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12° Nicosia,
30 May, 2024
 

E-kalathi: Your digital tool for smart shopping

What to expect from the new platform for retail product price monitoring

Maria Eracleous

Maria Eracleous

Based on the timeline, the implementation of e-kalathi, the new digital platform for monitoring retail product prices, is expected to take place around early 2024. The bill has been given the green light by the Council of Ministers and will soon be presented to the Parliament. Once passed, e-kalathi will be available as a smartphone application for consumers to use.

Kathimerini had the opportunity to speak with Aliki Iordanous, the head of the competition branch, and the Consumer Protection Service to learn more about the implementation timetable and changes made to the original draft. Here's what you need to know:

  • Food retailers with an annual turnover of more than EUR 2 million in the financial period before the decree's enactment will be required to submit prices. Smaller businesses can also participate in the platform voluntarily.
  • Bakeries are excluded from the platform, but price comparisons with similar types of businesses are still allowed.
  • Prices will be updated automatically on the platform, and the retail price of the day will be available every day at 8 a.m.
  • Product categories will be introduced by the Minister of Energy, Trade and Industry, who will select the codes with the highest consumption and weight in a household's basket.

The digital tool for product price monitoring is expected to be ready around the beginning of 2024, following the approval of the Parliament and the selection of a contractor to create the software. The bidding process will take approximately two months, with an additional six months for the successful bidder to prepare the software.

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Cyprus  |  business  |  consumer

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