ODM has yet to get any orders for Brexit promotional products. Many of our big clients are not celebrating. ODM are ardent supporters of free trade and are also worried. Nevertheless, here is a branded Door Stopper and if you are celebrating we can help you.
We have been big fans of the European Union (EU), and the peace and prosperity it has brought.
So, what are the impacts – Brexit Promotional Products?
Uncertainty can kill business. There will be an impact on trade when Brexit is officially implemented in March 2019. This means that we are unable to price products for DAP or DDP incoterm conditions for delivery after 1st of April 2019. We do not know what the import duties will be, so we do not know the costs that we will incur to deliver to the U.K.
Learn about incoterms here to understand the risk for Brexit Promotional Product Deliveries. Whilst there may be a transition period for implementing this Exit, this just delays the uncertainty.
Port congestion can certainly be a serious issue. You can see some examples here from previous blogs. With all the trade barriers going up, we can certainly expect serious delays and cost implications from products being stuck in ports and at customs.
As part of the EU, British companies can import and sell their goods freely anywhere in the EU. We don’t have to pay extra taxes and things flow smoothly. The EU also has agreements allowing smoother trade and sometimes free-trade with other countries such as Norway. Numerous other agreements with major countries like China, USA & Japan may be negated.
Brexit Promotional Products
Here are some items that could be used for Brexit Promotional Products. I guess there are commemorative coins that could be given out by banks or companies who wish to celebrate.
Humorous Promotional Products could work well. We certainly like this door stopper, as it ties in nicely with keeping the door shut/opened depending on your point of view.
There is certainly a positive use for fidget spinners. It could show that things, like the world, keep on spinning, and that there is some continuity to business.
Hark back to the old days with some Vintage or retro promotional products for Brexit.
Many people will feel a little helpless with lack of control and direction. Therefore, you might want to look at Emergency items like these emergency charging stations.
As with every knock to an economy, like a Typhoon, you need to dust off and get back to work. There may be some benefits. One example would be a construction boom after the storm. It’s just rare that these are so self inflicted.
How can your company navigate through these impacts?
One way that your company can navigate through this obstacle would be localizing production. For companies that have trade in the U.K, localizing production can help to lower costs of production, as there will be no tariffs for individual components of each good. The trouble these days is that many companies buy raw materials and components from different countries.
Localizing all production for Brexit promotional products in the UK would also be an issue when you have multinational clients. Shipping from the UK is very uncertain right now since we do not know what duty rates will need to be applied. Therefore, the easier solution is to manufacture outside the UK and supply directly. Our blog shows how easy it is to make and ship directly from factories.
Another blog shows how to use technology to track inventory and ship direct to clients. Inventory control and managing duties and customs will be more and more important as trade barriers go up.
Many politicians in the UK suggest that Brexit offers an opportunity for trade with developing countries. This is something that the UK already had with the EU, but it seems they believe they can do a better job by going it alone. We do not really understand why or how this should be the case, but let’s see and hoping for the best…
In June 2016, Britain shocked the world by announcing she was leaving the EU. This was the result of a referendum of 23 June 2016. In the referendum, a majority of 52% of British voters supported leaving the EU. This development has gone on to have effects worldwide. These impacts certainly include economic impacts, among others. The U.K. will feel a majority of the impact from the referendum. However, people and entities around the world will certainly see some changes as a result of the vote. ODM really hopes that the UK reverses direction away from Brexit.