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BREXIT: "UK could lose £33.4bn in trade"

BREXIT: "UK could lose £33.4bn in trade"

Scurri, an award-winning, cloud-based fulfilment platform which boasts some of biggest UK online retailers as clients, is predicting a £33.4bn loss for these online retailers due to the referendum result. It is also looking at the option of moving its operations to the UK due to the result to continue fuly servicing its customer base.

In 2015, £455bn was spent by European consumers online on e-commerce sites, £157bn of this was from the UK alone. For 2016, this figure is expected to reach over £510bn for the whole of Europe but the UK’s expected increase of £33.4bn to £173.6bn in 2016 could be lost as a consequence of the Leave vote succeeding.

Rory O’Connor, Founder and Chief Executive of Scurri, said: “This result is going to have quite a monumental effect on e-commerce sales in the UK and we have already seen proof of this with crashing for its users in the early hours of (Friday) morning since the official result was announced.

"Almost 10% of sales done on UK websites are from outside of the country, and now, this could all be threatened or even lost with consumers not willing to purchase their products off UK-based websites.

“It’s obviously very early days, but we’re going to be keeping an extremely close eye on how things develop and pretty soon, I can imagine our data showing us what many expected with UK online retailers really taking a hit due to this result.”

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