SMIFFYS BREXIT UPDATE
Uncertainty about the impending BREXIT date is no doubt influencing high-street sales and consumer spending; according to CBI, sales for July & August dropped at there fastest rate since 2008. Dominique Peckett, director at Smiffys, provides an insight on the current situation.
“Consumers will be impacted by BREXIT; with uncertainty devaluing our currency against both the $ and €, the costs of goods will no doubt rise as procurement costs increase and difficulties with UK ports stem from a potential no-deal BREXIT”
Smiffys are committed to off-setting the negatives a no-deal poses and increased consumer costs, despite the lack of clarity from government bodies. In addition, with a possible abrupt exit from the customs union and no transition period, Smiffys are putting in place processes to contend with the threat to trade.
“We are mitigating potential disruptions with customs clearances at ports by stockpiling in both our UK based Gainsborough warehouse and EU distribution centre in Germany; we must be proactive to changing market conditions and every eventuality”