Oct 10, 2016
The British voted in favor of Brexit, which means that the UK will leave the European Union.It is likely that the entire revocation process will take two years,but it is true that Brexit will affect the European e-commerce industry.
In the short term, something has already happened. The pound has fallen to its lowest level since 1985 and recently lost 3% more.
UK consumers will spend less on foreign e-commerce sites:
Almost half of the 500 largest online retailers in the US come to the UK, the Internet retailer has found. You will probably see some of the less positive effects of Brexit. With a low book, you are likely to spend less on foreign e-commerce websites than in the past.
The UK market is more complex than today:
Brexit has just became reality, but the real business should take place in two years. Then, the United Kingdom will leave the EU and its free trade zone.This will complicate cross-border sales for online retailers in the US.
Online ads are not affected by Brexit:
According to consultancy L2, digital products (such as online advertising or digital intelligence) should not be directly affected by Brexit because the European Union does not impose rights on intangibles.
Brexit could be a good thing for the Netherlands:
In the Netherlands,some people think that Brexit could be a good thing for the country's economy.The strategic adviser Cor Molenaar believes that several international companies wishing to operate in the EU are leaving the UK and moving to the Netherlands.
In the Netherlands,a large logistics center will emerge:
The Netherlands is a friend of the United States,that they have good logistics and that the Dutch speak English well.Deposits will be built near Venlo and a large logistics center will emerge,Amsterdam is already the Internet center of Europe and will only be strengthened.
As a result of Brexit, some companies which offer cross-border payments services will be affected as well, and paymentship is no exception.But,there is another opportunity that is Netherlands.Paymentship can focus on the Netherlands market,that aims to expand his business of payment method.