State of the nation 2022

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      <subfield code="a">There were two notable disruptions for the UK and EU markets in 2021 - Brexit and COVID-19. There have been supply chain challenges resulting from both of these, and businesses have been forced to adjust what would have been normal operations two years ago. Recalls were up in every industry in 2021, with the exception of toys, which saw a 28% decline in events compared to 2020. The toy industry did however see the expected spike in the fourth quarter, which accounted for 38% of all recalls for the year. The pharmaceutical industry saw the biggest jump with 372 recalls, a 48% increase over 2020. Electronics experienced a 45% year-over-year increase in producto recalls. While clothing saw a 25% increase, children's sweatshirts alone experienced a 200% increase from the year previous. As we outline in this report, there are sweeping changes ahead for all industries. In many cases, regulators are working to update laws written 20 years ago, before the widespread adoption of online marketplaces and connected devices. While the goal of these changes is to protect consumers, and in some cases the environment, they are likely to cause challenges for businesses who may need to make significant adjustments to their business processes to comply with new regulations.</subfield>
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