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Northern Ireland shops hit euro millions jackpot

By Claire McNeilly
Thursday, 15 October 2009

Retailers across Northern Ireland today looked set for a bustling Christmas bonanza amid predictions the pound will weaken further in the festive season — sparking a flood of bargain-hunters from the Republic.

Financial experts expect the pound and the euro to reach parity by December, spelling great news for traders in Northern Ireland and discount-hungry shoppers flocking over the border.

Border shopping towns such as Newry, Enniskillen and Londonderry have already been bolstered from the worst of the recession by so-called ‘euro-tourists’ attracted to Northern Ireland from the south by the UK’s lower VAT rate and a favourable exchange rate.

And with the two currencies predicted to draw level, the flood of southern shoppers is expected to intensify in the run-up to Christmas.

The Belfast Telegraph’s PriceWatch campaign travelled to Newry in Co Down and Dundalk in neighbouring Co Louth to compare the price of identical items in eight well-known retailers operating in both countries. Based on one euro being worth 92p, we looked at popular items available on both sides of the border and found a significant difference.

Currency specialist Niall Haughey of Blue FX Markets said: “It is clear that Irish shoppers will benefit from the falling pound.”

He warned, however, the downside of a weakened pound was the increased cost for travellers from Northern Ireland heading to the Republic or elsewhere in Europe for a break.

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Jim,you'll find that once you cross the border into Northern Ireland,the roads are not irish and that they belong to her majesty queen elizabeth II.
Davids point about some drivers from the republic of ireland on the roads in Northern Ireland is right,ive had several near misses caused by drivers of southern registered cars - mainly switching lanes with no indication at the last minute when they see the signpost for dublin on the M1 or various locations in Belfast.
Whilst your at it jim....give us all the source for the "recent survey" that you quoted then we'll all believe it.

Posted by Andy | 19.10.09, 02:22 GMT

@david, funny you say that because northern drivers are known down south for their calm and respectful driving manner, :D
anyway its not just grocery shopping. I'll be leaving the car in for a service and new set of tyres then round the pharmacy for my prescriptions.

Posted by dave in dublin | 16.10.09, 02:31 GMT

I disagree with your last comment. As an electrical retailer we have experienced a considerable cushioning from the economic downturn from Southern Ireland custom. I know this is not exclusive to ourselves, our sector or proximity to the border - Markethill. Electrical retailers and car showrooms in Belfast have seen much of their trade in the last 12 months from the weakness of sterling. The footfall on the Enterprise Train Service from Dublin to Belfast would be a good indication to the validity of this point.

I would add that often consumers are their own worst enemy in regards of the growth of the big supermarkets. Independents in Northern Ireland had alot of time to prepare themselves for their arrival and have reacted well to this competition.

Chris - Dalzell's of Markethill www.armaghelectrical.com

Posted by Chris Dalzell | 15.10.09, 19:39 GMT

Ulster shops hit euro millions jackpot? I thought this was about the lottery.

Posted by Damian | 15.10.09, 17:18 GMT

David you'll find that they are Irish roads and belong to all of us not just you and your kind.

BTW is a recent survey the following result was concluded

"19% of drivers in Belfast reckon it is perfectly OK to get behind the wheel after six pints"

Posted by Jim | 15.10.09, 16:17 GMT

Posted by Jim | 15.10.09, 16:13 GMT

In all seriousness are there really any major benefits of a weak pound to Northern Ireland? Southern shoppers spend money in the major grocery and high street retailers who employ locals in poor quality, low paid jobs while the profits are creamed off back to HQ in London. Local retailers and exporters might benefit but there aren't too many left! So NI gets stuck with a huge public sector mentality on one side and growing army of shelf stackers on the other with a disproportionately small (and shrinking) high value private sector - is this progress?

Posted by RM | 15.10.09, 13:47 GMT

What is Belfast Telegraph's policy on the lazy and inaccurate use of the term "Ulster" to refer to the 6 counties that constitute the part of the UK known as Northern Ireland?

Posted by dantheman | 15.10.09, 13:03 GMT