People less likely to buy British goods after Brexit vote

By

Cajsa Lykke Carlson

Published
Aug 5, 2016

A major new Ipsos survey across 16 countries looked at the reaction to Brexit in Belgium, France, Britain, Germany, Hungary, Italy, Poland, Spain, Sweden, Canada, US, Japan, Russia, India, Australia and South Africa.

It's a sobering read for Brits, with 58% of people in EU countries thinking it was the wrong decision for the EU, and 55% thinking it was the wrong decision for Britain. However, in non-EU countries, people were less concerned, and 54% of Russians think it was the right decision for Britain.

For retailers, Brexit could be bad news when it comes to cross-border selling. 27% of those polled say they are less likely to buy British goods or services, with Italy most likely to say they are less likely to buy British at 43%. A quarter, 26%, also say they are less likely to visit the UK on holiday, which would have a negative impact on the important tourism trade.

The poll also found that 53% of people in the nine EU countries think that Brexit will have a negative impact on the EU’s economy, 54% think Brexit will make the EU weaker, and 47% that it will reduce the EU’s influence on the world stage.

Bobby Duffy, Managing Director, Ipsos MORI Social Research Institute said: “The UK’s vote to leave the EU was a shock across the continent and beyond, and this survey shows it’s still something that many are coming to terms with. But there is not wholesale panic – in fact fears of a “domino effect” seem to be receding."

"There is, however, no doubt that the majority in Europe see it is a worrying outcome, one that brings risks for the UK, the EU and their own country. But the survey also shows there is no one opinion on this in the EU and beyond. There are plenty who see this as an opportunity as much as a challenge."