Question and Answers

This in turn allows us to sell a massive variety of products and also allows us to offer great deals on big well known brands, benefiting our customers with choice and value.

We currently have over four hundred offers in store today including buy one get one free deals which are not common place in Spain making Overseas Imports market leaders in this area.

Overseas is a fully legal company complying with all Spanish, employment, health and trading laws, which also carry their own costs.

Recently due to a rise across the board in costs we have had to pass this on in order to simply be able to survive as a company.

I would like to assure you that Overseas Imports values all of its customers and appreciates their loyalty. For this reason I will endeavour to explain our costs as clearly as possible as we do believe in transparency and honesty with our customers.

Pricing Policy

Below is a list of Factors that Affect our Prices .

• Exchange Rate - As a Company we trade Euros on the International Exchange Markets. When you get 1.05 at an Exchange Bureau we are actually going to be changing Euros nearer 1.12 to the pound. As a Company we try and Forward buy Currency for months at a time to stabilise our pricing. At the moment we are losing out as we are paying €1.17 to the Pound
• Overseas Imports - Overseas ( as detailed above ) is a Privately Owned Company with an Exclusive Sales Agreement with Iceland Frozen Foods Ltd. We are paying the price set by Our Suppliers. With a lot of products this can work against us, for example the price marked items where more often than not we can sell at very close to a loss in order to try and hold prices low.
• Price Marked Products- Overseas has made the decision to keep a standard pricing Policy with Regards to Price Marked Products. If we worked off a standard Profit Margin then the Prices would fluctuate across the range. We decided to set the pricing based on €1.40 to every 1GBP.
• Cost Price- All Food manufactures have pushed the prices up due to increased costs. Overseas is paying between 85p and 95p for a lot of our 1.00 Flashed products. Iceland in the UK has had to absorb Cost rises and they are trying to keep price rises to a minimum.
• Transport - We pay between 12% and 20% for Transport to Mainland Spain. Petrol Prices as you will be aware and felt yourself have risen monthly in turn pushing our transport costs up.
• Translation Labels - By Law we have to place an Ingredients Translation Label in Spanish onto all food products. This means that we need additional staff to be able to place a ticket on every Pack. This takes double the time and labour cost of a UK Supermarket placing Stock onto the shelf.
• IVA - All the stock must have IVA included. VAT is not placed on Food in the UK but we pay either 4%,8%,18%depending on the product group.

Please see below an example of a €1.40 item which is flash priced 1.00.

Chicken Kiev Example
Cost Price in Uk 93p
Add Transport of 15%
Exchange Rate @1.17 ( Current Contract)
Tax 8%

€1.39 Before a Profit Margin

Priced Marked Selling Price €1.40

At this price we have made nothing from this product.

This is one item and although this is not the case for all products you can clearly see we are not being greedy as a company we simply wish to survive as a company. I´d like to think our customers also want us to stay around.