We’ve all seen the dire financial headlines about the Brexit aftermath: the pound falling to a 31-year low, major U.K. retailers suffering drops in their share price, and $2 trillion lost off the global market. But what will it mean for e-commerce in particular – in the U.K, in Europe, and globally?
The short answer: it will undoubtedly be more complex for U.S. companies to sell to British buyers. For Top 500 web merchants, the U.K. is the top country to ship to (outside of North America).
Irish cloud company Scurri put an actual number to the potential damage that could be done by Brexit. “Almost 10% of sales done on UK websites are from outside of the country, and now, this could all be threatened or even lost with consumers not willing to purchase their products off UK based websites,” Scurri Founder and CEO Rory O’Connor told the Post & Parcel.
It’s not all dark clouds. As the digital channel becomes more and more important, Haydn Shaughnessy sees an opportunity for the U.K. to become a top player in cross-border e-commerce (that is, once it develops the right platform).
An independent e-business consultant lays out well-rounded list of positives, negatives, and opportunities – including the possibility of the U.K. becoming the heart of both e-commerce and technology – that could come in the future.
From international buyers cashing in on the weak pound (winner) to overseas supply chains faced with new tariffs (losers), get an overview of who’s in a good and bad position post-Brexit.
Talking on a macro level is one thing, but what does this mean for an individual? A small business owner in the U.K. ponders how the big news will affect his day-to-day operations, costs, and expansion plans.
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