproduction costs incurred by the suppliers of exercise books.
Prices of certain exercise books such as Accounting Cash and Ledger have decreased from $1.50 to $1.45while prices of 3B science books remained the same at 85 cents when compared to its prices in 2016.
The Council is advising retailers to be ethical and set correct profit margins on exercise books, text books andstationery, as specified under the Counter Inflation Order 1993. According to the schedule of the CounterInflation Order 1993, retailers need to adhere to the following profit margins:
- Wholesale price plus 40% profit margin – stationery and related commodities (imported) thatincludes exercise books, crayons, coloured pencils, pencil sharpeners, rubbers/erasers, pencils,book keeping cash-journal-ledger, ball pens, drawing books, note books, etc.
Wholesale price plus 35% profit margin – text books (imported).
The Council is also calling for the Fiji Commerce Commission, who is the price regulator in Fiji, to ensurethat retailers abide by the profit margins as stipulated in the Counter Inflation Order 1993. Only markups thatare reasonable and fair must be imposed.
Consumers are further encouraged to shop around, compare prices of exercise books, text books andstationery, to make wise purchases.