Home / Knowledge / News / Apparel/Garments / Non-UK online customers take advantage of Brexit effect
Non-UK online customers take advantage of Brexit effect
26
Aug '16
Online retail customers are taking advantage of the sharp fall in value of sterling against the euro and dollar post-Brexit referendum. The volume of online retail orders being sent cross-border from the UK has risen in July—the first full month since referendum—as products on UK retail sites became attractive to foreign shoppers in Europe and the US.

The proportion of orders leaving the UK in July was recorded at almost 27 per cent, the highest percentage in the five year history of the IMRG MetaPack UK Delivery Index, which tracks a wide range of key benchmark metrics to enable organisations to benchmark performance, track trends and take informed strategic decisions.

“While it's hardly surprising that cross-border volumes have risen since the Brexit vote, the question is whether this upturn in orders will be temporary or sustained over a longer period. As the July average order value has risen on June, we might surmise that shoppers initially used the opportunity to snap up a bargain or two, but are now realising that the deals are very attractive and are loading up their baskets with more goods each visit. While this upturn is good news in a way, clearly there will be pressure on margins due to all products being discounted for cross-border shoppers, in effect,” said Andrew Starkey, head of e-logistics, IMRG.

“July is usually a month in which retailers enjoy a mini-peak in sales, but the impact of Brexit on shopper confidence is now being felt. The increase in order values from EU consumers snapping up bargains thanks to the drop in Sterling is welcome, however. We expect that over the next few months we'll see a return to much greater volume growth, ensuring that forecasts for the year are met,” said Kees de Vos, chief product officer at MetaPack, which provides e-commerce and multi-channel delivery technology to leading retailers. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search