AI-POWERED PRICE COMPARISON IN NIGERIAN MARKETS
Abstract
This research addresses pervasive market inefficiencies in Nigeria’s informal retail sector, characterized by significant information asymmetry and price dispersion exceeding 40% for identical products; it develops an AI-powered price comparison system utilizing a React TypeScript frontend and Firebase Firestore backend with an offline-first architecture to empower consumers through real-time price intelligence and machine learning–based counterfeit risk assessment; the system demonstrates a replicable model for enhancing market transparency and consumer protection in emerging economies by reducing price discovery time to under three minutes and providing reliable fair-price benchmarks, thereby mitigating financial losses and improving overall consumer welfare in challenging infrastructural environments.
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