Does Your Retail Store Have a Brexit Battle Plan?
It’s safe to say the Brexit journey has been a long and complicated one. From when the vote took place back in June 2016 to now in November 2020, Brexit still isn’t quite yet complete, despite all the buzz that is still continuing.
It is now common knowledge that if no trade deal is reached by the end of 2020, certain rules will come into place from January 2021. And even if there is a deal, there will still be changes and extra burden for UK businesses.
So, what does this mean for the retail industry?
If a deal is not agreed, 85% of all foods imported into the UK from the EU will be subject to tariffs of more than 5%. This is a huge percentage and will more than likely affect every food retail business in the UK. This could also affect goods other than food. Over time, this will become a normality, but to begin with, it will be a shock to the system.
So if you are in the retail industry, you might be wondering ‘what can I do?’
The increased tariffs inevitably means price increases for customers. The news of this may cause panic buying in December, even more so with the planned lifting of the nationwide lockdown on December 2nd. Panic buying clearly means more stock needed, increasing the potential need to stockpile for retailers.
Click and collect
As if all this wasn’t difficult enough to contend with, we have now been placed into a 4-week national lockdown. A reprieve for the retail industry is that, unlike the lockdown in March, they are allowed to offer customers a click and collect service. Some retailers are opening up shops and either allowing customers to collect their items or are dropping items in customers cars. Either way more storage is needed to house this extra stock and our containers are a perfect solution.
Retailers may wish to stockpile products ahead of the tariff increases. This would then postpone the costs as they would have enough stock to last them into the new year. This occurred in 2019 when retailers stockpiled ahead of a potential no deal Brexit at around the same time as the Christmas shopping period.
The issue with stockpiling is where to store everything. Storage containers are being used by retailers due to their flexibility. They can be placed neatly behind a shop, an easy distance to restock from. Shelves and racking can also be installed, keeping stock neat and tidy until it’s needed.
At Mobile Mini, we can help you turn the dreaded ‘B word’ into ‘Battle Plan.’ To receive tips on how to create your Brexit battle plan, sign up here.