Pound Falls Sharply As European Economy Slows
The European economy is in recession and the pound sterling is plummeting, creating an unprecedented crisis for cross-border e-commerce sellers. The Russia-Ukraine conflict and the Federal Reserve's interest rate hikes are the main causes, leading to decreased consumer spending and increased costs in Europe. Many sellers are forced to liquidate and 'run away'. However, there are opportunities in thermal products and the holiday economy. Sellers need to carefully assess risks and develop flexible strategies to survive the winter and grow against the trend.
