According to an authoritative research institute NPD survey, which is different from the good growth performance of previous years, in the past year, under the general recovery of the overall market, the UK children's toy market has grown at a rapid pace. Do not increase and fall, becoming the largest decline in the Western countries.
Brexit leads to economic slowdown and consumer confidence appears to be waning
The process of Brexit negotiating was not smooth, and various uncertainties led to a slowdown in economic development. The exchange rate between the pound against the US dollar and the euro continued to fall. In such an atmosphere, consumer confidence has deteriorated, affecting the entire retail market, including the children's toy industry. Brexit is likely to lead to political instability in the UK. In terms of economic activities, copying the EU single market and tariff regulations and establishing a "soft border" with Ireland will help maintain the convenience of bilateral trade. However, the British government is currently unable to come up with a plan acceptable to all parties. In terms of the toy industry, most of the worries are concentrated on the goods between the EU and the UK. At present, more than one-fifth of UK toy imports from the UK come from the European Union. Due to the Brexit relations, import procedures are more complicated, customs clearance time is longer, and tariffs are even higher. In addition, Brexit has also begun to shake Britain’s position in trade with the European Union. Due to language advantages and good business environment, the United Kingdom has always been the first stop for North American companies to enter the EU market. However, in the context of Brexit, more and more companies have begun to set up pan-European regional headquarters outside the UK.
Outlook: Market Entry Adjustment Period
Although there are a lot of variables, the toy market is relatively ideal compared with other retail industries. However, the challenges remain. It is expected that full adjustment will be completed this year to digest the existing negative impact. From the perspective of sales channels, the rise of new retail sales also provides opportunities for online and offline sales channels. At present, British toy e-commerce has grown very fast. It is expected that the scale of e-commerce will grow further in the coming years.
The company specializes in the production of children's slides, extension equipment, plastic toys, children's furniture, naughty fort and other children's amusement facilities. It is a high-tech enterprise integrating design, production and sales. Company official website:. support hotline. Company Address: No.16, Chuangqiang Road, Lucheng District, Wenzhou City Light Industry Industrial Park.
Warmly welcome your patronage, the company dedicated to serve you!
Yuyao Shenghe Electrical Appliance Co., LTD , https://www.yyshenghe.com