Britain’s online stores are under siege from savvy Euro-shoppers armed with their credit cards and their Euros, who are hitting the web in the search of bargains.
Moneybookers, one of Europe’s biggest online payments providers, estimates that 30% of French, 29% of German and 22% of Polish internet shoppers are using UK retailers to take advantage of the low pound, and Moneybookers has seen a steady rise in the run-up to Christmas. The lure of a great exchange rate and UK retailers slashing prices as part of their sales, has proven too good an opportunity to miss for our continental neighbours.
Moneybookers research amongst UK and European online shoppers reveals that there are no longer borders to finding a bargain on the internet. In total, 44% of European shoppers say they have bought items online from foreign stores. German shoppers lead (53% have shopped overseas), while 45% of British and 43% of French online shoppers have “shopped across borders”.
Bargain Britain
Popular products such as iPods, laptops and cameras are driving this surge in online shopping, which when compared to prices paid on the continent, are all significantly cheaper here in the UK.
The savings to be made on popular products*
| Product | Sterling | Euro | Saving |
| Designer sunglasses | £55 | £117 (€130) | £62 (53%) |
| iPod Touch | £139 | £187 (€209) | £48 (26%) |
| Designer perfume | £50 | £60 (€67) | £10 (17%) |
| Mobile phone handset | £84.99 | £102 (€111.95) | £17.01 (17%) |
| Digital camera | £189 | £227 (€253) | £38 (17%) |
| Laptop | £1,299 | £1,436 (€1,599) | £137 (10%) |
Gadgets and other electrical goods are the biggest draw for shoppers on the continent. Personal music players such as the iPod offer up fantastic bargains, with British shoppers paying £139 online, compared to £187 in the Eurozone. Taking into consideration the strength of the Euro, buying in the UK equates to a fantastic saving of €48.
High street favourites also offer huge savings when bought in the UK. A pair of designer sunglasses can cost £55 in Britain, compared to €117 for an equivalent pair on the continent. By purchasing from a UK based online retailer Europeans are saving themselves up to £62 – or a 53% saving.
Nikolai Riesenkampff, co-CEO of Moneybookers said: “The fact many Europeans can take advantage of the current exchange rate, without having to travel, is great news for British online retailers – who are perfectly placed to make the most of this surge.”
For consumers who want to make the most of bargain Britain, whether based in the UK or on the continent, Moneybookers offers a simple eWallet which enables any customer to make online payments conveniently and securely without revealing personal financial data.
