Duel currency pricing

keefg

Anyone know the legal position on duel currency pricing in Irish stores?

I was in a very well know book store today and looking at buying a copy of a UK motoring magazine.

The UK price on the back of the mag was £2.99 which works out at approx €3.90 at todays exchange rates.

So let's give the store a little bit of a mark up to cover transport costs etc and they sell the mag at €4.50......no, let give them the chance of a decent margin and sell it €5.00.

Sound fair enough?

Not for this store..........€10.80 was the price they were charging!!

Wow! Now that's greed for you.

Can stores just charge whatever euro price takes their fancy if the product already has a sterling price on it?




and if you are wondering...no I didn't pay the €10.80

Blk150

I buy a well known motorbike magazine in a well known dublin bookstore everyweek.The mag is priced at 3.90 sterling (About 5 euro).They charge 8.35 euro for the magazine.It makes me sick to pay it TBH but it's a great mag:(

Kimbot

Its actually up to the Irish Distributer on what price the shops charge and not the shop if I remember rightly.

Bluetonic

Of course the most important issues are the VAT differences and then the presumption that the UK economic factors and the Irish economic factors are the same, i.e. staff wages, premises rent etc.., They are not so you can't just use the current exchange rate to and compare the differences, you've to be a bit more intelligent than that.

keefg

Bluetonic wrote: »

Of course the most important issues are the VAT differences and then the presumption that the UK economic factors and the Irish economic factors are the same, i.e. staff wages, premises rent etc.., They are not so you can't just use the current exchange rate to and compare the differences, you've to be a bit more intelligent than that.

I agree, but do you really think over six euro mark up per mag is justified?

Beano

Recommended Retail Prices have no legal basis in this country. They can print whatever price they want on the back of the magazine and it wont stop the shop from charging what they like. The free market economy at work.

Doctor DooM

A price tag is only an entreat to sale and not a guarenteed price.

Technically, a shop can change its mind between you picking up an item and bringing it to the desk, even.

rubadub

jonny24ie wrote: »

Its actually up to the Irish Distributer on what price the shops charge and not the shop if I remember rightly.

If that was the case then magazines would cost the same in all shops, like newspapers. If there is no euro price they can charge whatever they want.

I agree, but do you really think over six euro mark up per mag is justified?

They only have to "justify" it to themselves. If enough people buy them they will continue to charge it, once there profits go down due to lack of buyers the price drops, simple supply/demand.

I am not sure about the law in regard to "flashed prices" e.g. when you see a bar/ crisps etc that has 60cent written on it, I am not sure if they can charge more, or charge more for a newspaper etc. I know a guy who worked in centra and they specficially bought no items with flashed prices if they could.

Corruptedmorals

Yeah there's always a bit of a mark-up, but that's ridiculous. I work in Dunnes, standard prices would be £17/€25 and £95/€150 which is about right, but things that are cheap, like socks, the euro is almost double the sterling.

So many people want to pay the sterling price- yeah, dual pricing..but no dual floats..

mr kr0nik

Corruptedmorals wrote: »

Yeah there's always a bit of a mark-up, but that's ridiculous. I work in Dunnes, standard prices would be £17/€25 and £95/€150 which is about right, but things that are cheap, like socks, the euro is almost double the sterling.

So many people want to pay the sterling price- yeah, dual pricing..but no dual floats..

Yeah,
Went into the shop in Navan looking for a jumper. One had the following prices:

14 stg/20 EUR
another had
15 stg/25 EUR

Hell of an exchange rate there... 1 stg = 5 EUR