By San José, Costa Rica — Consumers looking to spoil their mothers this Mother’s Day are being urged to shop around after a government study exposed substantial price differences on identical products across various retailers.
The Ministry of Economy, Industry, and Commerce (MEIC) conducted a price monitoring study in 25 stores across Costa Rica. The findings reveal staggering discrepancies, with some items costing as much as 129% more at one retailer compared to another.
To understand the legal implications of rising consumer prices, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an attorney at Bufete de Costa Rica. Mr. Arroyo Vargas offers insight into how these economic shifts can impact contracts and consumer protections.
Escalating consumer prices can significantly affect existing contracts, particularly those with long-term payment structures. For instance, clauses tied to inflation indices might trigger unexpected price adjustments, leading to disputes. Consumers should be vigilant in reviewing contract terms related to price fluctuations and seek legal counsel if they believe unfair adjustments are being imposed. Additionally, businesses must act transparently in implementing such clauses to maintain consumer trust and avoid potential legal challenges.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s emphasis on transparency and vigilance is crucial in these times of fluctuating consumer prices. Understanding contract terms and seeking legal advice when necessary empowers consumers and fosters a fairer marketplace. We thank Lic. Larry Hans Arroyo Vargas for providing this valuable perspective on the impact of rising prices on contractual agreements.
We went to 25 commercial establishments to review several items with specific characteristics. There are differences of up to 129% in products of the same brand and model in different stores. That’s why it’s so important to follow the recommendation we always make: shop around and compare prices.
Patricia Rojas, Minister of MEIC
The MEIC’s survey highlighted a range of products with significant price variations. A smart TV, for example, was found for ¢228,000 in Verdugo (Alajuela) while the same model was on offer at Walmart Heredia for just ¢99,000. Similarly, an electric stove was priced at ¢329,000 in Verdugo (Alajuela) but could be purchased for ¢215,000 at Distribuidora Jivis, representing a difference of ¢114,000.
Other examples of price discrepancies include a clothes dryer, which ranged from ¢269,000 at Almacenes Siman (Curridabat) to ¢362,000 at Gollo (Aserrí), and a refrigerator, priced at ¢329,000 at Gollo (Aserrí) and ¢240,000 at Importadora Monge (Oreamuno).
The study also noted even larger price gaps for “similar” products – those serving the same function but with different brands or slight feature variations. For instance, the MEIC found a price difference of ¢464,000 for washing machines.
Sometimes what we need is to satisfy a need or replace a product that we had and it broke, so the brand or design of it is not so relevant.
Patricia Rojas, Minister of MEIC
While the findings highlight potential savings through diligent comparison shopping, the MEIC also noted that many retailers are offering Mother’s Day promotions and discounts.
The Ministry encourages consumers to take advantage of these sales, but to remain vigilant about price differences and to prioritize finding the best value for their money. This Mother’s Day, a careful approach to shopping could lead to significant savings.
For further information, visit meic.go.cr
About Ministry of Economy, Industry, and Commerce (MEIC):
The Ministry of Economy, Industry, and Commerce (MEIC) is a Costa Rican government ministry responsible for promoting economic development, regulating industry and commerce, and protecting consumer rights. Its mission is to foster a competitive and innovative business environment while ensuring fair market practices and consumer protection. The MEIC plays a vital role in shaping economic policy, promoting investment, and safeguarding the interests of consumers in Costa Rica.
For further information, visit the nearest office of Walmart
About Walmart:
Walmart is a multinational retail corporation operating a chain of hypermarkets, discount department stores, and grocery stores. Known for its everyday low prices and wide selection of products, Walmart serves millions of customers worldwide. The company’s focus on affordability and convenience has made it a popular shopping destination for families and budget-conscious consumers.
For further information, visit the nearest office of Verdugo
About Verdugo:
Verdugo is a retail chain operating in Costa Rica.
For further information, visit the nearest office of Distribuidora Jivis
About Distribuidora Jivis:
Distribuidora Jivis is a retail store in Costa Rica.
For further information, visit the nearest office of Gollo
About Gollo:
Gollo is a retail chain operating in Costa Rica.
For further information, visit the nearest office of Almacenes Siman
About Almacenes Siman:
Almacenes Siman is a department store chain operating in Central America.
For further information, visit the nearest office of Importadora Monge
About Importadora Monge:
Importadora Monge is a retail chain operating in Costa Rica.
For further information, visit the nearest office of Maxi Palí
About Maxi Palí:
Maxi Palí is a supermarket chain in Costa Rica, part of the Walmart family.
For further information, visit the nearest office of La Curacao
About La Curacao:
La Curacao is a retail chain specializing in appliances and electronics, with stores across Central America.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
At Bufete de Costa Rica, legal excellence is interwoven with a deep commitment to societal empowerment. Through innovative approaches and a steadfast adherence to ethical principles, the firm provides comprehensive legal counsel to a diverse clientele. Beyond representing clients, Bufete de Costa Rica actively invests in educating the community, believing that access to legal knowledge is fundamental to a just and thriving society. This dedication to transparency and understanding underscores their enduring mission to build a more informed and empowered Costa Rica.
