The United Kingdom officially left the European Union on December 31, 2020 at 11:00 PM. The Brexit referendum had caused a lot of uncertainty and drama.
Now it is important for companies operating in Britain and Europe to understand the implications of Brexit and adapt to the new reality.
Post-Brexit marketing facts are critical in navigating this changed terrain and making informed decisions. The EU-UK Trade and Cooperation Agreement entered into provisional force in January 2021.
By delving into specific facts and trends, we can gain insight into the post-Brexit marketing landscape and equip ourselves with the knowledge needed to thrive in this era of transition and adaptation.
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How does this affect the economy?
- Exports to the EU fell by approx 5.3 billion British pounds.
- The value of imports decreased by 7.2 billion British pounds.
- Britain’s most important trading partner before Brexit was the European Single Market, which was responsible for this 51.6 percent of all imports and 53 percent of exports.
- The EU offers a quarter of the meals consumed in Britain. The most important food imports from the EU are fruit and vegetables, but also meat.
- Before Brexit, the EU supplied 80% of British food imports.
- During the first ten months of this year, exports were made by the Britain compared to the EU fell by 12% from pre-pandemic levels.
- British imports to the European Union have fallen by more than 20% compared to before the outbreak.
- Britain’s exports to the rest of the world fell 7 percent, or £12 billionfrom January to October 2021 compared to the same period in 2019.
- During the same period, Great Britain imports fell 3% to £227 billion pounds.
- The decline in exports and imports between the UK and the EU, with exports declining £5.3 billion and imports at £7.2 billionpoints to a significant shift in trade dynamics, which is likely to impact the economy as a whole.
- With a quarter of Britain’s food previously coming from the EU, mainly fruit, vegetables and meat, the changes in trade could lead to influence food supply and prices.
- The whole reduction in tradeboth within the EU and globally, signals a reshaping of the UK economic landscape post-Brexit.
Statistics on marketing after Brexit
- This is evident from a study by Econsultancy. 10% of respondents said they have implemented a Brexit marketing plan.
- In light of Brexit, 58 percent of respondents said their company had not yet made any changes and had no plans to do so.
- Before Brexit, more than half of the British imports (51.6%) and exports (53%) with the EU, which was its most important trading partner at the time.
- Before Brexit, the EU accounted for 80% of British food imports.
- British exports to the The EU has fallen by 12% and import from the The EU has fallen by more than 20% since before the pandemic.
- British exports to the rest of the country world fell by 7%and imports fell by 3%.
The prospect of marketing in the post-Brexit era
- Some major companies have decided not to change their marketing tactics, claiming that Brexit has had little effect.
- An example is the Next shopping street.
- Many retailers predict that prices will continue to rise after Brexit.
- Asda has become inventive with its advertising in anticipation of a rise in the number of people considering staycations.
- The use of more local shooting locations has increased.
- Some retailers see Brexit as an opportunity to show off their ‘Britishness’ (for example Wetherspoons Brexit coasters & Tesco brand jackets, with its white, blue and red color scheme), while others take a step back for fear of offending others.
- Britain’s main export markets are becoming less and less dependent on British goods.
- Britain is less dependent on imported raw materials.
- Between January and October 2021, two-way trade between the United States and the EU amounted to $627 billion, up from $532 billion in the same months of 2020.
- In the first ten months of 2021, two-way trade between China and the EU amounted to US$558 billion, up from US$479 billion in 2020.
- Britain’s two-way trade with the European Union stands at £308 billion versus £302 billion, suggesting the country has yet to recover from the post-Brexit trade pact.
Frequently asked questions
How has Brexit affected market access and trade for UK businesses?
Brexit has led to changes in trade agreements and tariffs. UK companies may have limited access to EU markets, requiring them to explore new markets or adapt their trading strategies.
What are the consequences of Brexit for international marketing strategies?
International marketing strategies must take into account new trade dynamics and regulatory requirements. Companies may need to tailor their campaigns to the specific regulations of the target countries.
How have consumer preferences and behavior changed since Brexit?
Consumer confidence and purchasing patterns have changed. Marketers must conduct updated market research to understand these changes and adjust their strategies accordingly.
What financial considerations should marketers take into account when planning post-Brexit campaigns?
Budget allocation, currency fluctuations and potential tax implications are financial aspects that marketers should consider when planning and executing post-Brexit campaigns.
How can digital marketing strategies be adapted to the post-Brexit era?
Digital marketing strategies must take into account localization, compliance with data protection laws, and tailored content that resonates with specific audiences in different regions.
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Conclusion: Marketing facts after Brexit 2026
Succeeding in the post-Brexit marketing world requires companies to be flexible, understand new rules and keep an eye on changing customer habits.
To achieve this, companies must adapt their strategies, consider new markets and communicate clearly with their customers.
It is essential for online businesses to use data and technology wisely. By staying informed and prepared to adapt as necessary, businesses can thrive in post-Brexit marketing.
Sources: Tweak, Kantar, BBC, Mopinion, Statista, MarketingWeek, Insights
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