- Vivian Hendriksz |
London - Although Brexit maybe weighing heavy on UK brands and retailers across the nation, new research indicates that international shoppers are unlikely to be deterred by the UK's exit from the European Union - if prices do not increase that is.
European and US consumers plan on 'shopping as usual' from the UK following Brexit, in spite of concerns that potential tariff barriers could discourage them from doing so, according to data from MetaPack, an eCommerce management tool. 58 percent of shoppers surveyed for MetaPack’s annual 'State of eCommerce Delivery Consumer Research Report' said Brexit would make no difference to their shopping behaviour. French shoppers (67 percent), Dutch shoppers (65 percent) and Italian shoppers (62 percent) were the most likely cross-border consumers to continue buying goods from the UK following Brexit, in addition to German (54 percent) and Spanish (48 percent) shoppers.
International consumer remain price and delivery conscious following Brexit
In addition, a little over a quarter of US shoppers (27 percent) said they will be buying, even more, goods from the UK after Brexit. For leading fashion etailers, such as Asos, Farfetch and Boohoo.com, whose sales are also largely driven by cross-border shopping, this is good news as there has been concern over the future growth of the UK fashion sector once the nation leaves the EU. "This is the first time that we have been able to address the topic of the UK leaving the EU with such a large number of overseas consumers and it is heartening to see the sentiments expressed," commented Bruce Fair, Chief Revenue Officer at MetaPack.
"However, when we asked what the deterrents would be to purchasing from the UK, we found that over three quarters (77 percent) of shoppers said if goods became more expensive than those they could purchase locally and 63 percent said if delivery costs increased." UK retailers who are keen to tap into US shoppers growing interest in British goods following Brexit should keep in mind and accommodate the particular delivery expectations of US customers. For example, three quarters (75 percent) of US shoppers prioritise buying from retailers that offer a delivery loyalty programme, such as Amazon, in comparison to 44 percent of shoppers in the UK.
70 percent of US shoppers would also be deterred from making a purchase from a UK retailer following Brexit if additional taxes were applied to the end price. However, as international shoppers do not like unexpected surprises, more than two-thirds (67 percent) check to see what additional taxes will be applied to their purchases in addition to the shipping price before making their final decision. Therefore in order to attract international shoppers following Britain's exit from the EU, retailers are encouraged to manage their delivery costs and make any additional tax costs as clear as possible.