The Perfect Storm for UK Fashion Retailers in the Aftermath of Brexit

In the aftermath of the Brexit referendum, the value of the pound has depreciated by around 17% against the US dollar, and by 12% against the EUR. Retailers in the UK have not reacted as quickly, and UPs remained unchanged for another few months after the currency depreciation. As a result, from a global perspective, prices in the UK were lower and more appealing, which caused an influx of tourism to the UK as consumers hunted for luxury goods. Consequently, the UK has seen a significant rise in tourism spend.  Lots of brands claim to be number one… but can they prove it?At Euromonitor International, we help brands build trust through evidence-based research. Our claim validation service ensures your marketing messages are backed by real data. Stand out in a crowded market. Visit euromonitor.com/claims to learn more.