What does Brexit mean for students in the UK?
As one of the world’s most popular destinations for international students, the UK’s official departure from the European Union in March 2019 will inevitably have an impact on its universities. The effects of Brexit will be felt not only by international students but also those born and bred in the UK. Here’s what we can expect, and how you can prepare to tailor your student marketing strategy to post-Brexit Britain.
Cost of living
Brexit is expected to impact the cost of living in the UK, with consumer prices already being affected by the financial repercussions of the 2016 referendum. Our latest research revealed that students are savvy spenders, with two thirds using student discounts at least once a month. We predict this number will rise as young consumers look for new ways to make the lifestyle they desire more affordable.
When the UK leaves the EU, the cost of products made abroad is likely to rise as existing trade relationships will need to be renegotiated. This could give British businesses an edge over international competitors. With local sourcing already appealing to ethical, green-living young consumers in industries such as food and fashion, this could be a great marketing angle for British companies.
Staycations over vacations
Brexit is expected to affect the cost of international travel, including the availability of cheap flights to European destinations. This could boost the domestic tourism industry, making holidays within the UK more appealing. National Express and Hotels.com are among the travel companies who offer discounts through Student Beans. Our 2018 Student Shopping Report includes our top tips on how to market travel and hotels to students.
Want to find out more about marketing to students in the UK, and around the world? Get in touch to discuss how Student Beans can help to maximise your brand’s student sales.