It is predicted that if the conservatives win the election, or indeed form part of a coalition there is more that likely to be a EU referendum. This referendum would mean that less money is spent on Eurozone bailouts, we (UK) would have total control of our borders and we would keep our pound away from the Euro. This EU referendum would cause significant changes and possible imbalances to the economy. Our customers may be inclined to spend less as they may be worried about interest rates and receiving loans, which would in turn cause a negative effect on our sales.
This uncertainty means that we will have to work even harder to achieve competitive prices and amazing product to justify our products to our customers to stop any falls in sales. If we had to lower prices we would have to make sure that we could also reduce the cost of production in order to keep our margins as they are now. Perhaps our buyers could look at sourcing less expensive materials or production techniques.
All in all the above legal, social and political factors impact Boohoo in different way. We need to work strongly as a company to make sure that these external factors have insignificant impact on our profits.