Election Year – What does it mean for retail?

It’s impossible to have missed the current election campaign in full force. It is well and truly Election Year! As President Obama completes his final term in office, Donald Trump and Hilary Clinton represent their respective parties to seek your vote. Policies are aired along with ideas for the future. Such as creation of more US jobs and capping drug prices. Ultimately if some of these are brought into action they will change the retail industry, but as yet it is speculation. So how does uncertainty affect your retail business?

Making the most of a challenged economy in Election Year

Historically year 8 of any President’s residency in the White House is a troubled year for the economy. Businesses are reluctant to invest or make changes as the future fiscal policies are, as yet, unclear. As such, the market stagnates. Against the normal trend, retail sales actually picked up during May and are forecast to do so again in June. Could it be that retailers are utilising in-house resources to generate sales during a difficult period?

For any retailers, it is the ideal time to run promotional campaigns to generate more sales. Utilising, for example, Window graphics , to promote Election Year Discounts or offers. If you’re having any work done or refurbishments and resources are tight for promotion, there are options. Retail barricades are an amazing way to catch the attention of your audience and show them you’re still in business. Giving you a highly cost-effective way to communicate to your customer base.

Another idea may be to take the alternate approach, it can gain attention to focus on a promotional campaign “tired of election talk, time for some great summer promotions”. Window graphics, point of purchase displays, and even wall graphics can help generate interest and excitement around your store, even when economic times are uncertain.

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