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MEIC Found Large Price Differences of Electronics Throughout Costa Rica

We all know the inconvenience of shopping around in Costa Rica for electronics, fighting traffic, wasting time going to different stores, and paying the huge taxes the Costa Rican government imposes for imports . However, it might be just worth the time and effort to do a little recon to see what prices are at different places. The Ministry of Economy (MEIC) found significant differences in spot prices and interest rates of the same appliance sold in different businesses.

costa rica electronicsIn a study from the 11th of July to the 24th of July of 46 establishments in the greater metropolitan area, the agency found that a coffee maker Proctor Silex 48524 in the Almacén Mario Víquez  in downtown San Jose, costs ¢ 11,250, in La Curacao Coronado Desamperados ¢ 20,000, for a difference of ¢ 8,750 (78%).

A Panasonic screen TCL32C3X costs ¢ 150,000 in Pali Maxi Desamparados, compared to ¢ 229,900 it costs in Play Zapote. The difference was¢ 79,900 (53%).

An electric skillet YD12 Durabrand brand is valued at ¢ 14,240 in MaxiPalí Desamparados and ¢ 19,900 in Walmart Sam Sebastian, Guadeloupe and Alajuela. A difference of ¢ 5,660 (40%).

There are also every large differences when you are making payments on an item instead of paying for it at the spot price.

While in Tres Rios Gollo an item (the study is not detailed) that costs ¢ 149,899 cash at the end of term costs ¢ 216,618, in Gollo Zapote (spot price of ¢ 154,183) the property comes at ¢ 222,618, in Casa Blanca Mercado Central , Novacentro and Desamperados (counted from ¢ 149,990) costs ¢ 223,876, in El Verdugo de Tres Ríos, Alajuela and Heredia centro (¢ 149,900) out at ¢ 244,756. The same price is Importadora Monge Morazan, Central Avenue, Three Rivers and Alajuela.

The MEIC identified the lowest price in Tres Rios Gollo ¢ 216,618, and Camarasa, in Cartago, that good comes at                   ¢346,780, for a difference of ¢ 130,162.

The study also identified several problems on the part of businesses:

1. Businesses do not advertise in the tags to pay the final price on items on credit.

2. No report on the label on the collection of fees.

3. Effective rate incorrect.

4. Term not expressed in months, but in fortnights.

5. Not told how much the buyer canceled the quota is allocated to capital and what is of interest.

The Deputy Minister of the Department, Luis Alvarez, director of the Office of Consumer, Cynthia Zapata, both highlighted the importance that customers are aware of these details, but also to the fact that if the advertising business reports a price, this should be presented at the time of sale.

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