Flat Screen Support

Flat Screen Mounts, AV Furniture, Stands & Trolleys Sales & Consultancy

The Euro to the GBP Exchange Rate Not Affecting Our Export Business

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As everyone knows, a strong GB Pound (GBP) exchange rate against the Euro or US Dollar (USD) enables cheaper imports. Hence, when the GBP was strong against the USD, imports of products priced in the USD were cheaper. It was also great if you were going on holiday, as you got a lot more USD for your GBP.

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Over the last few years, the relatively weak GBP versus the Euro meant that our exports to the Euro nations were less expensive, and our imports from those nations were more expensive. That said, if the majority of products being imported from Euro nations were the more expensive and higher-end products, then it didn’t really matter too much. If you’re prepared and able to spend £100,000 on a new Porsche then spending an extra £5000 didn’t seem to matter.

Last year we launched a whole new range of products into the EEC, and invested heavily in its promotion. Clearly, we were concerned that as the exchange rate approached 1.4 Euros to the GBP this would make our exports to the Euro nations more expensive, hence restricting our export sales.

However, by carefully restricting and selecting very specialist items, it appears that our concerns were not justified. It appears that as our export products are not ‘me too‘ products, our Euro customers were happy to keep purchasing them. Certainly, we could not survive exporting low cost VESA75 or VESA100 TV wall mounts, but why would we even try? The same very low cost mounting brackets being sold in the UK are available in Euro countries too.

Even with the current strength of the GBP versus the Euro, our like-for-like export sales have increase by a substantial 47% year-on-year. Clearly, it’s in our interest to expand this business by introducing a wider range of products, but we know we have to be very careful to select only the correct and most suitable products.

images  For more information, please call 0845 835 0266

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This entry was posted on March 12, 2015 by in Product News and tagged , , , , .

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