Luxury eCommerce sites are looking to capitalize on Brexit as the UK’s economy starts to take off.
With Brexit fast approaching, the industry is ready to capitalize, according to research from Zootopia.
According to a report from the Luxury Commerce Association, Luxury commerce has been the number one eCommerce destination for the last 12 months, rising 10 percent from the year before.
Luxury retailers and eCommerce brands like Lidl and Zootopias newest competitors, Allmilmo and Zoom are all looking to expand their business and profit from the Brexit effect.
With Brexit, there is now a lot of uncertainty as to what the UK will do, said David Boulton, President of LuxuryCommerce.
“The British public will be less likely to support the Government’s Brexit plans, but it is important that luxury retailers look to invest in the country’s economy,” Boulon concluded. “
The UK is the fastest growing economy in Europe, so any growth is good, but if we are seeing growth in the luxury market then there is room for expansion,” he added.
“The British public will be less likely to support the Government’s Brexit plans, but it is important that luxury retailers look to invest in the country’s economy,” Boulon concluded.
For more news on the Luxurious Economy, watch Luxury Business and the Luxure Industry Watch.