Q: You’ve said in the past that presidential election cycles affect retail sales because consumers are unsure of what will come. How do you think this new impeachment inquiry will affect consumer confidence as we head into the holiday season?
Steve Pruitt: At this point, it’s hard to tell because we need more information. What we do know is that the market so far has shrugged it off, and historically consumers have voted based on their wallets. That said, turmoil is not good for consumer confidence, so act cautiously while planning this next year. The truth is you will have to keep your eye on the greater economic and political landscape, while also staying focused on what’s happening in your unique business, with your customers.
Don’t let the political drama contaminate the mood in your store, especially as we get closer to the holiday season. Try to make your space a respite from the worries of the outside world—focus on the fashion, and the excitement it can bring.
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