WHAT CHANGES CAN WE EXPECT POST-ELECTION AND HOW MIGHT THEY AFFECT CONSUMER CONFIDENCE?
Q: The election is over, but I’m still feeling a lot of uncertainty. I know Republicans are pro-business, but I’m not sure what changes to expect and how those changes might affect consumer confidence. What’s your outlook?
Steve Pruitt: The truth is nobody knows what to expect right now, and that can feel unsettling. But, what we do know is that consumer spending was up last month, despite the uncertainty, and that the holidays will give shoppers a good reason to focus on something other than the election.
What you need to do is keep a positive attitude in your store and focus on how you can make 2017 better than this year. We are at the end of a prolonged slowdown, which means we are poised for growth in the first half of next year. So, now is the time to ask yourself about the areas of your business that could use improvement. Are you hanging on to old vendors that aren’t performing as well as they used to? Is your sales team primed and ready to take advantage of the upswing, or are they feeling a bit stuck and unmotivated?
Be honest with yourself and commit to making changes where they are needed. In order for your business to change, you need to change, so be open to new ideas and methods. If you need help analyzing your business performance and seeing where there are opportunities for growth, give me a call.
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