While traveling to other countries such as Europe, Asia or the UK, conversion rates are constantly fluctuating. Travelers become more aware of their spending, however when it comes to fashion, that doesn’t seem to be the case. Online clothing retailer, iShopStyle, conducted a research showing why Britons are forced to spend more.
iShopStyle was created by University graduate, Jamie Dickinson in 2007. With an aim to provide discount designer wear to the everyday person, they provide good quality products at an honest and reasonable price. The company has managed to break the barrier of artificial conversion rates for luxury American brands, and now imports products from major retailers including Abercrombie & Fitch, American Eagle, Hollister and Gilly Hicks and price matches their US retail price.
According to UK National Statistics, last year, Britons spent 59 billion pounds on clothing and footwear while European counterparts spend about 700 pounds per person. iShopStyle revealed that Britons spend an average of 68% more of their imported American goods from brands such as Abercrombie & Fitch and Hollister when purchasing an identical product in a UK outlet, rather than from one of the firm’s US stores. However, the Americans aren’t the only ones found ripping off the country. EUropean firms such as H&M have been found to be selling clothing for up to 10% more in the UK than it charges customers who shop in their stores which charges Euros.
In 2012, iShopStyle questioned home-grown brands such as Jack Wills and Topshop as to why shoppers are forced to part with so much cash when all they want is quality clothing. Ever since, it has stocked the brands and provided discounts of up to 40% off the high street prices.
Shoppers are hopping that other UK clothing stores take note of this new trend of consumers fighting back against unfair prices, and will take the lead. In the mean time, iShopStyle has provided a discount code SAVE10 for its customers to save an addition 10% off their already discounted prices.
By Pia Talwar