Retail figures paint grim picture ahead of Brexiversary

Grim retail figures have been released ahead of the one year anniversary of the European Union (EU) referendum.

From 2016-2017, UK consumers, on a daily average, made 3,923,336 purchases online, but that number plummeted on key Brexit dates.

The day referendum results were announced 1,642,100 purchases were made in the UK – a drop of 58 per cent against the daily average. The recent General Election also saw a significant dip and the day Article 50 was triggered saw levels stoop to a big low.

Chris Boaz, Head of Marketing, of PCA Predict said: “Currently British consumers spend more than any other shoppers in Europe, accounting for nearly one third of all online purchases. Yet as our data shows, Brexit has seemingly shook consumers’ confidence.”

“This has serious implications for online retailers and shows how hard they now need to work to not only gain, but also retain customers. If a consumer can’t easily purchase something online, via the checkout, then a retailer is in trouble.”

2016/2017Daily average online purchases in the UK3,923,336
24/06/16Referendum announced; Cameron announces resignation1,642,100
13/07/16Theresa May becomes prime minister2,030,040
03/11/16The High Court rules U.K. must hold a vote in Parliament before starting Brexit process2,270,370
05/12/16The Supreme Court convenes to decide whether Parliament or the Prime Minister has the power to invoke Article 503,581,000
26/01/17The government introduces a 137-word bill in Parliament to win the right to trigger Brexit1,784,710
01/02/17The House of Commons approves May’s bill by 498 to 114 in a first vote as fellow Tories prepare to fight for amendments1,950,350
13/03/17Nicola Sturgeon says she will seek a second vote on Scottish independence1,806,540
29/03/17Article 50 Triggered1,688,450
22/05/17Brexit talks begin: EU’s European affairs ministers approve the Commission’s negotiating proposals, giving Barnier a mandate to start the process1,673,510
08/06/17General Election1,579,670

Leave a Reply