Because the UK authorities negotiates commerce offers in markets throughout the globe, analysis from Barclays Company Banking launched lately reveals how British exporters can profit from annual worth premiums of as much as £3.5 billion in ten international locations. Outcomes present UK-made merchandise are nonetheless held in excessive regard around the globe and customers are prepared to pay a premium.
In a world research of over 10,000 individuals throughout ten markets—the US, Republic of Eire, France, Netherlands, Germany, South Africa, the United Arab Emirates, India, China and South Korea—Barclays requested respondents how a lot additional they’d be prepared to pay if merchandise like foods and drinks, clothes and automobiles bore a Union Jack kite mark.
Shoppers in populous, far-flung markets are ready to pay most for British-made items. These in India paved the way, being ready to pay an 11.8 per cent gross premium for merchandise made in the UK, adopted by the UAE (10.9 per cent), the US(10.4 per cent), South Africa (9.6 per cent) and China (8.8 per cent).
Their willingness to half with additional money is mirrored within the esteem wherein gadgets ‘made in Britain’ are held. Two thirds (66 per cent) of customers in China and India mentioned they’d be inclined to pay extra for items displaying the Union Jack as a result of they consider them to be of a better high quality. That is approach forward of the survey’s spectacular common of 39 per cent, in keeping with a press launch from Barclays.
The image is enhanced when taking a look at customers who say they’ve already paid extra for British merchandise with China main the rankings right here at 63 per cent, adopted by India (60 per cent) and the UAE (56 per cent).
Moreover, when respondents have been requested if are shopping for extra British items than they did 5 years in the past, 69 per cent of customers in India, 64 per cent in China and 64 per cent within the UAE mentioned they’re more and more shopping for British.
Barclays Company Banking’s analysis requested individuals the worth premiums they’d connect to quite a few completely different British-made items. These have been: normal meals merchandise, alcoholic drinks, delicate drinks, vogue gadgets, excessive precision instruments, automotive merchandise, homeware and video video games.
The outcomes present that many worldwide customers can’t get sufficient of British meals merchandise with a gross worth premium of 11.7 per cent hooked up to this class. This was adopted by alcoholic drinks at 11.2 per cent and homeware at 10.4 per cent with UK vogue at slightly below 10 per cent.
Fibre2Fashion Information Desk (DS)
Because the UK authorities negotiates commerce offers in markets throughout the globe, analysis from Barclays Company Banking launched lately reveals how British exporters can profit from annual worth premiums of as much as £3.5 billion in ten international locations.Outcomes present UK-made merchandise are nonetheless held in excessive regard around the globe and customers are prepared to pay a premium.