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Manila Bulletin devider Business devider Trade & Industry devider DTI fasttracks AI-powered e-Presyo app rollout

DTI fasttracks AI-powered e-Presyo app rollout

Published Apr 22, 2024 04:24 am

The Department of Trade and Industry (DTI) said it is fasttracking its efforts to launch the e-Presyo app, which is seen to replace the suggested retail price (SRP) bulletin issued currently to guide consumers on market prices of basic necessities and prime commodities (BNPCs).

Speaking with reporters on April 19, DTI Assistant Secretary Amanda Nograles of the Consumer Protection Group (CPG) likened the e-Presyo interface to the Waze app, a road navigation platform.

Using a map-guided system, the app can provide consumers real time information on market prices of BNPCs. 

"E-Presyo is like crowdsourcing information. Manufacturers, retailers, and even the consumers, and price monitors can input the prices of the products. Then, through artificial intelligence (AI)-powered technology, it can indicate the location where you can source the cheapest price for products," explained Nograles.

Since it is AI-powered, it can vet or filter the information, assuring the data inputs by the businesses and the wider public are accurate, she added.

This aims to strengthen the agency's mandate to protect consumers' right to information and guidance when they purchase BNPCs. It also seeks to become the agency's primary online price monitoring system (OPMS).  

"This was thought of by Secretary Pascual (Alfredo E. Pascual) to make the consumers less dependent on the SRP bulletin which is -- number one incomplete, number two not in real time number three, only a few are indicated. For this, you can input all information available and everyone can take part,"  Nograles added.

The app will be free of use for all once it is available. The agency have yet to determine a timeline for the possible launch of the app.

A version of the e-Presyo can be accessed online, but Nograles said they are still in the data keep-up phase due to the sheer volume of data, which includes all BNPCs (270 BNPCs in the SRP and other 256 BNPCs monitored but not included in the bulletin) in all retail stores in key cities in Metro Manila.

"We have to correct the system first. We're still in the software development phase," she added.

Unit cost in SRP bulletin

In lieu of e-Presyo, Nograles said they will continue to use the SRP. To make the SRP more efficient as a  guide for consumers, they will be adding a new feature to the SRP, which is a third column, showcasing the unit cost of items in the bulletin.

The added information is a way for the agency to address issues concerning shrinkflation.

"When consumers look at the prices of items and products, it's not easy to compare because the grammage (g and ml) are different. Now, we're requiring the unit cost, so the consumer can easily identify the cheaper items depending on the brand," said Nograles.

She noted that the proposed feature was received positively by manufacturers, saying it was a "welcome compromise." Prior to the feature, the agency considered standardizing the grammage, but manufacturers said that would be more difficult to follow due to varying costs.

As for the release of the complete SRP bulletin, which was previously announced to be within the first quarter of 2024, Nograles said they have decided to "wait for the 29 percent remaining manufacturers (who applied for the price adjustment) to advise us when the prices adjustments are effective in the store fronts, then we collate everything and publish."

 

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