Weak Euro presents huge opportunity for cross border sales – O’Reilly

“The fall in the value of the Euro in relation to sterling can be very positive for retailers and exporters south of the border”, says Joe O’Reilly, Fine Gael TD for Cavan/Monaghan.

“At present £1 GPB is equal in value to €1.35*, representing a drop in the value of the Euro in comparison to sterling by 9.3% between February 2014 and February 2015. This means that shoppers crossing the border into counties like Monaghan and Cavan can get excellent value for money.

“In the past, when the Euro was strong in comparison to the pound, many people were making the trek to Newry, Enniskillen or Belfast to do their shopping or to buy cars. Now the shoe is on the other foot and there is a great opportunity for retailers and businesses in the South to promote themselves over the border and to attract new business. One way that this could be done is by embracing internet marketing and sales. Never was there a greater opportunity for this and it is the future

“The strength of the Euro and the resilience of the European economy are extremely important. It is not ideal that the Euro is in such a weak position but out of this negative, we must take a positive.

“A weaker Euro can be beneficial to Irish exporters providing goods to Northern Ireland and all parts of the UK. Retail Ireland estimates that consumer spending will rise by 2.7% in 2015, more than double the 1.3% growth in 2014. Maximising the potential of new business from Northern Ireland could further increase the rate of growth.

“There is huge opportunity for business people and for retailers in Cavan and also in the other border counties of Monaghan, Louth, Donegal, Sligo and Leitrim. Now is the time for retailers to get creative, to get active and to take the chance to attract new customers.”