European Monetary Union: the need for a contingency strategy within the retail sector

The decision on which countries will participate in European Monetary Union (EMU) is to take place as early as possible in 1998, with the final run in, regarding the technicalities of introducing a single currency, starting on 1 January 1999. With this timetable in mind, examines some of the major issues which will have to be confronted by UK retailers. Even if the UK Government decides to opt out, the increasing internationalization of retailing will mean that UK retailers will have to face a Euro‐denominated environment over a significant range of its business activities. Consequently, by identifying EMU factors which specifically relate to retailing, identifies the key areas which retailers need to consider in planning a strategy to take account of the possibility that EMU will take place in at least some major EU economies.