Tesco Ireland introduces € for £ price parity

Tesco Ireland has launched € for £ price parity on its 7,500 clothing lines.

Shoppers are now able to pay whatever the sterling price is on the tag in euro, 7% less than customers in the UK and Northern Ireland, based on current exchange rates. For example, jeans priced at £6 will now cost €6.

Tesco said this represented at €20m investment and meant shoppers would no longer need to travel across the border into Northern Ireland for the best deals.

The move follows criticism by consumer groups and politicians of Tesco and other retailers for failing to pass on savings as a result of weakening sterling.

Jacqueline O’Neill, Tesco Ireland’s newly appointed commercial director, said: “We are delighted to introduce € for £ parity on clothing in 75 stores across the country. I believe that this move will make Tesco the number one destination for quality fashion for all the family at the lowest prices.”

The price parity spans Tesco Ireland’s five proprietary fashion brands: F&F, Cherokee, True, Stone Bay and Petit.

Asked if Tesco planned to extend price parity to its grocery range, a spokesperson said this was more complex, but Tesco was “working to reduce the gap there too”.