Is now the time to boost your online buying from British online retailers?
As always, it depends. You have to be very wary – and make sure you are buying in Sterling!
No-one can have missed the Brexit story but what does it mean for online shoppers in Ireland? Well, there has been a rapid weakening of sterling, which means that UK clothes and shoes should theoretically be much cheaper than they were before. It is only theoretical – because many UK online shoppers have not passed on the savings to Euro customers.
For example this week, a girl’s jacket on Next Direct is £33 – but €48 if you are forced to buy it at the Euro price because it will be delivered to a Republic of Ireland address. With Dorothy Perkins, a coat is £40 but costs only the same €48 on its Euro price website.
The easiest way to think about it is this. A year ago, €100 would have bought you about £75 sterling to spend online. Today, the very same €100 euro will buy you about £89 pounds worth of shopping. That’s some difference.
So, substantial savings can be made from shopping at UK websites. But you have to buy in Sterling – and let your credit or debit card company do the currency conversion. But if you are shopping online with a British retailer and it does offer you the chance to pay in pounds rather than euro, you will save a lot of money if you pay in pounds.