UK retail is one of the most competitive markets in the world, and by 2023, it will be even more so. With e-commerce taking over traditional brick-and-mortar stores, retailers need to be prepared for a rapidly changing landscape. As such, UK retailers must identify trends and opportunities that can help them stand out from the competition.
One of those trends is sourcing products from international suppliers. As costs rise domestically, manufacturers outside of Europe are becoming increasingly important sources for UK retailers. In particular, Vietnam has become an attractive option due to its favourable cost structure and skilled labour force.
This trend presents great potential opportunities for UK retailers looking to gain access to high quality products at low prices without sacrificing product safety standards or lengthy delivery times.
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