I came across this article on the Financial Times website (yes I know I don't strike you as an FT reader but I have my moments!) and it's amazing that before we've even 'Brexited', almost a third of retailers are considering changing suppliers following our vote to leave the EU.
Completely shifting supply chain sounds easy when you're just talking about it, but actually implementing it must be nothing short of a total nightmare.
The reality of Brexit at the moment is that we just DON'T KNOW. What's going to happen? DON'T KNOW. How's it going to change the way we travel around Europe? DON'T KNOW. How will it impact trade between Britain and the rest of the EU? DON'T KNOW. WE DON'T KNOW!
I suspect that the bulk of retail concerns are a jerk-reaction coupled with a number of other pressures the sector has been facing in the last 18 months due to the likes of the pension reform, national living wage and the apprencticeship levy. All we can do is sit back and wait to see what happens once TerTer sorts it all out!
Almost a third of retailers are considering changing suppliers and about a third expect to increase their sourcing from the UK, following Britain’s vote to leave the EU. According to research from Barclays, uncertainty about trade tariffs with the EU means retailers are lookingz to decrease purchasing from Europe, with Britain and Asia leading the list of replacements.