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More retailers are expecting negative Brexit impacts over next five years than those anticipating benefits, IRX survey reveals

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Brexit: bad for business, believe retailers ahead of IRX 2020
Brexit: bad for business, believe retailers ahead of IRX 2020
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Majority of retailer see Brexit as a problem, rather than a positive, new pre-IRX survey reveals

More than 36% of retailers think that leaving the EU at the end of this month will have mostly negative effects on their business over the next five years.

 

These include 31.9% who are expecting more negative than positive impacts and 4.3% who anticipate strongly negative consequences.

 

However, at the same time, more than 25% think Brexit will either be very beneficial (12.6%) or will bring more positive than negative results (12.8%). Some 38.3% think that the balance will be neither positive nor negative.

 

These findings are the results of a survey of retailers carried out in November and December by IRX, the leading e-commerce Expo, digital marketing event and retail conference. Retailers were asked: ‘Assuming that the UK’s Withdrawal from the EU goes ahead on 31 January, what is your current view of how this will impact on your business overall in the next 5 years?’

 

Stuart Barker, Portfolio Director for IRX explains: “Now we know the UK is definitely withdrawing, retailers are directing their attention towards how to turn this change into an opportunity. Fortunately, the fundamental international nature of e-commerce means that the industry is well placed to thrive in the post-Brexit trading environment.”

 

Retailers looking to expand globally post Brexit and improve their online sales in 2020 and beyond should visit IRX, incorporating eDX, on 1 & 2 April 2020 at the NEC, Birmingham. Under the theme of ‘Growth and Cross-Border’ the conference will provide particularly valuable insights on expanding internationally.

 

Among the sessions are ‘Seizing the cross-border opportunity: creating a successful strategy for expanding overseas,’ ‘How local do you go? Creating a truly targeted international offering,’ and ‘The journey to growth: identifying which markets offer the best growth potential.’

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