No-deal Brexit could unleash a flood of grey goods in the UK

Geometry UK CEO Michelle Whelan observes with CNBC

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Aug 22, 2019
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There could be an “explosion” in goods sold via the grey market in the event of a no-deal Brexit, according to a British retail expert.

The term “grey market” refers to legitimate products sold via unauthorized — though legal — sellers, while a “black market” is when scarce products are traded illegally, or when goods are counterfeited.

Michelle Whelan, chief executive of retail marketing agency Geometry U.K., told CNBC that if Britain exits the EU without a deal, the price of some legitimate products may rise by more than 10% due to scarcity. Unauthorized resellers that may have previously bought overstocked or out of season items in bulk may be able to undercut prices, especially online.

“Here in the U.K., we’re used to open markets where we purchase goods from known and approved channels. With a ‘no deal’ there is a huge opportunity for a grey market explosion,” she told CNBC by email.

Please click here to read more: https://www.cnbc.com/2019/08/21/a-no-deal-brexit-could-unleash-a-flood-of-fakes-retail-expert.html





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Geometry UK

Our ambition is to drive growth by innovating where and how people discover, buy and use your products and services. Our proven growth framework unlocks growth opportunities in consumer (need state), channel (mission) and category (demand space). Our creativity changes behaviour in the moments that matter. With expertise across Retail & Shopper; Omni-Channel & Digital Commerce; Experiential; Brand & Design; Innovation; and B2B & Trade, our promise is to deliver ideas that create growth for your brand. Our clients include: Coca-Cola, GSK, Kimberly-Clark, PwC, HSBC, GORE-TEX, Shell, Diageo and Unilever. We’re led by our values. We are brave, we are trusting, we are reinventive and we are human. The people who make up Geometry are Geometry and we work hard to look after them – whether it’s our award-winning wellness programme, our IPA Gold standard training, our industry-leading benefits or our funding programme for employees’ passion projects.

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