.Last week, the United Kingdom held a referendum which concluded with the country voting to leave the European Union. Also known as Brexit. The next steps of this process involve the UK must negotiating trade agreements and terms outside the EU. This process could take anything between 2 to 4 years. Although these agreements will not directly involve the US, it is inevitable that there will be an impact on the global and US economy. So what could be the impact on the US Retail market?
Brexit Causes Uncertainty For The Global Economy
Following the decision to leave the EU, the UK must now take steps to leave the agreement which will involve a period of volatility. When the decision was announced early on Friday morning, the stock markets crashed With some of the leading names losing significant amounts of money in minutes This was due to concerned investors rapidly selling off shares. It wasn’t all bad news as the markets did regain some of the lost ground by the end of the day. However, there are indications that the next few months will be a turbulent time. For example, the strength of the pound against the dollar has dropped. Which, in turn, will impact on import and export of retail goods. In a growing world of online sales, with the UK potentially heading into recession, there may be an upsurge in people ordering online from abroad to send out from the US.
There are a few ways of keeping your retail store one step ahead against the prospective of global economic turbulence. For example, having a great website and a retail store that appeals to clients. Regular promotions, a focus on branding and forward planning are also important. AGRetail are experienced specialists in retail branding and marketing. With state of the art window graphic solutions for promotions and branding. Along with innovative store front designs and fantastic retail barricade ideas. AGRetail offer great ideas for every independent, national and corporate retailer.