Lost Time And Money
I had a Timex Ironman watch for around 5 years, till the battery died. I looked at other makes / brands and decided I wanted to go with the same watch. Nothing fancy. A practical and functional watch is all I need.
A watch that's waterproof or at least splashproof. Something with an alarm, timer and most importantly, it must have a countdown timer. I use that function alot.
I check out Argos here in the UK, they stock a limited range of Timex Ironman. I check Amazon.co.uk and find a selection of models similar to my old watch. I dig further and finally locate my old watch on Amazon along with a couple of other sites.
Argos have a Timex Ironman at £35. Amazon have my old watch at £46. Thats a lot of money for a plastic watch with no jewellery, no gold, stainless steel and no moving parts. They churn these out by the million and make big profits.
Out of curiosity, I check Amazon US site to see they have my old watch available. They do and I can have it for the sum of $30.99 includes free shipping.
At the current exchange rate of £1 UK pound = $1.5432 U.S. dollars. The watch in the US costs £20.08 in UK money.
The same watch here in London costs £46.18 + 2.99 shipping = £49.17
That is 2.45 times more expensive. How come the same watch is almost 2.5 times more?
Does shipping costs that much?
The watches are probably made in China, Vietnam, India or some other country with low labour costs. They ship the watch to the US from China. Does shipping them from China to the UK costs so much more?
Either Amazon or Timex or both are ripping off the European consumer.
Someone will probably read this, follow the hyper-links and point out that both watches are not sold directly by Amazon. In the UK instance its a third party using Amazon market.
So here's another example. A Timex Ironman watch for around the same money. And the same watch from Amazon UK. The same thing happens. The Europeans end up paying almost double.
Once again. Here's Timex US site where the watch is $55. And Timex UK site where the watch is £59.99.
A few years back I worked for an IT company here in London, that imported US software. Their pricing policy, along with many others, was to replace the dollar sign with a pound sign for products.
For example if a piece of software cost $500 in the US, the company charged £500 here in the UK.
Now that's inflation.