Well, what a weekend. The unthinkable has happened and we are on our way out of the EU (although the referendum is not legally binding) and our two main political parties are imploding. This is not the time or place to argue the rights and wrongs of the people’s choice. However I have had several conversations with clients who are concerned about their ecommerce strategies and I would say this: For businesses of all sizes this is going to be an unprecedented and probably bumpy ride. However, if your business is involved in selling online then to use a well worn cliché Keep Calm and Carry On. Because the fact is that regardless of what happens politically, commercially the UK has some fantastic strengths. Here are a few reasons to remain confident:
- We will get some kind of agreement on trade and the UK will remain a gateway to Europe.
- The UK is the largest ecommerce market in Europe and is worth £52 billion. Nearly twice the size of its nearest rival France.
- The UK is the world leader in ecommerce and accounts for 14.5% of all on line purchases.
- The UK has the highest spend per online shopper within Europe.
- The UK is an English language market and so requires minimal labelling changes.
- With a low sterling exchange rate our goods have become cheaper.
We are and will remain for the foreseeable future the largest market for online shopping in Europe. And whatever deals are finally hammered out we will continue to trade with our European neighbours even if we don’t have a say in the creation of their regulations.
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With thanks to Ecommence Insights.