Post-Brexit Discounting Trend on Fashion Products Revealed
25 February 2020 - 09:24 by David Aiken
In the month since the Brexit deadline arrived and the UK officially began its transition out of the EU, fashion brands which are based in Britain have been selling at lower prices than would usually be expected at this time of year.
This is according to a report from LovetheSales.com, which found that as well as consumers being able to buy garments and accessories from domestic brands via safe shopping online and on the high street for less, there has been a small but significant rise in the price of goods coming from other parts of the continent.
Study spokesperson Stuart McClure said that it looked as though fashion brands are pre-emptively making adjustments to their sales strategies and pricing in order to account for the likelihood of further changes coming in the wake of Brexit.
Furthermore, it is thought that with weak sales seen in the first weeks of 2020, retailers are simply seeking to do as much as they can to boost customer spending through discounting, which is being compounded by the uncertainty that still hangs in the air over the nation’s economic and political future.
McClure went on to point out that many British brands are also trying to gather together as much cash as they can through sales while there are still lots of details to be hammered out relating to the UK’s trading relationship with the rest of the EU.
With an impressive 12 per cent average dip in prices on British fashion products seen since the 31st of January, now seems like a good time for shoppers to pick up a bargain, so long as they have the cash to hand and are willing to capitalise on the precarious position that many brands find themselves in at the moment.