Commission publishes study aimed at combatting consumer vulnerability
The study represents an important step forward in establishing an evidence-based definition of consumer vulnerability and in exploring possible remedies to it.
A vulnerable consumer is someone who
- Is at higher risk of suffering negative outcomes in the market;Has limited ability to maximise his or her well-being;
- Has difficulty in obtaining or assimilating information
- Is less able to buy, choose or access suitable products; or
- Is more susceptible to certain marketing practices.
The study finds that presenting offers in a simpler and clearer way significantly improves consumers' ability to select the best deals in behavioural experiments. In order to reduce consumer vulnerability, the Commission is therefore urging for clearer information from providers, so consumers are better able to engage in markets and to better judge and compare deals.