Author: Andy Mulcahy, Editor, eCommerce Worldwide & IMRG
We welcomed experts from Bond Dickinson, World First, Global-e, Computop, Metapack, WNdirect and arvato to share their insights on what impact the Brexit vote may have on the economy, payments, VAT, legal framework, delivery and duties.
So far, there has been very little negative impact from the data that IMRG tracks - the economic meltdown that was forecast has failed to materialise. In fact, many of the economic indicators have been quite positive.
Online sales revenue growth holding up well:
Record highs for the percentage of orders going cross-border:
Although there has been little impact so far, we must remember that Brexit is a long-term decision which has not really properly begun yet.
There are four significant phases that we might identify that could lead to sudden shifts in shopper, business and investor confidence:
What impact might Brexit have on specific areas of eCommerce?
Payments & VAT Compliance
In essence, it is too early to say what is going to happen with any serious degree of confidence – but things may possibly start to become clearer as we move into 2017.
Watch this space...