How Brexit will affect e-Retailers in the UK
Something significant and historical is happening in Europe right now, and it isn’t the return of the Teletubbies!
For the UK, the future of the retail sector has been thrown into chaotic uncertainty yet again. We look at the good and the bad that Brexit presents and how e-retailers can brace themselves for the inevitability these changes might bring.
Brexit could not have come at a worse time for high street as many retailers are already surviving on paper-thin profits in the face of slumping sales. Around 84% of high street shops are running promotions to shift stock, according to retail analyst Richard Hyman.
As expected, the British pound plunged after the referendum results were in. The pound actually sank to its lowest level since 1985. Despite months of endless speculating, some businesses are still in disbelief that Britain has decided to leave the EU and are wondering what to do next.
So how does this affect retailers?
Firstly, let’s look at the positives, because every cloud has a silver lining:
1. For UK retailers selling outside the country, the deva