Logistics industry predicts panic buying and stockpiling ahead of Brexit

New research conducted on behalf of IMHX – the UK’s largest logistics event – has revealed that nearly two thirds (63%) of logistics and supply chain managers predict the general public will panic buy and stockpile goods ahead of Brexit.

Key concerns are that customs restrictions, weak GDP and increased bureaucracy following the UK’s exit from the European Union will lead to a skills shortage, rising costs and consumer panic buying.

The main results of the survey included:

• 79% are worried about the additional time and costs moving good in and out of the UK
• 77% are concerned about increased bureaucracy when importing and exporting goods
• 59% are worried about restrictions on customs and imports
• 58% believe there will be a disruption to the food supply chain leading to increases in prices of certain fresh produce
• 70% say increased use of automation/AI robotics is a good thing for the logistics industry and provides a solution to the current skills shortage in the UK
• 82% say the rise in e-commerce is killing physical shops, signalling the death of the high street and putting additional pressure on the logistics and supply chain infrastructure

“The lack of clarity and uncertainty that still plagues Brexit continues to cause angst amongst the logistics industry,” says Rob Fisher, IMHX event director. “A No Deal Brexit could still be a reality on 31st October, despite the passing of a bill to make it unlawful. If this happens, the logistics and supply chain industry predicts a chaotic outlook with the public panic buying and stockpiling food and other goods. The logistics industry is the backbone of the British economy, feeding into the retail industry, which is the UK’s biggest private sector employer. If anyone know what they are talking about, these guys do, and I fear their concerns are more than justified.”

www.imhx.net