Brexit ‘forces prices up’ at Decathlon and Zara in the UK

UK shoppers pay up to 50 per cent more than their counterparts in the European Union, according to a survey by Guardian Money.

The survey examined the prices for a range of popular items sold in pan-European retailers including Ikea, Decathlon, and Zara with prices compared between the stores in the UK, Germany, France, Spain, Italy, and Ireland.

Decathlon charges £1,299.99 or €1,525 for a Riverside electric bike in its UK stores. Yet in the French sporting goods retailer’s stores in France, Spain and Italy, the price for the same item is €1,199, equivalent to almost £300 less than the UK price at £1,004.

The French sports goods retailer attributed UK pricing markups to Brexit.

A spokesperson for Decathlon said: “The UK’s exit from the European Union has made it more expensive to import stock.

“It also meant that Decathlon UK had to expand the size of the supply team in order to deal with the additional administration, costs and duties associated with Britain’s exit from the customs union.”

According to the research, British shoppers pay £49.99 for Zara’s linen blend tunic dress at its UK stores, equal to €58.70 at current exchange rates. At Zara in Germany, France, Italy and Ireland, the price is €49.95, and €39.95 in Spain.

The Guardian says that British holidaymakers who spend more than £390 in shops elsewhere in Europe this summer, will have to pay customs duties and VAT on their return – which can add 20 per cent or more to the price paid.

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