A free web-based platform to assist consumers in comparing local and overseas prices and uncovering savings in a “meaningful, data-driven way” has been launched.

The Pure NonCents Calculator gives businesses the insight and consulting pathways to refine pricing, sourcing and operations for better efficiency, its founder said.

“Pure NonCents isn’t about blame — it’s about shared insight and identifying opportunities for improvement,” said Michael Pearman, the founder of Pure NonCents, the company behind the online tool.

“When there is price transparency in one place for consumers and businesses, the magnitude of potential savings is revealed, alongside what is required to create a more competitive marketplace. Everyone wins with clarity.”

The platform helps consumers make smarter purchasing decisions while enabling businesses to assess their competitiveness and identify opportunities for improvement.

Mr Pearman told The Royal Gazette that he had built the platform “so it gives both consumers and businesses better information”.

He added: “If you’re an individual shopper or family, you can see what it costs to import your purchases yourself, duty and shipping included.

“Each individual or family has the ability to determine for themselves whether the price matches the value they assign to a good.”

The web-based tool gives an analysis of overseas “first cost” prices and local retail prices along with duty and shipping, providing a data-driven view of where price misalignments exist.

It enables the consumer to decide when importing “could make financial sense”, while businesses will be able to recognise where they are already competitive and where process optimisation could enhance margins and customer value.

The company said the island’s high cost of living hit households and businesses alike.

Users can log on and, based on product selections, compare Bermuda and overseas prices, inclusive of duty and estimated freight, revealing approximate landed costs.

The company said: “Consumers are empowered with information to decide whether it personally benefits them to purchase the goods locally or overseas.

“For businesses, they can review their product portfolio and gain confidence that their products are priced appropriately or consider whether prices could be perceived as misaligned.”

Mr Pearman said that during testing, he received positive feedback from users about the platform.

He said: “The reaction has been amazing. You could almost hear a sigh of relief when people saw how simple it is to use.”

When people understand how things work, such as importation processes and duty costs, they can make better decisions, he added.

“This helps the whole economy work better,” he said.

Where businesses are less competitive, the company offers consulting services focused on process efficiency, cost reduction and strategic sourcing.

It said the business tool helped individuals and small businesses to understand the power of consolidation and how to import via ocean freight.

The company will offer live webinars about the web-based tool every Friday at 1pm this month.

• For more details, visit the Pure NonCents Facebook page