MARKETING POST-BREXIT ADAPTING ENGAGEMENT STRATEGIES TO CHANGING CONSUMER BEHAVIOUR A Rakuten Marketing report produced in partnership with the Centre for Retail Research 1
CONTENTS 1.... Introduction 1.1... Key findings 2.... The impact of Brexit on UK consumers 2.1... Key findings and marketing takeaways 2.2... The strength of retail spending 2.3... The outlook for living standards 2.4... Attitudes towards goods made in Britain 3.... The impact of Brexit on premium brand shoppers 3.1... Key findings and marketing takeaways 3.2... Trust in premium brands produced outside the UK 3.3... Spending on premium brands produced outside the UK 3.4... Spending on premium brands in general 3.5... Price increases and demand for premium brands 3.6... Attitudes towards online delivery price increases 4.... The impact of Brexit on UK holidaymakers 4.1... Key findings and marketing takeaways 4.2... The impact of Brexit on future travel decisions 4.3... The impact Brexit has already had on travel decisions 4.4... How travel has been impacted by Brexit 5.... Methodology 6.... About the Centre for Retail Research 7.... About Rakuten Marketing PAGE 1 2 8 8 10 12 13 14 14 17 19 20 21 24 25 25 26 27 28 31 32 33
1. INTRODUCTION On June 23, 2016 the UK voted to leave the EU. The outcome of the Referendum will change Britain s relationship not only with the EU but also with the rest of the world. New trade deals are predicted to alter the consumer market as we know it and in turn affect consumers purchasing behaviours. As a result, marketers tactics will have to adapt in order to address the new post-brexit shopper profiles which are likely to emerge. To help you successfully transition your campaigns to continue to reach your target segments in a future outside of the EU, we present you with our Marketing Post-Brexit report. This report provides insights gained from a specially commissioned survey of 1,000 consumers in the UK carried out by the Centre for Retail Research. The research included here presents the potential post-brexit changes in consumer spending, living standards, pricing issues, brand loyalty and buying patterns in the premium brand and travel verticals. Our report is neutral regarding whether Brexit is a good or a bad thing. At the time of presenting our findings, no one knows for sure what the terms of leaving the EU will be: debate around hard versus soft Brexit continues to dominate headlines. However, there is a strong consensus of opinion that the process of establishing new relationships between Britain and the world will reshape life in the UK both for consumers and the companies that service their needs. In the following pages, we provide you with key highlights and marketing takeaways to help you gain insight and formulate effective post-brexit marketing strategies. 1
1.1 KEY FINDINGS 1. The UK economy has continued to grow and UK consumers have continued to spend, despite wide forecasts that a vote for Brexit would rapidly lead to a recession The Bank of England revised its original post-brexit growth forecast for 2017 from 0.8% (August 2016 estimate) to 2.0% (February 2017 estimate). 2. Polarised views on living standards reflect the Referendum result but the expected collapse in consumer confidence has not occurred Over the next six months, 37% of people are very or quite sure they will be better off, whilst 40% think they will be worse off or not better off. 3. UK consumers may favour goods made or sourced in the UK post-brexit Although more than one third (33.4%) felt it would make no difference, 19.6% of respondents felt that shoppers would strongly prefer goods made/sourced in the UK, and a further 32.6% thought that there would be some effect. 2
Whilst sentiment suggests that people will still purchase premium products if prices rise slightly, the viewpoints on what Brexit will do to spending on these brands overall is completely polarised. The customer segments marketers target are likely to be completely split in how they approach shopping over the next few years. Whether audiences are cautious or optimistic about the effects of the decision to leave the EU, retailers need to make use of data and programmatic targeting to engage these different groups in the way that is most relevant to them. Our findings make it clear that marketers must work hard to understand their customers better if they are to engage customers successfully in this unsettled market. Mark Haviland, Rakuten Marketing s EVP Global Development 3
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4. Foreign-produced premium handbags, casual apparel and formal clothing brands are most likely to be affected by Brexit When asked about specific product categories produced abroad, we saw customer trust vary. The potential loss of trust was strongest among handbags (41.1%), casual apparel (39.3%) and formal clothing (37.8%). 5. Price increases of up to 10% won t impact all decisions to purchase premium products When facing a price rise of up to 10%, 61.5% of Brits would buy the premium brand anyway, compared to only 5.9% who would refuse to buy the item. The rise from a 10% increase to a 15% price increase was expected to make over a fifth of shoppers switch products. 6. There is a division in outlook for spending on premium brands Whilst some consumers remain confident their spending on premium brands won t be affected by Brexit, others are cautious. 49.6% of shoppers expect to spend the same or more on premium brands post-brexit, compared to 39.4% who expect to reduce their spend. 5
7. Female shoppers are more likely than males to research and consider alternatives when facing a price increase Females were more likely than males to look for a retail-branded item (11.8%), to postpone or reschedule the purchase (11.6%) and to not buy the item at all (6.8%). 8. Brexit is likely to have a significant effect on the holiday plans of people living in the UK Almost a quarter of people (24.3%) have already made a holiday decision affected by Brexit. 9. However, people are choosing to adapt their travel plans, rather than cancel them 37.3% of people said they would choose a cheaper destination, while 36.7% said they would travel for fewer days. 10. Planned holidays in the UK are less likely to be affected by Brexit than holidays abroad 10.9% of holidays in the UK are estimated to be affected by Brexit, versus 26.9% of holidays abroad. 6
This goes to show the fluidity of the travel market and digital consumers in general. We all chase value from the products and services we invest in. Where European travel might present uncertain outcomes for now, people are responding in a range of ways some choosing to holiday in the UK or shorten their holidays, while others might be looking further afield, where more exotic holidays are not only manageable but offer all kinds of perks, from consistent weather to your money going further. Travel operators have to keep their fingers on the pulse this year and, of course, it s having accurate customer and interactions data that makes it possible to engage consumers effectively. James Libor, Performance Marketing & Technology Manager at Virgin Holidays 7
2. THE IMPACT OF BREXIT ON UK CONSUMERS 2.1 KEY FINDINGS AND MARKETING TAKEAWAYS 1. The UK economy has continued to grow and UK consumers have continued to spend despite wide forecasts that a vote for Brexit would rapidly lead to a recession Our findings suggest that UK consumers continue to have a strong appetite for retail, despite the initial negative forecasts. This means that there is still spend for retailers to attract. MARKETING TAKEAWAY Continue to engage with your consumers in order to avoid losing out to competition during the next 12 months. Stay abreast of any market changes during the transition and ensure that your campaigns and strategy can be flexed if the need arises. 2. Polarised views on living standards reflect the Referendum result but the expected collapse in consumer confidence has not occurred Males are more optimistic about living standards than females as are northern respondents compared to those in the south. Younger consumers are much less confident about their future living standards than 8 older consumers.
MARKETING TAKEAWAY The polarised views regarding living standards, and the differences between males and females and different age groups, signify the importance of understanding your audience. Make use of consumer data, channel and cross-device performance and programmatic targeting to engage these different groups in a way that is most relevant to them. Generate stories that resonate with the different audiences, either looking for what unites them or targeting with specific messages or offers. Key to the success of this is transparency of data, whether that be in relation to site lists, publisher performance or incremental channel contribution. 3. Nearly one fifth of respondents felt shoppers would strongly prefer goods made or sourced in the UK, and a further 32.6% thought that there would be some effect on their preference More than a third felt it would make no difference. MARKETING TAKEAWAY Brands with a strong home-grown ethos have an opportunity to capitalise on this messaging to attract shoppers that have an increased preference for goods made or sourced in the UK. If this ethos hasn t existed previously, look at whether there is scope for campaign creation that appeals to this audience. 9
2.2 THE STRENGTH OF RETAIL SPENDING Despite sterling s depreciation, UK consumers continued spending after the Referendum. Before the Referendum vote, it had been widely forecasted that a vote for Brexit would rapidly lead to a recession if only for a short period of time. However, the economy continued to grow after the Referendum although the international value of sterling depreciated by around 15%. The Bank of England revised its original post-brexit growth forecast for 2017 from 0.8% (August 2016 estimate) to 2.0% (February 2017 estimate). UK consumers continued spending after the Referendum and the upturn continued until December 2016 (Figure 1). However, retail sales in January and February were below expectations, although it is too early to say whether the optimistic period of consumer spending is coming to an end. Retail sales have been subject to considerable fluctuations recently but considerable discounting in the Christmas period may have limited shoppers desire to spend in the early months of 2017. 10
UK Retail Sales (Year-on-Year) 2012 to January 2017 UK RETAIL SALES YOY 8 6 4 2 0-2 2012 2014 2016-4 SOURCE: WWW.TRADINGECONOMICS.COM OFFICE FOR NATIONAL STATISTICS [Source: derived from Trading Economics] FIGURE 1 11
2.3 THE OUTLOOK FOR LIVING STANDARDS Overall, attitudes about future trends in living standards seem fairly stable. Consumers purchasing power is dependent on living standards, which might be directly affected by income fluctuations as a result of the terms by which the UK ends up leaving the EU. It had been widely assumed that a Brexit vote would quickly lead to a fall in consumer spending. However, attitudes overall about future trends in living standards seem fairly stable and the expected collapse in consumer confidence has not occurred. But, our research shows that opinions as during the Brexit vote itself remain highly polarised with 37% of consumers saying they were very or quite sure they would be better off, and 40% saying they would be not better off or worse off. Males were more optimistic than females about their living standards in six months time, with 38% very or quite sure they would be better off (compared to 35% of females). Younger consumers were much less confident about their future living standards than older consumers. For example, 46.6% of those aged 25-34 expected they would be not better off or worse off as a result of Brexit, compared to 36.9% of respondents aged 55-64. 12
2.4 ATTITUDES TOWARDS GOODS MADE IN BRITAIN 32.6% of survey respondents felt there would be some effect on shopper attitudes towards goods made in Britain. Respondents were asked whether Brexit might make British shoppers more positive about goods produced in Britain. The key results showed that although slightly more than one third (33.4%) felt it would make no difference, 19.6% of respondents felt that shoppers would strongly prefer goods made/sourced in the UK, and a further 32.6% thought that there would be some effect on their preference. AVERAGES Make no difference 33.4% There may be some effect 32.6% Shoppers will strongly prefer goods made/sourced here 19.6% Depends on the terms we get when the UK leaves 8.1% Don t know 6.3% TABLE 1 13
3. THE IMPACT OF BREXIT ON PREMIUM BRAND SHOPPERS 3.1 KEY FINDINGS AND MARKETING TAKEAWAYS 1. Foreign-produced premium handbags, casual apparel and formal clothing brands are most likely to be affected by Brexit When consumers were asked about specific product categories produced abroad, we saw customer trust vary. The potential loss of trust was strongest among handbags (41.1%), casual apparel (39.3%) and formal clothing (37.8%). MARKETING TAKEAWAY Consider testing messaging around trust and quality and measure the impact this has on retaining customers and avoiding loss of sales, particularly if your brand offers handbags, casual apparel or formal clothing. 2. Price increases of up to 10% won t impact all decisions to purchase premium products When facing a price rise of up to 10%, nearly two thirds (61.5%) of Brits would buy the premium brand anyway, compared to only 5.9% who would refuse to buy the item. 14
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The rise from a 10% increase to a 15% price increase was expected to make over a fifth of shoppers switch products. MARKETING TAKEAWAY Our survey suggests that there will continue to be significant appetite for premium retail despite uncertainties caused by Brexit. However, after a period of stable prices, suppliers, retailers and marketers have to be aware that shoppers may react if the price increases are seen as unfair in some way. This is particularly important for online delivery price rises and for brands targeting female consumers. 3. There is a division in the outlook for spending on premium brands: almost half of consumers remain confident that their spending on premium brands will remain buoyant (i.e. they will spend the same or more on premium brands post-brexit), while 39.4% remain cautious and believe Brexit will cause them to reduce their spend on premium brands. MARKETING TAKEAWAY Be aware of the differing needs within your customer segments and use data to understand and engage these different groups in the way that is most relevant to them. Gain a deeper understanding of your customers to engage them successfully in this unsettled market. 16
4. Female shoppers are more likely than males to research and consider alternatives when facing a price increase. Furthermore, a higher proportion of females than males said they would not purchase the product at each price increase level. MARKETING TAKEAWAY In a world where personalisation is key, keep in mind which gender you are targeting. Build personas and gain an understanding of your individual shopper s motives and expectations to give them the experiences they are accustomed to receiving. 3.2 TRUST IN PREMIUM BRANDS PRODUCED OUTSIDE THE UK 36.7% of respondents said that Brexit would make no difference to their trust in foreign-produced consumer brands. If a premium brand is produced outside the UK, how much will this affect shoppers trust in that brand in the future? 7 % % 37 % 23 % 22 11 % Our survey participants were asked to answer questions relating to the trustworthiness of brands. In particular, we wanted to gauge whether Brexit might render foreign-produced premium brands less desirable and correspondingly British-made goods synonymous with reliability. Makes no difference Some loss of trust A large loss of trust FIGURE 2 Depends on item, if a must-have with few alternatives then less effect Don t know 17
We found that attitudes towards foreign-produced premium brands are rather more favourable than for other products available in the UK. 36.7% of respondents said that Brexit would make no difference to their trust in foreign-produced premium brands. However, 11.4% thought there would be a large loss of trust and a further 21.4% expected some loss of trust (a subtotal of 32.8%). A little under one quarter thought it would depend on the type of item and whether there were alternatives available. Potential loss of trust in premium brands produced outside the UK by category POTENTIAL SOME OR A LARGE LOSS OF TRUST WILL MAKE NO DIFFERENCE DEPENDS ON ITEM Cosmetics 27.1% 43.6% 23.0% Perfume 28.5% 39.6% 23.5% Casual footwear 29.0% 35.2% 17.3% Formal clothing 37.8% 24.3% 28.9% Casual apparel 39.3% 26.1% 26.3% Handbag 41.1% 25.3% 24.6% Laptops, tablets, smartphones 15.7% 63.0% 19.1% Total 32.8% 36.7% 23.3% 18 TABLE 2
When asked about specific product categories, we saw customer trust vary. High proportions of our respondents felt that Brexit will make no difference to their level of trust for laptops, tablets, smartphones and other IT products which are largely produced abroad and cosmetics and perfume. The potential loss of trust, was strongest amongst handbags, casual apparel and formal clothing. Would you expect to reduce your spending on premium brands produced abroad over the next two years? 3.3. SPENDING ON PREMIUM BRANDS PRODUCED OUTSIDE THE UK An average of 39.1% expected to spend less on overseas-produced premium brands. 13 % 8% 24 % 29.3% expect there may be some reduced spending and 9.8% expect a large reduction in spending (a subtotal of 39.1%). Almost one quarter expect no difference in spending and 15.7% expect that they will spend more on premium goods produced abroad. Overall, therefore, an average of 39.1% expected to spend less on overseas-produced premium brands and 15.7% expected to spend more, with 23.7% suggesting that Brexit would make no difference to their spending. 16 % 10 % Makes no difference 29 % FIGURE 3 I/we will spend more There may be some reduced spending Depends on what sorts of items A large reduction in spending Don t know 19
3.4 SPENDING ON PREMIUM BRANDS IN GENERAL Almost half of shoppers expect to spend the same or more on premium products post-brexit. Within the survey, respondents were asked whether the uncertainties of Brexit and possible reduction in incomes will affect their willingness to buy premium brands. We found that whilst some consumers remain confident their spending on premium brands won t be affected by Brexit, others are cautious. Table 3 shows an average of 39.4% of respondents are expecting to reduce their spending on premium products. However, almost half of shoppers expect to spend the same (30.7%) or more (18.9%) post-brexit. Compared to males, the spending of women was expected to be more affected by Brexit. Will the uncertainties about Brexit mean you will buy fewer premium products in the next two years? SAMPLE AVERAGES BY SEX* Averages Male Female It will make no difference 30.7% 32.3% 29.2% I/my family will reduce the amount it spends 39.4% 37.9% 40.8% We will spend more 18.9% 17.5% 20.2% Don t know 11.0% 12.3% 9.8% 20 *Weighted averages TABLE 3
3.5 PRICE INCREASES AND DEMAND FOR PREMIUM BRANDS There are significant differences between the attitudes of males and females when faced with a price increase. If Brexit does result in price increases from premium brands, how will that impact shopper spending and brand loyalty? The response was that the great majority, an average of 61.5%, would buy the premium brand product they were considering anyway. Only 5.9% would not buy the item at all. Interestingly, retail-branded items are seen as being less of a substitute for premiumbranded items than alternative premium brands. 21
If the price of a premium brand that you were thinking of purchasing went up next year by more than 10%, what would be your response? SAMPLE AVERAGES BY SEX* REGIONAL AVERAGES* Averages Male Female North South Not buy the item at all 5.9% 5.0% 6.8% 6.9% 5.0% Change your normal brand to a less-expensive one 13.7% 13.8% 13.6% 12.8% 14.5% Look for a retail-branded item 9.3% 6.7% 11.8% 10.5% 8.3% Buy it anyway 61.5% 67.1% 56.2% 58.0% 64.5% Postpone purchase, or buy item less often in future 9.6% 7.4% 11.6% 11.8% 7.7 % *Weighted averages TABLE 4 We also found significant differences between the attitudes of males and females when faced with a price increase: 67.1% of males and 56.2% of women would buy the item anyway. Respondents in the south were also more inclined to do so than respondents in the north. Females were more likely than males to look for a retail-branded item (11.8%), to postpone or reschedule the purchase (11.6%), and to not buy the item at all (6.8%). This suggests that 22
females are more likely to research and consider alternatives when facing a price increase. Shoppers in the north were an average of 9.73% more likely to not buy the item, to postpone purchase and to consider retail-branded items. As expected, Table 5 shows that as the price increases so does the loss of sales. The highest loss of trade occurs between a 10% price rise and a 15% price increase. The price making shoppers change their brand PROPORTION REFUSING TO BUY ITEM AT EACH PRICE LEVEL 5% price change 5.2% 7.5% price change 7.9% 10% price change 9.7% 15% price change 20.8% 20% price change 28.4% 25% price change 37.1% 30% price change 46.3% 35% price change 52.4% TABLE 5 23
3.6 ATTITUDES TOWARDS ONLINE DELIVERY PRICE INCREASES More than half of consumers will not pay more for online delivery. While a certain level of price increase on premium brands will be tolerated by UK consumers, we found that the majority of consumers are not prepared to pay more for online delivery. This suggests that consumer expectations around delivery are becoming more demanding. Would you pay more in online delivery charges? SAMPLE AVERAGES BY SEX* REGIONAL AVERAGES* Averages Male Female North South Yes 34.9% 33.7% 36.1% 34.5% 35.2% No 56.3% 56.7% 55.8% 57.2% 55.6% Don't know 8.8% 9.6% 8.1% 8.3% 9.2% TABLE 6 24
4. THE IMPACT OF BREXIT ON UK HOLIDAYMAKERS 4.1 KEY FINDINGS AND MARKETING TAKEAWAYS 1. Brexit is likely to have a significant effect on the holiday plans of people living in the UK but this does not mean that people are cancelling their holiday plans Although almost a quarter of people have already made a holiday decision affected by Brexit, consumer appetite for travel remains strong. People say they are likely to choose a cheaper destination, holiday for fewer days or holiday in the UK instead of abroad. MARKETING TAKEAWAY Changes might open up new opportunities for travel and holiday brands servicing both the UK and abroad. Overlooked affordable destinations might become new favourites with Brits travelling outside the UK. Within Britain, regional economies might also get a boost from holidaying within the UK. Consider the art of storytelling in your campaigns, for destinations within the UK and far-flung locations alike. For example, do not sell hotel rooms but instead help your customers make memories that last a lifetime. 25
2. Planned holidays in the UK are less likely to be affected by Brexit than holidays abroad MARKETING TAKEAWAY Those in the UK travel vertical can make the most from the home-grown aspect of their holiday offering, highlighting the wonderful experiences UK destinations have to offer through rich and engaging content. 4.2 THE IMPACT OF BREXIT ON FUTURE TRAVEL DECISIONS Almost a quarter of all travel plans could be directly impacted by Brexit. Holidays and travel are, in most cases, a significant expense for individuals and families alike. Brexit is expected to have an effect on the travel industry, primarily for the following reasons: Firstly, sterling s depreciation means holidays outside the UK will be more expensive, which may force holidaymakers expecting to go abroad to alter their plans. Secondly, uncertainty about the economy and future living standards may limit holidaymaking among more prudent or financially stretched families. 26
Our findings demonstrate it is wise to expect and plan for the travel vertical to be impacted by Brexit. However, this does not necessarily mean that holidays are cancelled. Consumer appetite for holidays remains strong, with people choosing to adapt their holiday plans to Do you expect Brexit to affect your travel/holiday destinations? get the most for their money. 30.2% of respondents believe that there may be some effect as a direct result of the UK 11 % leaving the EU with a further 18.4% stating they already expect to take more holidays at home. Hypothetically speaking, if half of these holidaymakers find alternative travel/holiday destinations to counterbalance the negative effects of Brexit on the economy, almost a quarter of all travel plans will be impacted. 4.3 THE IMPACT BREXIT HAS ALREADY HAD ON TRAVEL DECISIONS 19 % 19 % 30 % 21 % 24.3% of respondents have already made a decision about their holidays as a direct result of Brexit. It is not just summer holidays abroad that have already been affected by Brexit. The average number of breaks taken per year in the UK is 3.6 which is consistent with ABTA s estimations (2015, 2016). This figure includes seaside/family holidays (31.2%), touring (27.9%), city breaks 17.4% and activity holidays (17.4%). There may be some effect Make no difference I won t be sure till later this year I expect to take more holidays at home/in the UK FIGURE 4 Don t know 27
Have you already made a holiday decision affected by Brexit? Table 7 provides a breakdown of the different types of holidays taken in the UK and abroad by the respondents to the survey and indicates what percentage of these holidays have already been impacted by Brexit. Our findings indicate that holidays planned (but not necessarily booked) in Britain are 24 % 17 % less likely to have been affected by Brexit. However, British breaks are not Brexit-proof. On average, over a tenth of all types of holidays usually taken in the UK are expected to be affected. This includes city and seaside/family breaks. But, this does not necessarily mean holidaymakers are cancelling their plans. Instead, Brits may be planning to visit cheaper 59 % destinations which may benefit regional economies. No Yes Don t know / not yet decided FIGURE 5 The weighted average of overseas holidays affected by Brexit issues for 2017 so far is 26.9%. The weights applied relate to each holiday type as a percentage of total foreign holidays. However, the changes made are against expected or planned travel and do not necessarily mean that booked holidays have been altered or cancelled. 4.4 HOW TRAVEL HAS BEEN IMPACTED BY BREXIT 37.3% say they have changed their plans in a move to find more affordable options. Looking on the bright side, the majority of planned holidays are not being abandoned entirely or postponed. The most common approaches to managing holidays and travel seem to involve reducing the number of days spent on holiday (36.7%) and choosing 28 cheaper destinations (37.3%), which will invariably benefit some overlooked destinations.
HOLIDAYS NORMALLY TAKEN HOLIDAYS AFFECTED BY BREXIT* Types All Holidays Taken by Type Proportion in UK Proportion Abroad UK Abroad Seaside/family 31.2% 0.38 0.62 11.3% 28.1% Touring 27.9% 0.36 0.64 9.2% 35.0% Camping 5.6% 0.44 0.56 4.2% 18.5% Activity holiday 14.9% 0.49 0.51 8.7% 18.2% City breaks 17.4% 0.37 0.63 17.6% 22.6% Cruising 3.0% 1.00 19.0% * As a percentage of all expected or previously-planned holidays TABLE 7 29
Estimate of the main ways that Brexit has affected holidays and travel* HOLIDAYS AFFECTED BY BREXIT** MAIN WAYS IN WHICH HOLIDAYS AFFECTED Types UK Abroad Fewer days UK, not abroad Cheaper destination Abandoned or postponed Seaside/family 11.3% 28.1% 45.4% 15.8% 32.5% 6.3% Touring 9.2% 35.0% 48.1% 13.9% 23.2% 14.8% Camping 4.2% 18.5% 32.0% 18.7% 42.3% 7.0% Activity holiday 8.7% 18.2% 31.2% 20.3% 39.2% 9.3% City breaks 17.6% 22.6% 28.7% 14.7% 40.4% 16.2% Cruising - 19.0% 34.6% - 46.2% 19.2% Averages 10.9% 26.9% 36.7% 13.9% 37.3% 12.1% *Weighted averages. ** As a percentage of all expected or previously-planned holidays. TABLE 8 30
5. METHODOLOGY The Centre for Retail Research conducted interviews with a representative sample of 1,000 respondents aged 18 and over in February 2017. They represented, as far as possible, a cross section of the UK population, consisting of: 515 females and 485 males; a representative demographic sample by six different age groups; and, to prevent regional bias, 46.2% from the north of the UK and 53.6% from the south. The Referendum indicated sharp differences between regions in their attitude towards Brexit, which explains the need to obtain a north south regional spread of opinions and responses. For more detail on the methodology, as well as all data tables, please contact us (rm-ukmarketing@mail.rakuten.com) to get a copy of the full Centre for Retail Research report. 31
6. ABOUT THE CENTRE FOR RETAIL RESEARCH The Centre for Retail Research, based in Nottingham England, was established in 1997 as an academic spin-off to carry out independent research in Europe and North America on customer spending trends, the changing retail marketplace, online retailing and the impact of technology on retail development. CRR s research and views are quoted widely on radio and TV and by major newspapers. 32
7. ABOUT RAKUTEN MARKETING Rakuten Marketing is the global leader in digital marketing solutions that empower marketers to realise the full potential of their campaigns across display, affiliate and social channels. Our clients are looking to work with a transparent partner who can help them increase the efficiency and performance of their campaigns. These campaigns are supported by a robust platform that includes our own attribution and retargeting technology, unique data and advanced user identification capabilities. Integrated multichannel solutions, along with our unique data insights and unparalleled client focus, equip marketers to deliver ad experiences that engage and influence across a global network. Rakuten Marketing is backed by Rakuten, Inc. one of the world s leading Internet service companies. With UK offices in London and Brighton, the company is headquartered in New York City with additional offices in Australia, Brazil, Japan and throughout the United States. Further information can be found on www.rakutenmarketing.co.uk. 33
CONTACT US Please get in touch to learn more about our services: +44 (0) 207 427 8120 rm-salesuk@mail.rakuten.com rakutenmarketing.co.uk 34
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