Pound shops....be warned, a pure rip off!

glasgow guy · 07-12-2008, 23:12

After the 2.5% reduction in VAT have the pound shops reduced their prices and changed their names to the Ninety Seven. eighty seven pence shops?

I think not...

Next time you're in, try asking for your 2.13p change...and see whats said..

cashman · 07-12-2008, 23:24

well it aint the end of the world G.G. but get yer point.

garinda · 07-12-2008, 23:25

As prices in there haven't risen for quite some while, the first one I remember was the fifty pence shop in Liverpool in the early eighties, and we've still got inflation, even though it's low at the moment, they might tell you to whistle for your money.

garinda · 07-12-2008, 23:30

I'd be careful...they might start charging you a pound for a carrier bag!

Royboy39 · 07-12-2008, 23:34

Quote:

Originally Posted by garinda

As prices in there haven't risen for quite some while, the first one I remember was the fifty pence shop in Liverpool in the early eighties, and we've still got inflation, even though it's low at the moment, they might tell you to whistle for your money.

And with good cause.....A pound shop is just that and if you don't think I'ts value for money, go somewhere else.

It will still be £1.

Neil · 07-12-2008, 23:47

Quote:

Originally Posted by cashman

well it aint the end of the world G.G. but get yer point.

It is a good example of what many shops are doing. Increasing the net price and not passing on the reduction to the customers.

Royboy39 · 07-12-2008, 23:56

Quote:

Originally Posted by Neil

It is a good example of what many shops are doing. Increasing the net price and not passing on the reduction to the customers.

There is no legislation in place to do so.
The well thought out plan's of mice and men, yet another cock up from the powers that be.
The extra profit from this maladministration will be taxed at scource anyway so you loose the government win....again.

Benipete · 07-12-2008, 23:59

Quote:

Originally Posted by glasgow guy

After the 2.5% reduction in VAT have the pound shops reduced their prices and changed their names to the Ninety Seven. eighty seven pence shops?

I think not...

Next time you're in, try asking for your 2.13p change...and see whats said..

A million Scotsmen every day open a tin of beans and say!

There's one missing Jimmy

garinda · 08-12-2008, 00:28

Don't forget this reduction in V.A.T. is only temporary.

jaysay · 08-12-2008, 10:13

Quote:

Originally Posted by garinda

As prices in there haven't risen for quite some while, the first one I remember was the fifty pence shop in Liverpool in the early eighties, and we've still got inflation, even though it's low at the moment, they might tell you to whistle for your money.

I stood the Markets back in the early 80s Rindi, when I worked for Ray Lindon, he did nothing but 50p stalls on numerous markets and made quite a good do out of it as well, I often went to Manchester buying the goods and there was always around 15% to 20% mark up if I remember rightly

Taggy · 08-12-2008, 12:11

Anyone recall the two shops in Blackpool heading towards Southshore...one sold everything at 2 shilling 11 pence, and then a rival set up selling everything for 2 shilling 10 pence!

Talking of Ray Linden Jaysay, is he still in Blackpool, know he went back there but hav'nt seen him around for years now.

Best Regards - Taggy

jaysay · 08-12-2008, 12:19

Quote:

Originally Posted by Taggy

Anyone recall the two shops in Blackpool heading towards Southshore...one sold everything at 2 shilling 11 pence, and then a rival set up selling everything for 2 shilling 10 pence!

Talking of Ray Linden Jaysay, is he still in Blackpool, know he went back there but hav'nt seen him around for years now.

Best Regards - Taggy

The last time I saw Ray was in Blackpool, He had the Store 99 in what was Woollies near the Central Station, that was over 20 years ago, never seen hide nor hair of him since

jambutty · 08-12-2008, 13:03

It has been reported that many shops are not recalculating their prices to reflect the reduction in vat, as it would be too time consuming and not cost effect. Well they do have a point, up to a point.

But you can bet your sweet life that when the vat is put back to 17½% it will suddenly become not just possible but a must.

All Darling/Brown’s tinkering has done is put up prices in the future.

In spite of all the rhetoric coming out of the government, there is still no sign that the energy companies are going to reduce their prices, because the price of oil has tumbled.

I heard the other day that British Gas is sending a cheque for £15 to customers for “being good payers”, but no overall reduction.

archiveuk · 08-12-2008, 13:36

Hey Up, I know i don't post too often but when i do !!! anyway, The maths in the opening post are wrong, let me explain....

In order to apply the new rate of VAT, we need to take VAT at 17.5% off the previous selling price, then work out 15% on this value and add that back on. This means that the actual discount on the previous VAT inclusive price works out at about 2.13%.

Example:

A product priced on the shelf at £11.75 (inclusive of VAT). First take off the 17.5% previous rate of VAT (£1.75), this means the actual product price is £10 Now apply the new VAT rate of 15% to the £10 product price (£1.50), resulting in a new price of £11.50 The total reduction to the retail price is 25p or 2.13%.

.... i'll get my coat!

Neil · 08-12-2008, 13:42

I like a bit of maths, carry on

Most big stores (B&Q, PC World etc) are correcting the VAT at the till by adding a discount. I suspect this is a temporary measure until they reprice everything