Retailers Urged To Be Fair About Decimal Conversion

Taupo Times, Volume XIV, Issue 69, 2 September 1965, Page 5

Retailers Urged To Be Fair About Decimal Conversion

Retailers were strongly advised this week to adhere to strict conversion of prices from £.s.d. to decimals, as set out in official tables issued by the Decimal Currency Board. No aspect of the changeover is of greater importance to the public than pri^e conversions, Mr S. L. Moses, chairman of the Decimal Currency Board, told a seminar arranged in Auckland by the Institute of Management.

" Unfair conversions during the changeover will undermine the public's confidence and will bring retailers into general disrepute," he said. "This does not need to happen. With a proper pricing policy no one need lose or gain. "The Government and the board will see that unfair practices are quickly corrected. The objective of pricing policy will be ' to maintain gross revenue from saies at existing levels. "Between now and changeover day, avoid steering prices towards those that give gains to the retailer in conversion,'* Mr Moses urged. "Conversion gains will be made on ld., 2d., 7d„ and 9d. "Let prices continue to fall at the normal levels, and then use the recommended conversion table. "If price revision is necessary, retailers will help by avoiding this at changeover."