In my previous letter to Lingerie Insight readers, I mentioned that the Brexit vote has had little impact on consumer spending, and one month on, this statement is still true.
Sales may have slumped 0.3% in August, but that was put down to warm weather and the Olympics distracting consumers’ attentions away from the shops.
Even the likes of John Lewis, which saw a 14.7% fall in profits in the six months to July, said the UK’s June 23 vote to leave the European Union has had “little quantifiable impact on sales so far”.
Even so, the EU referendum has had an impact on the UK sterling, with the pound falling below crucial levels against both the euro and the dollar, and British retailers would do well to take advantage of this, by tapping into international markets.
In recent months there has been a sharp rise in orders leaving the UK, as shoppers made the most of the relative strength of their currencies, so there’s never been a better time to strengthen your global reach.
One company that is helping UK retailers to do just that is MallforAfrica, a virtual shopping mall that buys products from British shops and sells them direct to consumers in Africa.
In a special report in Lingerie Insight’s October issue, Beautifully Undressed – one of the many boutique brands that has taken its position on MallforAfrica – speaks to the owner of the app about the benefits of selling lingerie on the continent.
Click here to read the October edition of Lingerie Insight now.