This ad will be closed automatically in X seconds.

British retailers reveal Brexit concerns

57% have no plans in place, says new survey; 49% anticipate collapse in consumer confidence.

Over half of British retailers have no Brexit plans, despite the UK set to leave the EU on October 31, a new survey has found.

The survey of 200 British retail decision makers was carried out by Global-e in conjunction with Censuswide.

It found that, since the referendum in 2016, a third of retailers have experienced a fall in sales in the UK, reported Fashion United. The ongoing uncertainty has also left over half (54%) of retailers with a range of Brexit concerns.

49% anticipate a collapse in consumer confidence post-Brexit, 43% anticipate difficulty in sourcing products or goods and 34% may consider rationing in the event of stock shortages. Notably, 43% said they will have to raise prices post-Brexit.

In addition, 52% of retailers are concerned that their businesses will be impacted negatively by currency fluctuations post-Brexit. 39% also expected a decrease in sales to the European Economic Area after Brexit.

A major concern is that the Brexit date of October 31 will directly impact on Christmas trading online, with 38% saying the delay poses a ‘significant risk’ to retail performance over the fourth quarter and will affect online trading.

However, despite those stats, 57% of retailers overall are confident that their business can flourish internationally after Brexit, with some already having seen an increase in cross-border ecommerce sales.

“The government has set a formal date for Britain’s exit, which unfortunately falls right before peak trading – a vital time in the year for the sector, adding an additional layer of concern,” said Nir Debbi, co-founder of Global-e.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter.

MORE NEWS
B&LLAs24finalists500x500
 
The finalists in the Product, Property, Retail and Rising Star categories for the Brand & Lifestyle Licensing Awards 2024 have officially been revealed....
MiffyGaleries500x500
 
Two shop-in-shop activations have opened their doors in Galeries Lafayette Paris Haussmann for the classic brand....
TombRaider500x500
 
Video games developer, Crystal Dynamics, has signed the video game and geek culture specialist agency to represent Tomb Raider products for merchandise licensing....
HarlemGlobetrotters500x500
 
The Harlem Globetrotters - famous for fusing sport and entertainment - have signed with IMG to further develop the brand in anticipation of its 100th anniversary milestone in 2026....
RitaOra500x500
 
Primark is continuing its ongoing fashion collaboration with Rita Ora with a new spring collection combining a fresh floral colour palette with new designs....
F1Topps500x500
 
Formula 1 has confirmed a multi-year renewal of its partnership with Topps, which will see the Fanatics-owned company continue as the official licensee of Formula 1 trading card and sticker collections....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.