Every day 6 billion euros “escape” London! Great losses after Brexit

Every day 6 billion euros “escape” London! Great losses after Brexit

After Brexit, the country stopped complying with a series of rules and regulations under the EU regulatory framework. It started to promote bilateral economic and trade relations by the UK and the EU’s new laws after Brexit. Almost from the very beginning, the new post-Brexit regulations have had devastating consequences for the UK’s consumer, logistics and financial industries. Consumers have to pay more than 20% extra After the Brexit, British consumers found that they had to pay extra when buying goods online from EU sellers. The additional cost mainly comes from value-added tax or business tax. Before Brexit, as a […]

The epidemic has forced the UK to accept online shopping

The epidemic has forced the UK to accept online shopping

It has been more than a year since the British official confirmed the first case on February 1, 2020. Even if the United Kingdom first implemented a national lockdown on March 23, it has been almost a year. This year, the British economy and business were hit hard, but one industry was untouched and became the biggest beneficiary of the epidemic. This industry is e-commerce. According to data released by the British Retail Consortium, 2020 was the worst year for the British retail industry due to the epidemic lockdown impact. However, as consumers turned to online shopping for safety during […]

Online purchases from EU are getting more expensive

Online purchases from EU are getting more expensive

Some shoppers have found their purchases from EU stores getting more expensive. It’s because not all charges are covered by a Brexit trade deal between the UK and EU. So what are these fees and how can you avoid them? I want to buy a £50 jumper from the EU, what do I need to know? Value added tax (VAT), a sales tax, has always been required on EU goods. And since Brexit, the way it is applied has changed. Previously, you would have paid the local VAT rate. So if you bought your jumper from a shop in Sweden, […]

More than half of U.K. consumers prefer digital shopping

More than half of U.K. consumers prefer digital shopping

Adventuring to different markets worldwide, PYMNTS continues to document how the digital shift that caught fire in 2020 continues shaping spend trends and consumer sentiments. The January 2021 Global Digital Shopping Index: United Kingdom Edition is based on a survey of more than 2,000 consumers and 560 merchants in the U.K. Among important findings of the new study is this: “The U.K. stands out in our study for the scale of its digital shopping shift: 54 percent of U.K. consumers now prefer wholly in-store shopping experiences. The rest are more inclined toward digital native shopping experiences in which they shop online and […]

U.K. retail sales fell more than twice in January lockdown

U.K. retail sales fell more than twice in January lockdown

U.K. retail sales fell more than twice as fast as expected in January as the latest national lockdown closed stores in what’s traditionally a busy period with post-holiday discounts. Sales in shops and online fell 8.2% after posting a small increase in December, the Office for National Statistics said Friday. It was worse than the lowest forecast and the third consecutive downside surprise. While the reading was less severe than the 18% drop during the first lockdown in April, it underscores the toll the restrictions are taking on retailers. All non-essential stores to shut for weeks at a time, damping […]