The impact of Brexit on your furniture
Most furniture products are produced globally outside of the sterling area, and as a result have been and will continue to be effected by the movement in the exchange rate. SInce Brexit we have seen prices of goods increasing by up to 20% and it looks like these prices are unlikely to come back down anytime soon. In fact economists are predicting a continual rise while the economy adjusts to Brexit.
We at The Place for Homes forward buy many ranges, so we are able to delay increasing our prices for some considerable time allowing us to pass on this saving to our customers and giving them the best possible price on their purchases. The important thing to remember is that once these stocks of both goods (in our case furniture) and currency are exhausted, prices will rise.
Many people assume that goods in the UK will be unaffected, however as we've seen with the recent battle between Tesco's and Marmite, it is raw materials, and even packaging which is pruchased outside of the sterling areawhich impacts on prices. For Example many furniture products made in the UK will also be subject to these increases as the raw materials are sourced outside of the sterling area i.e soft fabrics are manufactured in northern Europe and leathers are a world commodity, as well as dining & occasional furniture that is produced in the far east and often reassembled in the UK.
Now is the time to buy!
Wherever you make your purchases the exchange rate will undoubtedly affect the price of furniture over the next few years as prices begin to increase. This is a window of opportunity for customers to get much, much more for less and enjoy their new home comforts over the festive season.