Brexit shines a spotlight on the risks, but also opportunities, of European e-Commerce for Switzerland

28 June 2016

 

  • Shock UK referendum result underlines need to consolidate and improve European project
  • For e-Commerce, opportunities are there but must be given greater impetus
  • Opportunity for Switzerland as stable hub for HQ of cross-border sales companies, also thanks to new fiscal changes

 

Europe awoke last week to a shock referendum result, with UK citizens rejecting membership of the European Union (52% Leave; 48% Remain). Experts will argue about the exact causes of the of UK voters’ dissatisfaction, however the bottom line is indisputable: British voters felt that Europe does not do enough for them. Europe must rectify this situation as soon as possible. There is still much to do at a European level to reduce barriers to trade and investment and to bring widespread wealth to member states and partners.

 

A forthcoming report published by the NetComm Suisse e-Commerce Observatory entitled Unlocking the Potential of Swiss e-Commerce finds that online sales are increasing at an incredible rate, and set to reach 500bn€ in Europe this year (link). Of special interest are cross-border purchases: there are currently 65 million Europeans who buy online from other EU countries, however, the potential EU market is around 685m people, a market which cannot be neglected. As more consumers move towards digital shopping and brands become more adept at creating omnichannel experiences, the time is perfect for e-Commerce to take off, but Europe must enact effective policies and demonstrate clear leadership to protect and empower this incredible market potential.

Discover more by downloading the full press release attached.

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