Dual sterling euro pricing
Friday, 09 January 2009 11:00

Tesco, Debenhams and many other retailers who operate in the UK and Europe need to sort out their pricing in sterling and euro if they are going to survive.

Overheard in Debenhams Limerick store this week, a woman talking on her mobile phone . . .

"I'm in Debenhams household section. My electric whisk packed up at the weekend and I'm looking for a replacement.

They have the one I want, it's marked at 15 pounds sterling but Debenhams want 24 euro for it

They can get lost!"

That's the reaction of many customers when they see dual pricing with sterling and euros quoted. Generally the euro price will be 50% more than the sterling price. That's just taking the mickey out of the customer. At the time of writing the pound sterling is worth 1.10 euros, to that 15 pound whisk should be around 16.50 euros. Even taking into account the 21.5% VAT in Ireland compared to 15% in the UK, the price should be around 17.50 euros.

If I was the manager of Debenhams or Tesco the staff would be neatly trimming the sterling price off all the labels with a pair of scissors before things went on display. A bit of common sense would go a long way until the lables were properly printed to reflect the real exchange rate.

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