Head of Fox Williams’ commerce and technology team Stephen Sidkin spoke at a seminar organised by UKFT, where there was be a discussion on the market, its challenges and the opportunities.
The US remains the UK’s largest export market for apparel, footwear and accessories and UKFT’s number 1 priority market for an ambitious trade agreement. Whilst we expect an agreement will take some time, possibly years, we are working hard to get one but in the meantime the US (even without a deal) represents great opportunity for UK brands. Throughout the Covid-19, whilst many US retailers were badly affected by the lockdown, some states remained completely open and we are seeing demand in some states already back at pre-Covid levels. Most US adults have now been completely vaccinated against Covid-19 and some are even said to be looking to travel outside the US again as early as this summer. At the same time, the US not the easiest market and it is certainly not the cheapest. We view it as not one market but several and you really need to invest carefully over the long-term to gain a foothold there.