Since the decision to leave the EU in 2016, the ways manufacturing organisations are conducting business outside of the UK is changing. Fortunately, a recent report by Barclays Corporate Banking has revealed that much of the world is prepared to pay up to 22% more for British-made goods. This desire for British goods could add an approximate £3.45 billion to the economy each year.
So What Does This Mean For Manufacturing Businesses?
UK manufacturing businesses should be embracing this demand for British-made products; especially food, cars, clothes and alcohol, as these have been reported the most popular goods. In order to take advantage of this booming market, manufacturing businesses should consider:
- Offering the option to pay in multiple currencies to appeal to overseas consumers.
- Making their website content available in multiple languages.
- Keeping shipping costs low where possible so that overseas purchasers are not put off by high shipping costs.
- Building an online presence on social media to grow a digital audience and share content.
- Investing in marketing and search engine optimisation to ensure international customers can find your online store quickly and easily.
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