Monica’s Monthly Feature for GritDaily Analyzes the Brexit Situation
Monica says uncertainty is a prime concern for US retailers concerned about the UK’s exit from the European Union, says Chargebacks911® COO Monica Eaton for GritDaily.
When discussing Brexit, we typically talk about how the move will impact the UK and EU economies. However, the fallout isn’t limited only to those markets. Everything from regulatory changes and higher costs to poorer customer experience is on the table for US sellers, too.
“Despite the ambiguity and confusion, one thing is certain: the cost of doing business with UK consumers will increase,” Monica says. She points to several potential ramifications. For example, shipping and fulfillment could be complicated and see significant delays. The weakened British Pound could make US goods much more expensive for UK buyers.
This is a major problem, given the nature of eCommerce. “The digital marketplace is fast-moving and complex,” Monica explains. “Procedures need to be agile to keep pace with new technologies, behaviors and threat sources. We’re at a time when we need cooperation between merchants, card schemes and banks more than ever.” Despite that need, the Brexit fallout will add barriers between these parties, gumming up the works.
