Impact of Brexit on Apparel - Thematic Research

Impact of Brexit on Apparel - Thematic Research

Summary

This report provides a comprehensive overview of the retail, consumer and regulatory trends post-Brexit along with a discussion on changes in the apparel industry. The report goes on to discuss trade agreements made in response to Brexit as well as the impact on the retail value chain and players.

Brexit has significantly impacted consumers and retailers operating in the UK and the EU in a myriad of ways, including trade tariffs, movement of goods, changes in the labor market, and general repercussions relating to consumer attitudes and buying behavior across the region.

ScopeAfter months of negotiations, the UK and EU managed to agree on a deal that would determine their relationship going forward, which came into effect at 11pm on 31 December 2020, following a transition period (sometimes called an implementation period) that allowed discussions of new negotiations between the UK and the EU.Brexit will also provide fresh opportunities for retailers to consider and explore. there are still a lot of unknowns around Brexit’s impact on the retail landscape, with a lot of moving parts.The biggest shift will be in the administration and paperwork, such as new customs and ‘proof of origins’ declarations. While the largest retailers should be able to ultimately absorb these new ways of operating relatively easily, it will prove a much more noticeable burden for smaller companies.Reasons to BuyGain an understand of the impact of Brexit on the apparel landscape, in regulations, for retailers and brand owners.

Companies Mentioned

ASOS
Gymshark
H&M
JD Sports
The John Lewis Partnership
Next
Nike