Irish customers of Marks & Spencer are set to pay up to 39 per cent more than their UK counterparts for their turkeys, mince pies and trifles this Christmas, as the British retailer is applying a hefty premium on the prices of its festive food range in Ireland.
The company’s 75-page Christmas food catalogue shows that customers of its 17 outlets in the Republic are being charged higher prices across the majority of the main categories.
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A Pembrokeshire bronze turkey for 8-10 people costs between €65.25-€79.75 for Irish customers. However, based on an exchange rate of £1:€1.11842, the equivalent cost for UK customers is just €50.32-€61.51. This suggests a mark-up of about 30 per cent.
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A dry-aged sirloin of beef to serve 6-8 costs from €60.20-€73.20 in the Republic, or about 28 per cent more than in the UK, while a Devonshire Bronze turkey retails at between €60-€82.50 in Ireland, which is 36 per cent more than in the UK.
More expensive
Potato dauphinoise costs the sterling equivalent of €8.94 in the UK, but €12.50 in the Republic – a difference of some 39 per cent – while an Italian meats and parmesan platter is €35 here or 25 per cent more expensive than the £25 (€28) charged in the UK.
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Irish shoppers will pay more for cheaper items too. Pork and chestnut stuffing bacon cups are on sale for €9 here, or some 34 per cent more than in the UK, while a selection of 36 mini mince pies is priced at €24 in the Republic, which is also some 34 per cent more than the UK price of £16 (€17.89).
A spokeswoman for Marks and Spencer suggested that the higher cost of doing business in Ireland is behind the differential.
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“We work hard to ensure we offer our customers in Ireland great quality products that are competitively priced,” she said.
Factors
“Like any business, we have to take into consideration a number of factors specific to the Irish market when setting our prices, such as higher employment, rental and operational costs.”
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However, the scale of the difference may surprise – and annoy – customers. Although sterling has been substantially weaker against the euro since the Brexit referendum in June 2016, UK retailers have been slow to cut prices to reflect this. A survey conducted earlier this year by The Irish Times of 12 UK retailers operating in the Republic found that currency mark-ups applied by these retailers varied significantly.