A new study from Barclays Corporate Banking, which interviewed 10,000 people across 10 key markets shows, products made in the UK are still held in high regard around the world. As per the study, Indian consumers are reportedly willing to pay an average of 11.8 per cent gross premium on British-made products. They are followed by consumers in UAE, US and China, who are willing to pay 10.9 per cent, 10.4 per cent and 8.8 per cent more respectively.
Two thirds shoppers in India and China are inclined to pay more for products emblazoned with the Union Jack as they believed them to be of higher quality. Promisingly, 69 per cent of Indian shoppers and 64 per cent of Chinese shoppers are now buying more British goods than they did five years ago.
As per the research, this creates a significant opportunity for growth in markets such as China, India and the UAE, when new trade routes open up to markets further afield. While the EU and the US remain the biggest trading partners for the UK, there are considerable opportunities for British businesses to grow exports to less traditional markets.
