Expensive magazines

mikemac

I bought a few magazines today from Easons.
I'm looking at the price on the magazine and comparing to the receipt

£3.99 but €6.86 in Ireland
£3.75 but €6.44 in Ireland
£3.95 but €6.86 in Ireland

As an example, £3.99 is €5.35

Yes, I know about the exchange rate but even then that's a savage markup.
All due to high wages, transport and Vat?

Maybe so but that doesn't explain how the Irish Independant newpaper is so much more in ROI than it is in Northern Ireland if you compare the sterling and Euro prices. If should be more expensive if it's getting exported up North.
It's the exact same paper, you can see the two prices on Page 1

We're getting robbed

Bluetonic

micmclo wrote: »

Maybe so but that doesn't explain how the Irish Independant newpaper is so much more in ROI than it is in Northern Ireland if you compare the sterling and Euro prices. If should be more expensive if it's getting exported up North.
It's the exact same paper, you can see the two prices on Page 1

You didn't think for one second that the actual price of the Irish Independent is the euro price and that perhaps the GBP price of it is a discounted price in a market which is already flooded with newspapers. :rolleyes:

Tipsy Mac

micmclo wrote: »

I bought a few magazines today from Easons.

They run the distribution chain for pretty much all overseas magazines sold in Ireland, that's why they are expensive, one supplier one price, as usual with such things in this country :mad:

dudara

AFAIK, there is a different VAT rate for magazines here in Ireland than there is in the UK. I think that it is 0% in the UK, while it is 21% here.

Extra reading here

Magazine VAT rates in Europe vary considerably from zero per cent in some countries to as much as 25 per cent in Denmark and Sweden, where high taxation rates on magazines result in considerably higher cover prices and effectively reduce total sales. While most countries in Western Europe have VAT rates of between zero and seven per cent, Ireland and the Scandinavian countries are the exception with rates of more than 20 per cent. VAT rates in Eastern Europe also tend to be higher than Western Europe on the whole, somewhere between ten and 20 per cent on average.

jahalpin

The price differences on magazines are due to a number of factors;

- Currency differences (approx 1.5)
- VAT (13.5% on most magazines and 21% on partworks etc)
- Distribution costs

The prices printed on the mags are in sterling, which has an average exchange rate of approx €1.50 - £1.00

Magazines in the ROI are subject to VAT at either 13.5% or 21% (partworks etc) compared to zero in the U.K.

In the OP's example
£3.99 - €6.86

Stg - EUro = 3.99 * 1.50 = 5.99
Add VAT (assume normal magazine @ 13.5%) = 5.99 * 1.135 = 6.80

Therefore 6.86 - 6.80 = 0.06 = < 1% additional costs based on UK price

KTRIC

Stop bleedin moaning lads, I paid €10.99 for T3 and €11.99 for Stuff last month.

jahalpin

Under competition law, individual shops are free to charge what they want for a product.

The waste charges etc would also increase costs as the retailer would send the whole magazine back to the supplier rather than pay for it to go in the bin

ztoical

When I worked in Easons I was always getting people bitching about the difference in sterling and euro. They'd yell and then wouldn't listen when we tired to explain the VAT difference between ireland and the UK. I'd one guy go off to a bank and come back with the current sterling/euro rate. I was like what do you want me to do, I agree the cost is high but there's nothing I can do. The till set up won't let you alter magazine prices, you can change books and stationary but not mags. Even staff don't get a break, no staff discounts on magazines.

Canonfan

I buy magzines from Reads, always 10% off.

mikemac

jahalpin wrote: »

The price differences on magazines are due to a number of factors;

- Currency differences (approx 1.5)
- VAT (13.5% on most magazines and 21% on partworks etc)
- Distribution costs

The prices printed on the mags are in sterling, which has an average exchange rate of approx €1.50 - £1.00

I accept all your points and it's a very informative post.
But I can't accept that £1=€1.50 as it's about €1.35 now.
Even if the average is €1.50 I'm sure if the rate went to €1.65 (to balance the average) then I'm sure Easons wouldn't be slow to jack up the price

monkeyfudge

Canonfan wrote: »

I buy magzines from Reads, always 10% off.

Funnily Easons owns Reads these days.

I think was in a branch of Bus Stop once and they had Irish magazines, which have their own Irish price printed on the cover, marked up higher again with a price sticker. At least I've never seen Easons do that.

ScouseMouse

micmclo wrote: »

I accept all your points and it's a very informative post.
But I can't accept that £1=€1.50 as it's about €1.35 now.
Even if the average is €1.50 I'm sure if the rate went to €1.65 (to balance the average) then I'm sure Easons wouldn't be slow to jack up the price

As pointed out in a previous post, there is an increased vat rate involved. So you dont have to accept 1 pound = 1.5 euro. It doesn't - its that simple.


A magazine retailer.

deRanged

monkeyfudge wrote: »

Funnily Easons owns Reads these days.

and they shut it down in Cork - so no choice down here.

eth0_

Canonfan wrote: »

I buy magzines from Reads, always 10% off.

Nice tip, thanks!