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E-Retailers in the UK and Brexit

So far Brexit presents chaotic uncertainty for e-retailers. One thing is for sure it is significant and historical change which will bring consequency.

 

First of all, UK retailers already suffer and surviving on very small profit. Furthermore promotions to shift stock are everywhere. Also, British pound plunged after the referendum results were in.

There are positive and negative affects for retailers.

Positive:

  • products and services purchased from British companies will be cheaper for foreign buyers
  • British retailers that source locally will benefit from the sterling’s weakness.
  • people may be encouraged to shop locally instead

Negative:

  • import tariffs will be put in place for products imported from the EU. At the moment UK pays zero.
  • Vat can raise up
  • UK goods will pay more to import EU goods

If you need any help with increasing your digital activities or more tips on E-retailers or on how to make more opportunities for your business, then please get in contact with us here at Network Intellect. Telephone: +44 (0) 844 543 0980

 Please get in contact with us here at Network Intellect.

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