Market analysis: Potential impact of Brexit on the GB optical market

The UK government triggered Article 50 to begin the formal process of leaving the European Union on March 29. Theresa May has been clear that ‘Brexit means Brexit’… but what could Brexit actually mean? At GfK we have looked into the potential impact on the GB Optics industry.

Firstly, a view of how consumers have reacted more generally. At GfK we track economic sentiment on a monthly basis via our Consumer Confidence Index. In the year running up to the referendum in June 2016 economic sentiment fell consistently and considerably, reaching a low point in July immediately following the referendum. At that point just 17% of people were of the opinion that the general economic situation was likely to improve over the coming year while 58% predicted it was likely to get worse.