World Consumer Rights Day

World Consumer Rights Day

Nov 23, 2022Euromercato UAE

Did you know that as a consumer, you have rights?

Every customer must be aware of their rights and needs in order to recognize when they are being a victim of the marketplace, and more significantly when they have grounds to object to any product or service purchase.

What is World Consumer Rights Day?

Every year on March 15th, the consumer movement commemorates World Consumer Rights Day. It is a global event that strives to increase awareness of consumer rights. Celebrating the day is an opportunity to demand that all consumers’ rights be respected and protected. It is also to protest market abuses and social injustices that jeopardize those rights.

The majority of people are unaware of their rights as consumers. Consumer rights refer to a person’s right to know about the quality, purity, price, and standard of various items, goods, and services before purchasing them. In commemorating this day, there is the hope to raise awareness of the right to demand protection and avoid being a victim in the marketplace.

Advocates raise their voices on this day to demand that all customers’ rights be respected and safeguarded. This is regardless of the product or service in question or the socioeconomic strata to which the consumers belong. World Consumer Rights Day’s ultimate purpose is to guarantee that customers have all of the information they need to make an informed decision.

History of World Consumer Rights Day

World Consumer Rights Day is an annual event by the Consumers International. It is a global coalition of consumer organizations since 1960. The organization also acts as a consumer advocate that is both independent and influential.

Since 1983, we celebrate the World Consumer Rights Day every March 15 to commemorate a speech given by U.S. President Ronald Reagan. 

The World Consumer Rights Day since then has increased in popularity. We now observe it on a yearly basis with a different subject. Knowing our consumer rights is critical. If we are aware of our rights, we can tell whether we are being a victim in the marketplace. Above all, we have the ability to raise our voices. 

What is the Theme of World Consumer Rights Day 2022?

The Membership of Consumers International, 200 consumer organizations from 100 countries, has chosen “Fair Digital Finance” as the worldwide subject for this year. As digital payments become more prevalent in society, the risks associated with them are also increasing. This is to emphasize the need for “innovative regulatory approaches and digital financial services and products that center consumer protection and empowerment.”

We can expect that by 2024, the number of people who use digital banking will reach 3.6 billion. Digital finance opens up new possibilities, but it also introduces new risks that could result in unfavorable consumer outcomes.

Digital technology is now reshaping payments, lending, insurance, and wealth management. These are quickly becoming crucial enablers for financial service users. Consumers have become increasingly vulnerable to scams, frauds, phishing, and data breaches in recent years, exacerbated by the COVID-19 pandemic. Consumers who are experiencing financial difficulties are particularly vulnerable to these risks.

The first-ever global conversation on the consumer vision for fair digital finance will take place on this year’s World Consumer Rights Day.

Why Do We Celebrate It?

Since its creation, we dedicate the World Consumer Rights Day to recognize and enforce consumer rights. As consumers, we must all consciously take measures that have a beneficial impact on us.

When unfair trade practices exploit customers, this day is an important day to raise awareness. It equips us with the tools we need to be savvy shoppers.

Every single person on the planet, including the owners of the businesses we buy from, is a consumer. 

If everyone in the world works together to raise awareness about consumer rights, the world will change for the better.

On this day, we commemorate the World Consumer Rights Day to emphasize the importance of consumer protection and empowerment. The day also aims to raise awareness about market malpractices that jeopardize consumers’ rights.

Here at Euromercato, we are committed to ensuring that each and every one of our customers’ rights is protected and respected in accordance with our terms and conditions. With that, we make sure that all transactions are made properly and all products are delivered in their best condition.

For any questions or advice regarding consumer rights, you can always reach out to us!

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