As the world become a small place for doing business, so the consumer too gets very eager to buy any new item(s) available on the market, but question is is he/she aware of her consumer rights and does she/her have the required information to make a smart choice so that the service, product or good that is being chosen will serve its intended purpose? The answer is hard to predict due to either the price tag or attractiveness of the choice being made.
Millions of consumer around the world be it in the developed or developing countries are not aware that they have rights and obligations when seeking for a service, good or product of any nature, thus it becomes very difficult for him/her to know if the choice made will serve its intended purpose and for how long.
This year the Consumer Rights Day theme was "Trusted Smart Products" and global activities are held from March 15th each year.
Smart products are connected to the internet and receive, collect and send data. Globally, there are currently 23.1 billion smart products in the world, outnumbering people three to one.
As more people come online across the world and our connection to the internet becomes better and faster, smart products will become more of a day-to-day reality for consumers everywhere, marking a major change in the way many consumers interact with products and services.
"The emergence of smart technology brings many opportunities for consumers; access to new services, more responsive products, greater convenience and choice. There are, however, some significant causes for concern: lack of security, privacy and meaningful choice over how we use them, as well as a lack of clarity about who is responsible when things go wrong.
There are also issues around lack of access, with millions of people globally locked out of this new technology by overly high data charges"