sterling/euro differences in shop prices.

aman said:
Yes but these are factored into each price individually - therefore the UK price doesn't bear relevance to the Euro price. If you take an adults item of clothing for instance there is a 6% difference in VAT between the two prices. Should the retailer charge more in the UK purely to narrow the price differential on the dual price ticket?
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But they are not quoting UK Price & Irish price on the tags they are quoting Sterling & Euro. These prices should reflect the current exchange rate. Taking that argument then there should be a list of prices in all EU countries where different rates of VAT & taxs apply.
Have just come back from Next today where an item of clothing for £30 was marked at €45 thats a 50% mark up. No external factors can justify that rip off.
 
If items have additional costs factored into each price individually as mentioned above, isn't it quite a co-indidence that the sterling & euro prices displayed in different stores on different items happen to be exactly the same?

For example, an item for £25 is usually displayed at €40 - whether it's a pair of shoes or a pair of trousers. Are the additional costs exactly the same for each item for each store?

Was mooching round M&S yesterday, and their sterling/euro price displays (which were always reasonably accurate when £1 = €1.50 or so) are now very different - e.g. cardigan £39.50 - €60!
 
colm said:
But they are not quoting UK Price & Irish price on the tags they are quoting Sterling & Euro. These prices should reflect the current exchange rate. Taking that argument then there should be a list of prices in all EU countries where different rates of VAT & taxs apply.
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Think Vero Moda & Pull and Bear show prices for different countries - and if I recall, all of the Euro-land prices quoted are the same. They also quote sterling and one of the Scandinavian currencies (just can't remember which one!).
 
My wife returned a top she had bought in the North to a Marks and Spencers in Cork a few months back and got the Euro value... would it be worthwhile investing in a few items in the UK and returning them in the South to take advantage of the Euro difference? You would get a fantastic return!
 
I was about to order some books from the book people (on line) until I realised their rate of exchange is, on average, double.

They said it's down to size population & postage, but they already factor that in as they charge more for postage, or you have to order a heck of alot more to get free delivery.

They won't let me order through the UK site, so I guess they won;t be getting my business until they review their pricing.
 
I think there will be dramatic changes in retail pricing for Spring / summer. - Whilst I only have a one gift store store in Carlow, I'm moving from a 1.25 exchange which I applied since August, to a one for one exchange for all product once the sale is over in 2 weeks. - Same will apply to online sales.

I believe Oasis, Coast, Karen Millen are introducing a similar pricing which will then have to be adopted by most of the other retailers.
 
Can anyone explain why the Irish Times cost €1.80 in ROI but only £1.10 in Northern Ireland?
 
Look , these tags were probably printed 3 months ago whwn the exchage rate was completely different.

Also remember most of these items are imported from UK , which incur additional costs like .........Transport , handling , clearance fees , warehouse storage fees ,nad many other costs too
 
allthedoyles said:
Look , these tags were probably printed 3 months ago whwn the exchage rate was completely different.

Also remember most of these items are imported from UK , which incur additional costs like .........Transport , handling , clearance fees , warehouse storage fees ,nad many other costs too
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So do the stuff that go to newry transported, handled, stored etc. differently to the stuff in Dundalk?
 
allthedoyles said:
Also remember most of these items are imported from UK , which incur additional costs like .........Transport , handling , clearance fees , warehouse storage fees ,nad many other costs too
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Lets not forget most of these items were manufactured thousands of miles away - not in the UK, so most if not all of the costs listed above are applicable for both UK and Irish stores. The UK bound stock incurs handling costs and warehouse storage fees etc.

Yes the costs are not identical, e.g. different VAT rate etc, but the markups for the Irish stores aren't justified.
 
I noticed today that the Karen Millen store in Grafton Street is offering an additional 10% discount on all pricing due to the currency fluctuations.
 
rmelly said:
, but the markups for the Irish stores aren't justified.
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Ok but remember wages are way higher here .........

Minimum wage UK is £4.77 PH 18-21 yrs - £ 5.73 over 21

Arent the majority workers in these department store at peak times under 21 ?
 
allthedoyles said:
Ok but remember wages are way higher here .........

Minimum wage UK is £4.77 PH 18-21 yrs - £ 5.73 over 21

Arent the majority workers in these department store at peak times under 21 ?
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I don't work in retail so can't say whether minimum wage is the wage that the retailers pay in both jurisdictions - can you confirm this is the case, in particular in clothing retailers.

What % of total costs is staff costs for these retailers? If for example it was 25%, then based on your figures showing the Irish pay rate being approx 20% more, 20% of 25% is 5%, so this gives a difference of 5%. And I think my 25% is being quite generous.

The following article came to mind - it's the Republic vs. Northern Ireland but I'm sure much of it holds true.

http://www.rte.ie/business/2008/1222/retail.html

A study carried out by state agency Forfás has found that higher business costs for retailers justify only a 5% to 6% price difference between the Republic and Northern Ireland.
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M & S meal for two £10 in U.K. €12.50 in Ireland. Todays rate of exchange should mean £10 = €10.34.
 
I had a magazine row in Mace yesterday; UK magazine No. l priced at 78p Sterling - their Euro sticker was 2.5l; No. 2 UK priced at 87p - Euro price 2.75; No. 3UK price 90p - Euro 1.43. Mace manager appeared and said that an Irish company set the prices - nothing to do with the shop. Just another example of Ireland's rip-off culture - with the current rate of exchange, no justification for these massive inflated prices.
 
The VAT difference between here and the UK has to be considered too. As for Irish shops accepting sterling if the price is displayed in sterling, I would imagine it's at their discretion, unless sterling is considered legal tender in this country.
 
Why cant someone put an average percent on the "VAT and higher business costs" differential in Ireland? Then everyone can make fair comparisons.
 
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