LEGAL NEWSLINE

NEW YORK (Legal Newsline) - New York Attorney General Eric Schneiderman announced an agreement on Tuesday with several national and New York retailers that will provide unit pricing information to online supermarkets and drugstores.

Under the terms of the agreement, Walmart, Costco, Walgreens, FreshDirect, CVS and Drugstore.com will provide unit pricing information on their websites and mobile apps.

"As the internet becomes the shopping mall of the 21st century, we need to ensure that consumers have the same robust protections online that they do in brick-and-mortar stores," Schneiderman said. "Making New York more affordable for the middle class includes empowering consumers to spend their money wisely. This agreement, in which government and the private sector worked collaboratively to adapt conventional rules to an evolving marketplace, is a victory for consumers. I commend these retailers for recognizing the need for transparency and promoting openness online."

When retailers provide unit pricing they allow consumers to quickly compare prices of different items regardless of packaging size, manufacturers, quantity or discounts. Consumers can compare the price per ounce with the retail price to make better and faster decisions.

While New York law requires that large retail stores clearly display the price per unit of measurement for many items, unit pricing information online is rare.

Under the terms of the agreement, Walmart and Costco will provide unit pricing information online by the end of 2014. Drugstore.com, CVS, FreshDirect and Walgreens will provide unit pricing online by March 2015.