Online retailers in China offer 'Brexit sales'

Online retailers in China have launched Brexit-themed marketing campaigns in the wake of the United Kingdom's referendum to leave the European Union, offering a slew of cut price deals on British and European goods as sterling continues to weaken.

"Brexit low prices are coming, come grab vouchers worth 1 million yuan ($149,700) in total," reads the banner across Tmall's webpage dedicated to UK goods. Slashing prices by as much as 60 percent, the Chinese online retail giant is advertising reduced "Brexit prices" on dozens of British products.

Tmall cut the price of McVitie's Hobnob biscuits, for example, by 39 percent, and marked down soft toys from London toymaker Jellycat by 8 percent. The retailer also lowered the price of some leather goods from the Cambridge Satchel Co by 40 percent. In a similar marketing campaign, Chinese online retailer Ozsp.com alluded to changing exchange rates as it offered consumers cut price European products.