Post-Brexit, UK retail sales to the EU have dropped by £6bn, with non-food retail exports falling 18% since 2019. Despite booming European e-commerce, UK brands face increased logistics costs and trade barriers.
“The profound shift in the UK’s trade relationship with the EU has hit British brands and retailers hard. Successive waves of disruption caused by Brexit and the pandemic have significantly disadvantaged UK exporters who are having to navigate through increased friction and cost,” commented Richard Lim, CEO of Retail Economics.
