What Now? Post-Election Thoughts for the Retail Industry
Elections are emotionally charged events and yesterday’s U.S. Presidential Election proved no exception. Regardless of which way you voted, we now have a new President in Donald Trump. So, what does his election mean for retail sales? No one can say for sure at this point, but we thought Forbes.com provided a compelling commentary. Here is a brief synopsis of the article:
- Large purchases may be put on hold temporarily while consumers figure out what this election means for them personally and financially.
- Retail stores may feel the burn of inflation and be forced to pass along cost increases.
- A lengthy recession is a real possibility.
As we have seen in the past, the United States is an incredibly resilient country. As President Obama soothed the country last night, “no matter what happens, the sun will rise in the morning, and America will still be the greatest nation on earth.” We tend to agree. How new policies of the new administration on trade, the currency, tax and other issues will impact U.S. retailers remains to be seen.