With less than 24hrs until the voting starts the election is still too close to call. What is certain is that most of us a fed up with the on-going discussion, debate, speculation and dissection and we just want to get on with it and deal with the inevitable fallout when it comes. It’s clearly not going to be pretty and it’d be no real surprise if we end up doing it all over again in a few month time because of a vote of no confidence! Sigh!
We faced a similar uncertainty following the last election (although arguably this time its going to be much worse) and last time the financial markets reacted badly with share prices tumbling and the £ (GBP) falling in value against most other leading currencies including he $ (USD).
The financial markets are already pretty fragile not least because of the on-going issues with the Greece bailout and additional and prolonged uncertainty in the UK is likely to push things over the edge.
For any company looking to buy promotional USB memory sticks or custom USB flash drives in the short term this is bad news. The vast majority of USB memory sticks in the world are manufactured in China and the factories that manufacture them all expect to be paid in $’s (USD). So, any weakening of the £ (GBP) against the $ (USD) is going to mean an increase in prices coupled with a lack a stability in terms of pricing. It’s bad enough now that prices are only held for around 3 days but when the markets enter a period of sustained uncertainty then prices for USB sticks (which are driven to a large degree by the currency markets) can change daily!
As a company this will be our 3rd General Election (we set up the company in 2002) so we’ve a reasonable amount of experience of dealing with the challenges they can pose. To try and protect our customers we have forward bought a large amount of stock and we’ve protected ourselves for some time against currency movements. We want to provide as much as a cushion as we can against the uncertainties we (and our customers) are likely to be faced with over the coming months!
So, if you are looking for USB memory sticks printed of engraved with your logo and perhaps a great looking gift box to put them in then we’d strongly recommend getting in touch with us at USB2U – not just now because of the elections but at anytime!