Introducing the

1

• Introducing the
• A Practitioners Analysis
• Mario Müller
• Manager Public Affairs and Communication
• Prague 2 October 2006

2
Agenda

• Introduction
• EuroCommerce
• Political topics
• Preparation checklist
• Experience 2002
• Conclusions

3
EuroCommerce Members
Svensk Handel
VOSZ
NCHC
NRZHIU
SESME
Reál Hungária
EuroCommerce represents a unique mix of companies
- from world leading international companies all
the way down to the corner shop
4
Membership

• EuroCommerce represents more than 100 members
  from
• national trade associations
• individual companies
• European sectorial trade associations
• in 29 countries

5
Commerce in the EU

• 13 of EU GDP
• 5,5 millions enterprises (95 SMEs)
• Interface between industry and the 450 million
  consumers across Europe
• Providing jobs to 26 million people from all
  parts of society

A thriving sector bringing wealth to the
European economy
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The mission of EuroCommerce

• To promote the common interests of the sector
  vis-à-vis the EU institutions
• To lobby throughout the legislative process on
  behalf of commerce
• To educate EU decision makers to the impact of
  future legislation on commerce
• To provide timely and comprehensive information
  to members

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3. Political -topics

• Frontloading of banknotes coins
• Dual pricing
• Dual circulation period
• -day Choice of date and scenario
• Inflation?!

8
Frontloading

• 2002 Fear of counterfeit money
• Starter-kits only coins
• Getting familiar with
• ATMs
• Early 2002 Cash payments
• Security risk

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Starter-kits
10
Starter-kits for consumers
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Dual pricing

• 1998 Euro logo agreement
• Voluntary agreement
• Retail sector and consumer organisations
• Inform customers about
• Guarantee price stability
• Legislation only in A, P, GR

12
Dual circulation period

• 2002 Maximum 6 month
• CZ 1 month
• Give change only in
• ATMs and frontloading essential
• Backflow of national currency (Security)

13
-day Date and scenario

• Avoid 1 January!!
• Busiest time for retailers
• Why not selecting 1 February?
• Bing-bang is best option

14
Inflation ?!

• Gap between actual and perceived inflation
• Only some prices have gone up (tourism
  restaurants some low-cost goods)
• welcome euro as a plus 

15
4. Preparation Checklist

• Appoint -Coordinator
• Check the IT system!
• Test-run
• Storage
• New software?
• Accounting
• Rounding rules

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Preparation Checklist (2)

• Training of staff
• Labeling pricing
• Contracts
• Cash handling on -day
• Calculate change needed after -day

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5. Experience 2002

• Smooth process
• Quick change-over
• Consumers -phoric
• Costs for retailers 1 of turnover

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6. Conclusion

• Political decisions are necessary
• Preparation on time is essential
• Benefits exceed costs

19
European Parliament

•  Retailers are the real heroes of the euro
  changeover!
• MEP Jules MAATEN
• The retail sector is a  champion of transition.
  
• MEP Marianne THYSSEN

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• Thank you for your attention.
• Mario Müller
• EuroCommerce
• Manager Public Affairs and Communication