Indicates the average price paid in the local market by clients for a product/service that is similar to the product/service sold by the organization.
Purchase Price of Product or Service Replaced (PI1997)
- Reporting Format Decimal
- Metric Type Metric
- Metric Level Product/Service, Organization
- IRIS Metric Citation IRIS, 2021. Purchase Price of Product or Service Replaced (PI1997). v5.2.
Footnote
Organizations should footnote all assumptions used, including how the similar, local product/service and price were selected.
Usage Guidance
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This metric is intended to capture the price of a product or service currently on the market that is similar to the organization's product or service. In many contexts, this metric captures the price of a traditional or status quo product replaced by a new or improved product sold by the organization. This metric is part of the calculation for Client Savings Premium (PI1748).
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Organizations should report prices as of the end of the reporting period.
Impact Categories & Themes
Cross Category
Metrics identified as "cross-category" are those that are relevant to any IRIS+ Impact Category or Impact Theme (i.e., these metrics are not specific to any particular industry/category or theme).
SDG Goals & Targets
No Poverty
- SDG Target 1.5
- SDG Target 1.4
Zero Hunger
- SDG Target 2.1
- SDG Target 2.2
- SDG Target 2.3
- SDG Target 2.4
Good Health and Well-being
- SDG Target 3.1
- SDG Target 3.2
- SDG Target 3.3
- SDG Target 3.4
- SDG Target 3.5
- SDG Target 3.7
- SDG Target 3.8
- SDG Target 3.9
Gender Equality
- SDG Target 5.6
Clean Water and Sanitation
- SDG Target 6.1
- SDG Target 6.2
- SDG Target 6.3
- SDG Target 6.4
Affordable and Clean Energy
- SDG Target 7.1
- SDG Target 7.2
- SDG Target 7.3
Decent Work and Economic Growth
- SDG Target 8.1
- SDG Target 8.2
- SDG Target 8.3
- SDG Target 8.4
- SDG Target 8.10
Industry, Innovation and Infrastructure
- SDG Target 9.1
- SDG Target 9.3
- SDG Target 9.4
Reduced Inequality
- SDG Target 10.1
- SDG Target 10.2
- SDG Target 10.3
- SDG Target 10.c
Sustainable Cities and Communities
- SDG Target 11.1
- SDG Target 11.2
- SDG Target 11.3
- SDG Target 11.5
- SDG Target 11.6
Responsible Consumption and Production
- SDG Target 12.2
- SDG Target 12.3
- SDG Target 12.4
Metric History
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June 2022 - IRIS v5.3 Released (current version)
Immaterial change. Minor revisions to definition and usage guidance for clarity.
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January 2020 - IRIS v5.1 Released
No change.
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May 2019 - IRIS v5.0 Released
New metric. Developed via IRIS+ core metrics sets.