The Sainsbury’s index is the most telling indicator of over or undervaluation of any exchange rate in the island of Ireland.
When the euro is too strong against sterling, the best indicator of this overvaluation isn’t some fancy chart, but is the eight-mile tailback at the roundabout in Newry of people from the Republic stocking up with cheap British booze for the Christmas. In contrast, when sterling is strong, you’ll see no slabs of cut-price Tennent's stacked in the boots of Toyota Corollas in the Sainsbury’s car park.
Worth the trouble and fuel?
Perhaps not, but added to the 'normal' price differences north and south of the border, then enough people can be prepared to vote with their wheels when a price becomes a bargain...
The trick for NAMs everywhere is to be able to determine the consumer-shopper tipping-point, and promote accordingly...
A store visit to Sainsbury's Newry might help...
(Today the Euro = £0.80, with an expectation of The Bank of England becoming the first major central bank to announce rate hikes since the financial crisis of 2007-2008).
When the euro is too strong against sterling, the best indicator of this overvaluation isn’t some fancy chart, but is the eight-mile tailback at the roundabout in Newry of people from the Republic stocking up with cheap British booze for the Christmas. In contrast, when sterling is strong, you’ll see no slabs of cut-price Tennent's stacked in the boots of Toyota Corollas in the Sainsbury’s car park.
Worth the trouble and fuel?
Perhaps not, but added to the 'normal' price differences north and south of the border, then enough people can be prepared to vote with their wheels when a price becomes a bargain...
The trick for NAMs everywhere is to be able to determine the consumer-shopper tipping-point, and promote accordingly...
A store visit to Sainsbury's Newry might help...
(Today the Euro = £0.80, with an expectation of The Bank of England becoming the first major central bank to announce rate hikes since the financial crisis of 2007-2008).
No comments:
Post a Comment